
Should I stay or should I go: Increasing number of tourists opting for shorter visits
Despite a 14.1% rise in tourist arrivals.
Tourists are definitely flocking to the city-state, but Singapore is having a little trouble urging them to stay.
According to a report by OCBC, Indonesian arrivals increased 3.8% YoY (vs. 12.7% YoY in March), while Chinese arrivals were up 74.3% YoY (vs. 84.3% YoY in March).
In contrast, visitor days appear to be more muted, only rising by 5.4%.
“We believe it is the case that tourists are choosing to stay for shorter periods of time, and/or that an increased amount of transit traffic is passing through immigration,” OCBC said.
“Nonetheless, the figures reported seem to indicate a decent Q2 and we expect that mid-tier players continued to pursue a strategy of higher occupancy and lower ARR for the quarter,” OCBC added.