25 September 2008

Is Singapore losing its mojo?

SINGAPORE ââ¬' Ahead of this weekendââ¬â¢s Singapore F1 Grand Prix ââ¬' the first to be held at night ââ¬' disappointing visitor arrival figures for August 2008 suggest the Lion City may be losing its mojo.

In August 2008, visitor arrivals to Singapore were at 842,000, a decline of 7.7 percent compared to August 2007.

Singapore Tourism Board said the decline in visitor arrivals in August, July and June reflected ââ¬Åâœthe current challenging global economic environment and outlook for the tourism sector, which may continue into 2009ââ¬~.

STB said the tourism sector is likely to fall short of this yearââ¬â¢s target of 10.8 million visitors, but it would increase its efforts in increasing tourism spend to achieve the tourism receipts target of S$15.5 billion.

Indonesia (133,000), P R China (91,000), Australia (65,000), India (58,000) and Japan (53,000) were Singaporeââ¬â¢s top five visitor-generating markets. These markets accounted for 48 percent of total visitor arrivals for the month.

Among the top 15 markets, Germany (8%), Australia (5%), Vietnam (4%), India (3%) and the Philippines (1%) registered growth. But nine out of the top 15 markets saw a decline in visitor arrivals compared to August 2007.

Singapore gazetted hotels were estimated to reap S$165 million in room revenue, representing a growth of 3.6 percent versus August 2007.

The Average Room Rate (ARR) in August 2008 was estimated to be S$232, representing an increase of 14.9% over August 2007.

The Average Occupancy Rate (AOR) for hotels was estimated to reach 81% in August 2008, posting a 9.5 percentage point decrease over August 2007.

Revenue Per Available Room (Revpar) grew by 2.8 percent to reach S$187 for August 2008.

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• Use Jahor Bahru & Save
  
  

  When I have business in Singapore, I stay just over the straits in Jahor Bahru, Malaysia. Great selection of hotels, where the cost for a week is about the same as a night in Singapore. The restaurants in JB are equally varied and priced. The only downer is the drive between downtown SP and the border - border procedures are a breeze that don't require a visa for many.

  By Jon Hewson, Sunday, October 26, 2008
• I agree
  
  

  Over the last year Singapore hotel rates have skyrocketed some as much as double what they were charging a year ago. Average 3-4 star hotel SGD$300+++ .Clients are now opting for KL where a good 4 star costs about SGD$120 -$150++

  By Eva Gotsis, Thursday, September 25, 2008
• Singapore hotels too expensive
  
  

  I guess many visitors have grown tired of trying to find a hotel room in Singapore even one is willing to pay high rate but often impossible to find one. Ironically, it is so cheap to fly there. I have just booked a room for the second week of October and the one night stay cost more than my airfare from Bangkok. Jaffee

  By Jaffee Yee, Thursday, September 25, 2008