Singapore travel market

turned negative


In spite of the ongoing efforts in marketing Japan as the destination, the recent earthquake has actually taken toll on the visitors going to there. Highlighted by Anthony Tan, APAC Lead for Travel and Hospitality.

Within the industrialized markets, Australia saw a modest development of 1.2 percent due to currency exchange impacts versus the Singapore dollar which continue to make the country more attractive in terms of investing power for Singapore visitors. At the same time, with the Singapore dollar rising against the Korean won a favorable result was seen on the tourist numbers heading to South Korea with growth of 16 percent over the very same period.

While Southeast Asia stays the most taken a trip region for Singapore travelers. Standard beach vacations locations like Phuket, Bali and Langkawi are again getting popularity vs further locations. Much shorter travel bookings time are likewise seen as more travelers are undecided on vacations in anticipation of a weaker economy.

Outlook based on forward travel leisure bookings for the next six months of 2016 (June December) saw an unfavorable 0.2 percent as compared to 2015 same duration. The first quarter of 2016 saw growth of 6 percent fizzles out. Japan high development of 68 percent in very first quarter have actually turned into a negative 5.2 percent.

Malaysia also reservations kipping down a negative 12.4 percent, this might be due to the recent terrorist informs and reports, observed by Tan.

Overall, the beliefs for outbound leisure travel bookings in the very first 5 months of 2016 have actually weakened. The outgoing market will likely continue see strong headwinds in the coming months as leisure vacations are put on hold.