Tourism receipts plunged 39% to $4b in Q1

Uploaded By:  Janine Ballesteros Submitted By:  Janine Ballesteros Case Study:  No This was attributed to the decline across all components. Tourism receipts crashed 39% YoY in Q1 to $4b amidst the pandemic, the Singapore Tourism Board (STB) revealed. International visitor arrivals (IVA) also fell 43.2% YoY to 2.7 million visitors over the same period. Data from the agency revealed that the decline in tourism receipts was led by the 52% YoY drop in shopping in Q1, 41% YoY slip in sightseeing, entertainment, and gaming (SEG), and 36% YoY contraction in food and beverages (F&B). read more