The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Singapore forecasts slower growth in tourist arrivals this year, citing global economic and political uncertainties and stiffer competition from neighbors in the region. Visitors may increase zero percent to 2 percent in 2017, according to the Singapore Tourism Board. Growth was 7.7 percent last year with a record 16.4 million tourists led by visitors from China, India and Indonesia.
“We want to temper our expectations because we are fully cognizant of the fact that there are political and economic uncertainties which may have an impact on outbound travel,†Lionel Yeo, chief executive officer at Singapore Tourism Board, said at a briefing Tuesday. The board is still negotiating to keep the Formula 1 race in the city, he said in an interview with Bloomberg TV. Singapore plans to remake Orchard Road, its main shopping district, develop more family-friendly attractions and boost marketing, the tourism board said in a statement. Tourism has been one of the bright spots in an economy hit by a slump in global trade.