Tourists drive rise in GSS spending, says MasterCard
Tourists atop Marina Bay Sands hotel. Visiting cardholders spent S$708 million in the GSS, a rise of 15.3 per cent compared with a year ago, while spending by local cardholders dipped, says MasterCard. Photo: REUTERS
SINGAPORE — Spending by MasterCard cardholders during the Great Singapore Sale (GSS) rose 2.2 per cent over the previous year, as increased purchases by visitors offset lower spending by locals, MasterCard said today (Sept 8)
The credit-card firm said visiting cardholders spent S$708 million in the GSS, a rise of 15.3 per cent compared with a year ago. Spending by local cardholders, however, dipped to S$1.41 billion from S$1.46 billion last year.
Overall, spending by MasterCard cardholders during the GSS totalled S$2.121 billion, compared with S$2.076 billion last year.
MasterCard said spending on restaurants and eating places were the top category for visitors from Australia, Malaysia, China and Japan.
“The attractiveness of offers at the GSS and Singapore’s appeal as a tourist destination are holding strong as evidenced by the growth in both spending and transactions made on MasterCard cards this year,” said Ms Deborah Heng, MasterCard’s group head and general manager for Singapore. “What’s interesting is that this year, we are seeing dining places emerge consistently as a top spend category for visitors — an indication that fine dining may be growing in appeal for travellers to Singapore.”
The top three spenders were from Australia, Malaysia and China. Travellers from Australia spent around S$82 million, while those from Malaysia spent about S$60 million and those from China spent S$56.3 million. Falling one spot were Japanese travellers, who spent S$43.5 million in Singapore.
The figures come amid continued decline in tourist arrivals. Total tourist arrivals for the first five months of the year were down from last year, falling 4.1 per cent to 6.07 million, despite an uptick seen in tourism arrivals for the month of May.
The increase in May, which came after six months of year-on-year declines, was led largely by an increase in the number of Chinese and Indian holidaymakers.
The figures come on the back of a dismal performance by the tourism sector last year, when full-year arrivals fell 3.1 per cent — the first decline since 2009 — and spending remained flat compared with the previous year.
The Singapore Tourism Board (STB) in May launched a S$20 million global marketing campaign. Last month, it launched a new S$10 million fund for businesses to develop new tourism experiences that will enhance overall visitor experience and satisfaction in Singapore.
Earlier, the STB had forecast visitor arrivals to grow by up to 3 per cent this year and tourism receipts to increase by as much as 2 per cent.
