Low Yen Ling on post-pandemic recovery in retail and hospitality sectors
Singapore’s retail and hospitality sectors have rebounded to pre-pandemic levels, with retail sales in July even exceeding the 2019 figure. This was boosted by a healthy improvement in travel, with nearly 12 times more visitor arrivals in the first half of 2022 compared to the same period last year. This recovery is expected to continue, though it may be slowed by global geopolitical tensions and economic slowdown, said Minister of State for Trade and Industry Low Yen Ling in Parliament on Tuesday (Sep 13). Answering an MP’s questions, she added that the Industry Transformation Maps for the retail and hotel sectors will have to ensure that their manpower, supply chains, operations and revenue streams become more resilient against pandemics and other disruptions.
Singapore’s retail and hospitality sectors have rebounded to pre-pandemic levels, with retail sales in July even exceeding the 2019 figure. This was boosted by a healthy improvement in travel, with nearly 12 times more visitor arrivals in the first half of 2022 compared to the same period last year. This recovery is expected to continue, though it may be slowed by global geopolitical tensions and economic slowdown, said Minister of State for Trade and Industry Low Yen Ling in Parliament on Tuesday (Sep 13). Answering an MP’s questions, she added that the Industry Transformation Maps for the retail and hotel sectors will have to ensure that their manpower, supply chains, operations and revenue streams become more resilient against pandemics and other disruptions.
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