A report on tourists arrival index by MasterCard released last Wednesday (Jun 3) revealed that Singapore tourism lacks diversification of its visitors and is too dependent on China tourists.
China tourists account for 1,005,000 visitors, or 25% of all visitors in Singapore, with projected spending power of US$1.3 billion in 2015.
MasterCard chief economist Yuwa Hedrick-Wong told Reuters:
“As a source of tourists, China looms large and a lot of Asian cities have benefited hugely. But they have grown to be very dependent on these tourists, and one must be cautious not to go down one path too far. You must diversify.”
Other findings include Singapore being the number 7 tourist destination city in the world (dropping from number 4th place) with an estimated overnight visitors per city resident of 2.1 million and average expenditures per city resident of S$2,639 for 2015.
You may view the rest of MasterCard’s Global Destinations Cities Index report here.