4.5 million less tourists visited Singapore this year

According to the Singapore Tourism Board, the city-state saw 4.5 million fewer tourists in the first half of the year, 11.5 % down from the same period last year. Revenue from tourism dropped 13.5 % to 6.4 billion Singapore dollars ($4.4 billion) in the January-June period, as travelers cut back on trips under current economic circumstances.

Thus, the slump in tourism helped shrink the economy for a year until gross domestic product grew an annualized, seasonally adjusted 20 % in the second quarter. The board reiterated its target for tourist income between SG$12 billion and SG$12.5 billion this year compared to SG$14.8 billion last year. It aims to attract 9 million and 9.5 million tourists in 2009 comparing to 10.1 million in 2008.

Arrivals in June fell 8.9 % to 750,000 from 823,000 a year earlier. Arrivals in June increased 3.3 % from May.

In addition, hotel revenue decreased 35 % to SG$115 million ($80 million) in June from SG$177 million a year earlier, the board said. The average hotel room rate dropped to SG$179 in June, representing a 28 % decline from a year earlier.