This estimation is steeper than the 19 per cent decline in 2003, when Singapore endured the severe acute respiratory syndrome outbreak.
The latest projection comes on the back of yet another year of record highs in tourist arrivals and spending in 2019. But with the largest source market of China drying up, the four-year streak is set to end. The restrictions are aimed at limiting the spread of the virus, which originated in the central Chinese city of Wuhan.
A task force comprising tourism leaders from both the private and public sectors will be formed to lay out strategies for recovery and future growth, the STB said. Tourism receipts for the first three quarters of 2019 were slightly below the STB's projections of a 1 to 3 per cent growth over 2018, continuing the trend of spending failing to keep pace with arrivals.
Source: Holiday News (holidaynews.net)
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