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Business Times
7 days ago
- Business
- Business Times
Singapore tourism receipts edge down 0.1% in Q1
[SINGAPORE] The city-state's tourism receipts (TR) marginally fell 0.1 per cent in the first quarter of 2025 to S$8.07 billion, from S$8.08 billion in the year-ago period. This came as international visitor arrivals rose 0.1 per cent year on year (yoy) to 4.31 million, just a touch above 4.30 million in Q1 2024, Singapore Tourism Board (STB) figures showed on Wednesday (Jul 16). On a quarterly basis, visitor spending grew 9.4 per cent, from S$7.4 billion in the final quarter of 2024. 'Singapore's tourism sector continues to perform steadily,' said an STB spokesperson. Major components mixed The largely consistent TR performance in Q1 2025 came as major components made mixed showings compared with the same quarter in the preceding year. Expenditure on food and beverages (F&B) increased the most yoy, up 14.1 per cent to S$1.3 billion. This was followed by accommodation, where TR rose 6.5 per cent to S$1.4 billion. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The 'other components' segment – which includes spending on airfares on Singapore-based carriers, port taxes, local transportation, business, medical, education and transit visitors – was also up 4.1 per cent to S$2.5 billion. In contrast, shopping TR slowed 2.5 per cent to S$1.3 billion; and the sightseeing, entertainment and gaming (SEG) component moderated 16 per cent compared with the corresponding 2024 period. But STB noted that the first quarter of last year 'featured an exceptional line-up of events', including the Singapore Airshow 2024 and Taylor Swift's The Eras Tour concerts. Singapore hotels' average room rates, revenues, and occupancy for Q1 2025 similarly fell on a yearly basis. Quarter on quarter, the higher TR was due to growth in spending across all major components except shopping, where TR declined marginally. F&B expenditure picked up most on a quarterly basis, at 16.9 per cent. China drives receipts By market, Mainland China remained the top TR generator for Singapore tourism in the Q1 2025, contributing S$1.3 billion in revenue, excluding the SEG segment. This was up 9.3 per cent from its S$1.2 billion contribution to TR in Q1 2024. 'Mainland China's top TR-contributing market position is consistent with its strong IVA (international visitor arrival) performance in Q1 2025, boosted by the 30-day mutual visa exemption and the Chinese New Year peak travel season,' said the STB spokesperson. China was the source of 831,472 tourists to Singapore in the quarter. In Q1 2025, Indonesia (S$719.8 million) and Australia (S$538 million) were the second and third-largest contributors to TR respectively. The US (S$474.6 million) and India (S$342.9 million) rounded out the list of Singapore's top five TR-generating markets. Indonesia was the origin of 640,259 visitors; 312,218 came from Malaysia; 308,124 arrived from Australia; and 261,456 hailed from India. Among these key markets, Australia and the US both recorded strong TR growth of nearly 15 per cent yoy, which the STB spokesperson attributed to robust spending on accommodation and F&B. The spokesperson also pointed to F&B as a strong growth driver in general, with eight of the top 10 markets recording yearly growth in this segment in Q1 2025. This growth, they said, reflects 'Singapore's growing appeal as (a) culinary destination, and follows STB's launch of a marketing campaign in October 2024 to position Singapore as a culinary capital, showcasing the city's vibrant, diverse and innovative food scene to a global audience'.
Business Times
7 days ago
- Business
- Business Times
Singapore tourism receipts edge down 0.1% in Q1 on year
[SINGAPORE] The city-state's tourism receipts (TR) marginally fell 0.1 per cent in the first quarter of 2025 to S$8.07 billion, from S$8.08 billion in the year-ago period. This came as international visitor arrivals rose 0.1 per cent year on year (yoy) to 4.31 million, just a touch above 4.30 million in Q1 2024, Singapore Tourism Board (STB) figures showed on Wednesday (Jul 16). On a quarterly basis, visitor spending grew 9.4 per cent, from S$7.4 billion in the final quarter of 2024. 'Singapore's tourism sector continues to perform steadily,' said an STB spokesperson. Major components mixed The largely consistent TR performance in Q1 2025 came as major components made mixed showings compared with the same quarter in the preceding year. Expenditure on food and beverages (F&B) increased the most yoy, up 14.1 per cent to S$1.3 billion. This was followed by accommodation, where TR rose 6.5 per cent to S$1.4 billion. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The 'other components' segment – which includes spending on airfares on Singapore-based carriers, port taxes, local transportation, business, medical, education and transit visitors – was also up 4.1 per cent to S$2.5 billion. In contrast, shopping TR slowed 2.5 per cent to S$1.3 billion; and the sightseeing, entertainment and gaming (SEG) component moderated 16 per cent compared with the corresponding 2024 period. But STB noted that the first quarter of last year 'featured an exceptional line-up of events', including the Singapore Airshow 2024 and Taylor Swift's The Eras Tour concerts. Singapore hotels' average room rates, revenues, and occupancy for Q1 2025 similarly fell on a yearly basis. Quarter on quarter, the higher TR was due to growth in spending across all major components except shopping, where TR declined marginally. F&B expenditure picked up most on a quarterly basis, at 16.9 per cent. China drives receipts By market, Mainland China remained the top TR generator for Singapore tourism in the Q1 2025, contributing S$1.3 billion in revenue, excluding the SEG segment. This was up 9.3 per cent from its S$1.2 billion contribution to TR in Q1 2024. 'Mainland China's top TR-contributing market position is consistent with its strong IVA (international visitor arrival) performance in Q1 2025, boosted by the 30-day mutual visa exemption and the Chinese New Year peak travel season,' said the STB spokesperson. China was the source of 831,472 tourists to Singapore in the quarter. In Q1 2025, Indonesia (S$719.8 million) and Australia (S$538 million) were the second and third-largest contributors to TR respectively. The US (S$474.6 million) and India (S$342.9 million) rounded out the list of Singapore's top five TR-generating markets. Indonesia was the origin of 640,259 visitors; 312,218 came from Malaysia; 308,124 arrived from Australia; and 261,456 hailed from India. Among these key markets, Australia and the US both recorded strong TR growth of nearly 15 per cent yoy, which the STB spokesperson attributed to robust spending on accommodation and F&B. The spokesperson also pointed to F&B as a strong growth driver in general, with eight of the top 10 markets recording yearly growth in this segment in Q1 2025. This growth, they said, reflects 'Singapore's growing appeal as (a) culinary destination, and follows STB's launch of a marketing campaign in October 2024 to position Singapore as a culinary capital, showcasing the city's vibrant, diverse and innovative food scene to a global audience'.
Straits Times
01-06-2025
- Business
- Straits Times
Iata flags policy shortcomings, even as more airlines pledge to use greener fuels
An Airbus A350-1000 refuels with Sustainable Aviation Fuel for the flying displays at the Singapore Airshow 2024. ST PHOTO: AZMI ATHNI Iata flags policy shortcomings, even as more airlines pledge to use greener fuels – More airlines around the world are committing to using greener jet fuel in a bid to reach their goal of net-zero carbon emissions by 2050. But there are headwinds, with the global trade body representing the industry flagging policy shortcomings that have hindered the production and adoption of such fuels. These are made mainly from waste materials like used cooking oil, and are said to reduce carbon emissions by up to 80 per cent compared with regular jet fuel. The International Air Transport Association (Iata) said on June 1 it expects the production of such greener aviation fuels to reach 2 million tonnes in 2025, a dip of 0.1 million tonnes from its earlier projections in December 2024. While this is double the 1 million tonnes of greener jet fuel produced in 2024, the 2025 figure forms just 0.7 per cent of airlines' projected total fuel consumption this year, Iata noted. According to the association, 81 airlines have inked agreements to buy and use greener jet fuel, up from 70 in 2023, and this number is growing steadily. Singapore Airlines and its low-cost arm, Scoot, are among those that have pledged to increase sustainable fuel use. 'The problem is not the (airline) industry. The problem is the energy source,' said Dr Marie Owens Thomsen, Iata's senior vice-president for sustainability and chief economist. Speaking to reporters on the first day of Iata's three-day annual general meeting in New Delhi, she called for government policies that maximise the production of renewable energy in all forms. Dr Thomsen also called on governments to redirect some of the subsidies given to fossil-fuel companies to those producing renewable energy, including sustainable jet fuel. These subsidies amount to US$1 trillion (S$1.3 trillion) a year globally. Unless policies and behaviours change, she said the aviation sector will not meet its 2050 net-zero emissions target. 'It's not impossible. It's just that at the pace, with the investments and with the policies currently, it is a resounding no,' she noted on the sidelines. She flagged other urgent priorities for governments around the world, including the need for policies to adapt and fix unintended consequences. Iata on June 1 highlighted the sustainable jet fuel mandates rolled out in Europe and Britain. They require suppliers to add a proportion of sustainable aviation fuel into the jet fuel they deliver to airports – starting with a 2 per cent blend in 2025. But the cost of greener jet fuel – which is already two to three times more expensive than regular fuel – has doubled as suppliers have passed on added compliance costs to airlines, Iata said. The expected cost of green fuel needed to meet the mandates is US$1.2 billion at today's market prices, and the compliance fees have added another US$1.7 billion to airlines' jet fuel bills, it added. Said Dr Thomsen: 'We want to shout about it, loud and clear to everybody, so that other countries that might be thinking of mandates will think again.' In contrast, she added that she found Singapore's approach to driving greener jet fuel adoption to be 'innovative'. The Singapore Government will require flights departing from the city-state to use sustainable jet fuel, with an initial national target of 1 per cent use in 2026, and passengers will be charged a levy to help finance the cost. Early government estimates in 2024 suggest that economy-class passengers may have to pay $3 more for short-haul flights, $6 more for medium-haul flights, and $16 more for long-haul flights. This money will go towards the bulk purchase of greener jet fuel that airlines will need to use at Changi and Seletar airports. More details are expected to be announced in 2025, closer to the roll-out in 2026. Dr Thomsen said raising ticket prices and a central fuel procurement system are not policies that Iata would have suggested. But she added that there is greater faith that Singapore will reassess its policies and take a different course of action if the Government's plans do not work as intended. 'The interesting and somewhat exciting nature of the market at the moment is nobody knows how to do this. Nobody has the solution,' she said. 'Let's see if this works and what can be done.' On green jet fuel production, Iata's head of net-zero research and programmes Preeti Jain said there are about 300 projects identified globally, with about 160 of them set to come online by 2030. In Asia-Pacific, there are 28 such projects with a projected capacity of 7 million tonnes. But whether these projects can be realised is a question, with Ms Jain noting delays and slow progress despite the abundance of raw materials in the region. Join ST's Telegram channel and get the latest breaking news delivered to you.
