SINGAPORE: Singapore’s tourism sector has gone through a tough two-year period due to the COVID-19 pandemic.
Airlines, especially Singapore Airlines, which has no domestic traffic, and Changi Airport suffered a sharp drop in demand, after a record year in 2019.
In the hotel industry, occupancy rates and hotel room revenue remained at all-time lows.
For example, in September this year, the best month for the Singapore hotel industry of the year, room revenue was S$75.9 million, compared to S$375.9 million in September 2019. Revenue per available room was S$100, half the corresponding figure in 2019.
Crowd-drawing events like the Formula 1 Singapore Grand Prix night, which usually takes place in September each year, are packed.
A few, like the new Bloomberg Economic Forum in November, are beginning to bring some life back to hotels, but they’re only an iota of pre-pandemic travel.
Despite the two difficult years and the ongoing challenges posed by the new variables of the coronavirus, the industry is putting up a brave front.