As business travel budgets are slashed, Singapore has reported a decline in visitors. Receipts are reportedly down 6.8% with STB reporting that this is largely due to a decrease in business meetings, incentives and conferences.
Lionel Yeo, STB’s CEO said: “As the average BTMICE visitor spends about two times more than the average leisure visitor, the fall in BTMICE visitor arrivals and spending due to companies cutting back on both travel and trip budgets has had a significant impact on our tourism receipts.”
The decline in tourism income was also reported to be strongly felt in Malaysia (26%), Indonesia (21%), and Australia (10%).
Are you interested in learning more about corporate travel? BTTB Australia is returning to Melbourne for the first time since 2001 and will enable travel category managers and their suppliers to meet, learn and share best practise. The conference will be held on 4th and 5th May 2016, Melbourne. Read more details here: http://bttbonline.com/