Singapore May visitor arrivals plummet to just 880

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

SINGAPORE had just 880 visitor arrivals in May 2020, as the country remained closed to short-term visitors to stem the risk of importing Covid-19 during the second month of its 'circuit breaker' period. Read more at The Business Times.

DBS Bank senior economist Irvin Seah believes it will be"extremely difficult" for visitor arrivals to recover to pre-pandemic levels without a vaccine or cure, estimating that a recovery could take about two years."It will be a very tall order to even return to 10 to 20 per cent of what it used to be. At 1.49 million, 10 per cent is already more than 100,000," Mr Seah said.

In the meantime, hotels have been given a lifeline, albeit a flimsy one, by serving as dedicated facilities for people who need to serve their 14-day Stay Home Notice . This was made mandatory in late March for Singapore residents and long-term pass holders returning from the US and UK. The rule was extended to cover all returnees from April 9.

With hotels used as dedicated SHN facilities during the circuit-breaker period from April 7 to June 1, they were not allowed to offer staycations, a rule that continues even into Singapore's phased reopening.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore had 880 visitor arrivals in May 2020, down from 1.49m in May 2019: STBSINGAPORE had just 880 visitor arrivals in May 2020, as the country remained closed to short-term visitors to stem the risk of importing Covid-19 during the second month of its 'circuit breaker' period. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Singapore retail sales notch record 52.1% drop in May on 'circuit-breaker' falloutSINGAPORE retail sales plummeted by a record degree in May, as the second month of the national “circuit breaker” extended the sector’s losses. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Corporate debt defaults spike in Jan-May this year, exceeding 2019 total: Fitch RatingsGLOBAL corporate defaults have seen a 'dramatic increase' as the economic crisis from the coronavirus pandemic dealt a body blow to companies around the world, Fitch Ratings said. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »