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The Big Story: Why tourists are spending less on shopping and more on experiences

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Manage episode 521220839 series 2467889
Content provided by SPH Radio and MONEY FM 89.3. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by SPH Radio and MONEY FM 89.3 or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Singapore’s tourism scene has shifted dramatically since 2019. According to a new report from the Ministry of Trade and Industry, with input from the Singapore Tourism Board, total tourism receipts in 2024 have already surpassed pre-pandemic levels—even though visitor numbers haven’t fully recovered. Tourists are spending less on shopping and hotels, but more on dining, entertainment, sightseeing, and gaming.

What’s driving this move from shopping to experiences? And how will it shape Singapore’s strategy to attract higher-spending visitors and boost tourism receipts by 2040?

On The Big Story, Alexandra Parada speaks with Aidan Wong, Assistant Professor of Urban Studies at SMU, to unpack these trends.

See omnystudio.com/listener for privacy information.

  continue reading

5212 episodes

Artwork
iconShare
 
Manage episode 521220839 series 2467889
Content provided by SPH Radio and MONEY FM 89.3. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by SPH Radio and MONEY FM 89.3 or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Singapore’s tourism scene has shifted dramatically since 2019. According to a new report from the Ministry of Trade and Industry, with input from the Singapore Tourism Board, total tourism receipts in 2024 have already surpassed pre-pandemic levels—even though visitor numbers haven’t fully recovered. Tourists are spending less on shopping and hotels, but more on dining, entertainment, sightseeing, and gaming.

What’s driving this move from shopping to experiences? And how will it shape Singapore’s strategy to attract higher-spending visitors and boost tourism receipts by 2040?

On The Big Story, Alexandra Parada speaks with Aidan Wong, Assistant Professor of Urban Studies at SMU, to unpack these trends.

See omnystudio.com/listener for privacy information.

  continue reading

5212 episodes

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