Singapore has enjoyed its casino industry in full. The country has been entertaining some of the world’s finest facilities and this has rubbed off on it, and particularly – its finances. In the first quarter of 2018, Singapore managed to amass the respectable $1.1 billion thanks to tourism, and part of this was courtesy of the vibrant gaming scene. And the numbers are only likely to get better.
Turning a Hobby into a Boost for the Economy
Tourists have been flocking to Singapore for a flutter throughout the entire first half of the year. The gaming tourism indices have been strong and entertainment spending has soared to new heights. In comparison, Singapore registered 6% less revenue a year earlier over the same period.
Despite the jump in overall cash spent, Singapore registered that fewer people have actually come to visit the country. Another useful gauge was the overall tourist spending in the period, which went down a little by 0.5% year-on-year.
More useful information was revealed by Singapore Tourism Board on Tuesday, which indicated tourists spent a fair bit on sightseeing, entertainment, and most pertinently – gaming.
Other expenses were also featured, but the three aforementioned segments provided 22% of the entire revenue. Along with shopping, the trio seem to be just as important source of entertainment for visitors to the country.
Singapore and its Casinos
Singapore most definitely doesn’t lack quality properties. Marina Bay Sands managed by Las Vegas Sands and Resorts World Sentosa, which is owned by Genting Singapore. Whilst Singapore hasn’t been the most frequented destination when it comes to gaming, the country has certainly seen a spike in the interest on the part of tourist.
Similarly, Macau and Jeju Island in South Korea are also visited by tourist who go there exclusively for the purposes of gambling. Japan is now shaping as yet another destination that will see gamers flock to its islands in pursuit of new thrills provided by some of the world’s leading house names in the industry.
Even if tourists have become somewhat thriftier, their number has increased somewhat notably. Estimated 4.6 million tourists arrived in the country during the first quarter, contributing to a net increase of 7.3%, compared to the same period a year earlier. Chinese tourists have also been on the rise with 933,000 people coming to Singapore in the first six months of 2018.
Indonesia, meanwhile, was another nation whose citizens showed great interest in Singapore, with 747,000 people coming to the country. For the entire six months, estimated 9.2 million tourists have entered the country/
A Trip into the Unknown
Even though the data was put together, the shopping, gaming, and sightseeing segment are not that difficult to navigate. A piece published in Fortune back in 2016 stipulated that tourists in Singapore would much rather spend their money on purchasing goods rather than playing at the slots.
Despite the temporary downturn trend back in 2016, things seem to be back to normal and the country’s casinos are back on their feet. Even then, some caution is advised, as Singapore’s preferences may not be always aligned with the need to put down a solid wager.