More Tourists in January

International tourist arrivals to Singapore rose in January to a new post-pandemic high, with over 930,000 visitors. The Singapore Tourism Board expects the nation to receive up to 14 million international visitors this year, more than double the 6.3 million recorded in 2022. Tourism receipts are also expected to grow from around S$14 billion in 2022 to as high as S$21 billion this year.

This may bode well for domestic consumer, leisure and hospitality-related sectors. Listed in Singapore are seven S-Reits that have significant exposure to Singapore-based retail properties.