Tourism Decline Continues to Dent Singapore’s Retail Sales

Tourism Decline Continues to Dent Singapore’s Retail Sales

Marina Bay Sands in Singapore. Hu Chen via Unsplash.

Major shopping events like Singles’ Day and Black Friday gave Singapore’s retail sector a pick-me-up last November, but sales declined again in December, the Straits Times reported.

Retail sales fell 3.6 percent year-on-year, after a revised 1.7 percent decline in November. The lack of tourist flows continued to hit the likes of department stores and cosmetics brands, which saw between 22.8 and 35.4 percent declines and are among the categories hit hardest by the pandemic.

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