Events boost tourism to Singapore, SIA profit up

Inbound travel to Singapore expected to rise due to events
Interest in travel to Singapore is predicted to rise in the coming months, with the SG50 celebrations in August and the Formula 1 Singapore Grand Prix held in September.
Singapore will see 70% more inbound travel than the same week prior to August 9 (Singapore’s National Day), with most travellers coming from Europe, the US and East Asia, according to Sojern’s Q2 Global Travel Insights Report.
Due to the Formula 1 Singapore Grand Prix in September, Singapore can expect a 28% hike in travel volume in comparison with last year’s edition. This is due to travel intent increasing in origin countries such as the UK, Australia and Italy.
Singapore also ranked as one of the top three most globally searched destinations in the second quarter of this year, with Bangkok and Denpasar ranking first and second, respectively.
In related news, Singapore Airlines has posted a stronger first-quarter profit, due to lower fuel costs and the sale of seven Airbus A350 production slots. First-quarter net profit was SGD 91.2 million (€60.8 million) for the three months to end-June, up from SGD 34.8 million a year before.


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