• Changi Airport Group (“CAG”) handled 68.3 million passengers in 2019, an increase of 4.1% y-o-y
  • New flight carriers in 2019 include Juneyao Airlines, Urumqi Air and Vistara, connecting to China and India respectively
  • Changi Airport Terminal 2 to undergo renovation works effective from February/March 2020 and to be completed in 2024
  • Decline in visitor arrival numbers from key markets such as India and Malaysia for full year 2019
  • Tourism receipts totalled S$27.1 billion in 2019, an increase of 0.5% y-o-y
  • Gentler supply growth is anticipated in the short term
  • Five-year tripartite collaboration between Singapore Tourism Board and Royal Caribbean will help to drive demand growth into Singapore
  • Hotel investment sales has continued to thrive in H2 2019