Chart of the Day: Tourism arrivals to drop by 28% in 2020

Singapore hotels are bearing the brunt of the plunging tourism growth.

This chart from Morgan Stanley shows that tourism arrivals are expected to fall by 25-30% in 2020 due to the COVID-19 outbreak.

Though hotels are in line with industry performance, such as City Developments (CDL) which currently has 40-50% occupancy levels, hotels’ RevPAR is sighted to be on a downward growth.

Morgan Stanley believes that hotel RevPAR will decline 31% YoY in 2020.

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