Government forecasts tourism receipts will reach up to $24bn in 2011

12-13 million visitors are expected to arrive this year in Singapore compared with the 11.6 million visitors last year.

According to OCBC, Trade and Industry Minister of State Isaran said that they forecast $22-24 billion worth of tourism receipts for 2011.

Although it was still too early to draw conclusions about the long-term economic impact of the IRs, the two IRs are expected to contribute $2.7 billion in EVA each a year.

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