General Business (Singapore)

Report: Singapore’s Tourism Rises While Retail Spend Declines. What’s Causing It?

Singapore’s tourism industry has been a key support to their retail sector. In 2016, international visitor arrivals and tourism receipts scaled to a new high of 16.4 million and S$24.6 million respectively, proving Singapore’s importance as one of Asia’s leading retail destinations. However, in 2017, a decrease in retail spend was seen despite the growth of Singapore’s tourism industry. Though recently retail sales data has shown constructive signs of recovery. However, weak retail sentiments continue to persist. Despite retail sales increasing by 1.8% in July, other lackluster indicators were seen in the first half of 2017. The Retail Sales Index (RSI), which has been trending downwards since 2014, reported a fall of 4.2 percent in Q2 2017 compared to end 2016. Island-wi...

How Singapore’s Tourism Board Drives Retail Every Year

Every year, thousands of tourist flock to Singapore for the year-end holidays. It’s the time of the year when Orchard Road, the country’s premier lifestyle and shopping destination will transform into a magical wonderland. Shopping malls bedecked with flickering fairy lights, twinkling trees and elaborate decorations, street performances and festive bazaars galore, with all of these, tourists can’t help but pay a visit to immerse themselves in the Christmas spirit! The Singapore Tourism Board pours money into decorating tourist-favourite spots such as Marina Bay Sands and Orchard Road every year for the Christmas holidays. Revenues from their tourism and retail sector spike up significantly during this period. Last year alone Singapore attained record highs for the second time in two...

Accounting for Startup’s in Singapore: Financio

Running a startup is often a dream come true – seeing a vision you’re passionate about come to fruition, handpicking your own team and being your own boss are what many people aspire to. But the reality of founding a startup also usually involves stressing about money. Luckily, Financio, the cloud-based accounting software created for non-accountants, offers a tool that can effectively, efficiently simplify your financial management needs so that the stress you suffer from is brought on by things far bigger picture than accounting. Read on to learn more about how Financio can benefit you. Automated paperwork Managing paperwork and invoicing can be a huge time-suck, but using a software with account automation and e-Invoicing features is a simple fix to making this huge undertaking a breeze...