According to an article by Bangkok Post, Singapore hotel room rates have hit the highest rates in the past 6 years after the tourism industry picked up following the easing of pandemic restrictions by the Singapore Government.
Based on the data provided by the Singapore Tourism Board (STB), the average rate for hotel rooms in Singapore in June hit a daily rate of around SGD 238.32.
This was the highest recorded hotel room rate since September 2016 and in terms of percentage, it marked a 63% increase in price compared to a year back when pandemic measures were still in force.
First few countries to end testing for inbound travelers
Singapore is also one of the first few countries in the world to announce that they will remove testing for all inbound travelers so long as the individual has been vaccinated.
With the easing of measures, conferences and large scale events were slowly allowed to be held which attracted more visitors to the island country which in turn caused more hotel rooms to be booked.
Data from the STB showed that in the first half of 2022, the amount of arrivals as compared to a year ago increase by 12 fold.
STB also mentions that Singapore is expected to welcome around 4 million to 6 million visitors in 2022.
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