Meanwhile, the retail sector in Singapore is facing a downturn as more locals opt to shop overseas due to the stronger Singapore dollar.
SINGAPORE: Singaporeans rank third in the world’s top spenders on international vacations. According to new data from Merchant Machine, based on the latest UN Tourism figures, the average Singaporean tourist spends US$2,966 on overseas trips.Australians lead the global rankings, with an average spend of US$3,078 per trip, followed by South Koreans at US$3,040, making South Koreans the biggest spenders in Asia. Singaporeans place third overall and second in Asia.
In Asia, after South Korea and Singapore, Taiwan ranks third , with Taiwanese tourists spending an average of US$2,073 per trip. Indonesia follows with an average spend of US$1,998, ranking eighth globally. China ranks fifth in Asia, with Chinese tourists averaging US$1,886 per trip, placing them tenth globally.
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