APAC Hospitality Recovery Race – Singapore leads into first corner

Post-Covid-19 recovery is beckoning in the hospitality sector in Asia Pacific, according to Schroders.

Among the region’s developed countries, the recovery race is being led by Singapore, which hosted the Formula 1 Grand Prix in early October, with Japan just starting its engines.

In Singapore, demand for hotel rooms is dominated by international travelers, both tourists and businesspeople. The country received 19.1 million international visitors in 2019 – more than three times its population of six million. Traditional attractions for tourists include its lively mix of cultures and a vibrant dining scene -- Singapore has the second highest per capita number of Michelin Star restaurants among leading Asian cities (although Tokyo has the highest absolute number). From a business perspective, Singapore’s position as the leading communications hub of Southeast Asia and strong government support turned the country into a top MICE destination prior to Covid