Tourism: Look on the bright side

In Tourism: Where Covid-19 really hurts us, I pointed out that the drop in tourism will hurt the economy. But, looking on the bright side, things no longer that expensive for us locals.:

Cities that get a large part of their income from tourism could become cheaper as their economies shrink and prices are driven down.

The impact of the coronavirus has shaken the world economy, with the travel and tourism industries among the hardest hit. Hong Kong and Singapore are two of the cities that could see a big drop in revenue as demand for leisure activities, restaurants and accommodation plummets. This weaker demand could drive down prices, making these cities cheaper for their inhabitants.

https://www.bbc.com/news/business-51922267

 

True, things no longer that expensive for us locals. But got money to spend or not?

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor
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14 Responses to “Tourism: Look on the bright side”

  • patriot of TUMASIK:

    Makes no Difference to the Parasites LEEching on the people with their Million dollar salaries leh!!! Hurry lah!!! have GE and assure another five years MORE add my son to the LEEst too

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  • REGIME CHANGE is the solution:

    If Malaysia and Indonesia winds up like Italy and they stop the export of food so they can feed their citizens first, Singapore is screwed. It has plenty of money but what is most needed – food – is not for sale.

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  • gone to the supermarkets:

    //pointed out that the drop in tourism will hurt the economy. But, looking on the bright side, things no longer that expensive for us locals.//

    yar lor ? with so much ‘national spending’ (help, assistance, grants) when economy is in a jam, who is going to pay for it lar (like some white doggies would ask whenever oppo brings up certain matter to help the poor ??) ??

    most probably, the cost recovery will be in the form of more fines from petty offences (parking, speeding, smoking in non designated areas, etc), taxes (existing rate or whatever new staff is to be invented later on) and rent-seeking after the elrection if the white monkey idiots win big time ? not true meh, is there some discerning pattern by the white idiots before and after each round of elrection ???

    and this will not result in cheap or less expensive things, have you gone to the supermarkets ?? notice the price of the most essential item in rice, the price now compared to two years ago ???

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  • Police CLOSE DOWN:

    What a great article! Majority from other sources. Many are buying online and shunning physical stores in Spore.

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  • TruBlu:

    No TOURISTS?
    Look,since when do sgs complain of tourists?
    We are talking FTs and they are aplenty?!
    You acting blur or truly stooooopid?!

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  • TruBlu:

    Oh,BTW,EVEN THE STILL RICH N POWERFOOL$$$ DO NOT RUSH TO BUY PRATA,PATEK PHILLIPE OR EAT AT PO$H HOTRL$,THEY RUSH TO *HOARD* TOILET PAPER?!!!

    BUT STILL,THEY ARE *HOARDING*?
    Guess THEY WILL NEVER LEARN TILL THE TOILET PAPER OUTLAST THEM????

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  • TL Tan:

    The writer forgot one important point. While our borders have been closed to international tourism, domestic tourism has been picking up the slack. Staycations and visits to our various attractions are testimony to the strong purchasing power of Singaporeans, backed by huge cash savings. It also means our tourism industry will not be as badly affected as other tourist hot spots which rely exclusively on foreign visitors but without any domestic purchasing power.

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  • oxygen:

    @ TL Tan

    THAT MOANING AND GROANING BELOW is another chapter of your usual fart of fiction.

    TL Tan: The writer forgot one important point. While our borders have been closed to international tourism, domestic tourism has been picking up the slack. Staycations and visits to our various attractions are testimony to the strong purchasing power of Singaporeans, backed by huge cash savings. It also means our tourism industry will not be as badly affected as other tourist hot spots which rely exclusively on foreign visitors but without any domestic purchasing power.

    Would you like to share your “wisdom” uninformed thoughts on this bloomberg publishing?

    Singapore Bankruptcies Started Surging Even Before Coronavirus Hit

    https://www.bloomberg.com/news/articles/2020-03-24/singapore-s-surging-bankruptcies-bode-ill-for-banks-bad-loans

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  • compositional piece by student:

    //domestic tourism has been picking up the slack. Staycations and visits to our various attractions are testimony to the strong purchasing power of Singaporeans, backed by huge cash savings. It also means our tourism industry will not be as badly affected as other tourist hot spots which rely exclusively on foreign visitors but without any domestic purchasing power.//

    aiyoh ? just to illustrate, do you mean that tourism from international clients has dropped by 50 points but domestic tourism has gone up by 20 points – still a net negative ???

    even the increase of domestic tourism in this small red dot during this crisis is doubtful ? more likely ownself-create-ownself story telling (the like of compositional piece by students) to console oneself ?

    aiyoh, we are not big country like aust or usa or europe where one end to another end is a few hundred or thousands of kilometers away with many interesting places yet to be visited ????

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  • MarBowling:

    Tan Golden Chain,

    Go take a good look at CLOWN [email protected] Mai Hum pet project which he is so fiacking proud of will soon turn into STONES And PEBBLES! LOL.

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  • TL Tan:

    @Oxygen
    Our local banks have high loans loss provisioning reserves and high capital adequacy ratios. The increase in non-performing loans have minimal impact on our local banks. The recent sell-off in stock market is overdone. Our local banks have begun buying back their own shares, which are undervalued in the midst of the sell-off.

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  • oxygen:

    @ TL Tan

    YOU ARE A WORM OF A LIAR happily exploding your facile farts of fiction – your usual.

    IF our local banks “have high loans loss provisioning reserves” as you alleged, it means their loans portfolios are dubious of quality even in good time. In bad times, they collapse even faster.

    As your claims that our local banks have begun buying back their own shares, PLEASE SUPPLY SUBSTANTIATION via stock exchange announcements (as all our local banks are listed on SGX). Without that, one must conclude it is your predictable farts of fiction.

    TL Tan: Our local banks have high loans loss provisioning reserves and high capital adequacy ratios. The increase in non-performing loans have minimal impact on our local banks. The recent sell-off in stock market is overdone. Our local banks have begun buying back their own shares, which are undervalued in the midst of the sell-off.

    As for your claim that local banks are undervalued in the midst of sell-off, SHOW ME PROOF OF WHICH BANKING CEOs dare to publicly proclaim their shares are allegedly “UNDER-VALUED”.

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  • change the whole landscape:

    //Our local banks have high loans loss provisioning reserves and high capital adequacy ratios. The increase in non-performing loans have minimal impact on our local banks. The recent sell-off in stock market is overdone. Our local banks have begun buying back their own shares, which are undervalued in the midst of the sell-off.//

    aiyoh ? i thought the same but then what happens if the damage causes a new normal of low and takes a longer time to inch back the previous peak (or norm) or something close to it ? i hope not lar and hope that you are right as I have some kechil interest in the stock market also lar ???

    an analogy, a serious earthquake may change the whole landscape permanently lar ???

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  • oxygen:

    @ TL Tan

    YOU ARE CAUGHT PUN PUI (farting) yet AGAIN.

    Local banks buying their own “undervalued” shares?

    TL Tan: Our local banks have high loans loss provisioning reserves and high capital adequacy ratios. The increase in non-performing loans have minimal impact on our local banks. The recent sell-off in stock market is overdone. Our local banks have begun buying back their own shares, which are undervalued in the midst of the sell-off.

    PLEASE READ WHAT OCBC have been advising their own clients in the media -

    Bank of Singapore urging leveraged clients to sell in rally.

    https://sg.yahoo.com/finance/news/bank-of-singapore-urging-leveraged-clients-to-sell-in-rally-083459429.html

    “We are only beginning to see the first part of the crisis….Many countries are still not well prepared, still do not have a clear plan of how to deal with it…customers have been reducing their leverage “as much as possible” over the past few weeks…”

    @ TL Tan, are you not behaving like XIAO KOW LUAN PUI (mad puppy anyhow bark) yet again??

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