The Edge Singapore spoke to Quek Choon Yang, chief technology officer for STB who agreed that businesses that rely on tourism are “badly affected”. As it is, STB release the visitor arrival data for March, and it was found that the Covid-19 pandemic has cause a 84.7% y-o-y fall in visitor arrival.
SINGAPORE (May 29): Companies that rely on Singapore’s tourism industry have been hit hard by the Covid-19 pandemic and are facing all sorts of challenges at this moment, such as cash flow disruption, slow down in sales, outlet closures and more.
According to information services company Experian, the overall business outlook among small and medium enterprises (SMEs) is increasingly negative, with both external and domestic facing sectors impacted by disruptions to global supply chains and social distancing measures.
