Investigating the Impact of COVID-19 on Singapore’s  Tourism Industry and Economy

Carrie Lee and Yoomi Kim

Abstract
This study aims to find economic effects of COVID-19 on tourism in Singapore. Tourism receipts were used as the variable representing tourism, whilst employment (by sector) statistics and GDP were used to represent Singapore’s economy. The results indicated Singapore’s tourism industry did suffer for the duration of the crisis, as evidenced by the negative YoY change. Seconds, the result of regression analysis indicates that the tourism industry does contribute to employment opportunities, but the same cannot be said for its relationship with GDP. The negative correlation between tourism receipts and GDP needs to be further investigated and validated.

Keywords
Singapore, Tourism industry, GDP, COVID-19, Employment