WIth the Taylor’s tour happening in Singapore, there are a good number of tourists coming from our South-east Asian neighbours.
These group of tourists are people with certain level of purchasing power, so we could expect that they might not be just here for the music concert, they could be doing some retail therapy.
As investors, I would be more interested to look into the Singapore hospitality and retail sector stocks, as they should be poised to gain from this tour.
$Genting Sing(G13.SI)$
With Genting having plans to improve their attractions, there might be chances that tourists here for the tour would be visiting some of the attractions and also the hotels, as they are conveniently located as well.
Genting Singapore has announced remarkable financial results for the fiscal year 2023, with a staggering 80% year-on-year surge in net profit, reaching $611.6 million.
Genting Singapore is a subsidiary of Genting Group and operates Resorts World Sentosa, a major integrated resort in Singapore. It includes a casino, hotels, Universal Studios Singapore, and other attractions. The company is involved in leisure and hospitality, focusing on gaming and entertainment.
The company’s robust performance in 2023 was underscored by an 80% YoY increase in earnings per share (EPS), reflecting the substantial growth in its bottom line. Genting Singapore closed FY23 with a heightened EPS of $0.0507.
Driving this impressive financial outcome is the company’s substantial revenue growth, which witnessed a 40% YoY improvement, soaring to $2.4 billion.
This notable uptick in revenue is attributed to Genting Singapore’s “significant recovery” across its business spectrum, encompassing various sectors, notably Resorts World Sentosa (RWS).
The RWS is one attraction that should have the tourist to come in early while they shop and tour before attending the concert.
Summary
I believe the benefit of Taylor’s tour could give Singapore more than just the fees collected, there are retail and hospitality which will benefit as the tourists from neighbouring countries and some part of Asia would have the purchasing power to spend.
This could be good for the other retail business in the tourist belt.
Appreciate if you could share your thoughts in the comment section whether you think Singapore tourism and retail would get a boost from Taylor’s tour?
@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.
Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
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