Singapore takes Top Spot as Most Affordable Tourist Shopping Destination in Asia Pacific

Singapore has emerged in top spot as the most affordable tourist shopping destination in the Asia Pacific region. This is based on the results from a comparative study by Euromonitor International on retail pricing in eight leading shopping destinations in the Asia Pacific region.

The study, carried out in October last year, aimed to determine how Singapore fared within a group of eight leading Asia Pacific shopping destinations in retail pricing for five product groups. Apart from Singapore, the other cities included in the study were Bangkok, Dubai, Hong Kong, Kuala Lumpur, Shanghai, Sydney and Tokyo.

The five product groups comprised apparel; electronics and electrical goods; cosmetics, perfumes and toiletries; watches and jewellery; and handbags, wallets and other leather goods. 50 popular international brands were selected for the study and they include household names like Sony, Apple, Levi’s, Swatch, Louis Vuitton, Chanel and Gucci. These 50 products were selected based on their appeal to shoppers, classic value, international appeal, and availability in at least six of the eight cities surveyed.

The comparisons in the study were based on three price categories: price inclusive of value-added tax (VAT); price with VAT excluded; and effective prices. Effective prices reflect the retail list prices after taking into account, where applicable, the VAT rebates offered by the cities.

Singapore ranked first in two of the three price categories – the VAT-excluded and effective price. Hong Kong came in second while Bangkok came in third in both categories. For the VAT-included category, Singapore ranked second after Hong Kong while Kuala Lumpur ranked third.

Ms Sulian Tan-Wijaya, Director, Tourism Shopping, Singapore Tourism Board said, “The common perception is that Singapore is more expensive relative to other Asian shopping destinations. The survey results affirm Singapore’s all-round competitiveness as a shopping destination. Beyond pricing, Singapore also offers high quality assurance, excellent after-sales service, diverse and authentic products and brands, a safe shopping environment, as well as a comfortable and convenient transportation system.”

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