SINGAPORE, Feb. 6 (Xinhua) -- During the 2023 Chinese Lunar New Year period from Jan. 21 to Jan. 30, UnionPay purchase volumes from Chinese tourists in Singapore jumped close to three times compared to the same period in 2022, a company statement said on Monday.
The overall spending by the Chinese travelers in Singapore grew at over one and a half times when including UnionPay ATM cash withdrawals, said the statement issued by UnionPay International (UPI)), a subsidiary of China UnionPay that serves as a leading global player specialized in cross-border payment services in more than 180 countries and regions.
Chinese tourists have been returning to Singapore since Jan. 8 when China optimized its COVID-19 strategy and eased border control for out-bound travelers.
The online travel agency Trip.com reported on Jan. 31 that Singapore was the second most popular international travel destination for Chinese travellers during the holiday season, with the number of outbound flight bookings to Singapore surged more than eight times.
"We are pleased to witness the growth in payment volumes from Chinese travelers during this holiday period, and that they choose to pay with UnionPay when in Singapore," said Carine Low, Singapore country general manager of UnionPay International.
Low added that she expects "a stronger business growth as guided tour groups, free and easy travellers, and business visitors continue to pick up".
"In preparation for the return of international visitors, UPI is continuously strengthening our merchant acceptance to provide a more seamless payment experience for them. UnionPay is now widely accepted at over 40,000 merchants across Singapore, covering many categories and sectors," Low said.
During the 2023 holiday period, the Chinese tourists spent most on jewellery and watches, clothing, as well as luxury and leather goods. Food and beverage outlets, supermarkets, and clothing retailers enjoyed the most transactions.
Jenny Wang, assistant vice president of Resort World Singapore, said that many of the Chinese tourists who returned to Singapore attractions and shops chose to pay with UnionPay cards to enjoy the convenience of cashless payment and get UnionPay discounts. "It's really a win-win situation for them," she commented.
Chinese group tours to Singapore resumed Monday after a three-year hiatus. Low said she is confident that Chinese tourists will find many reasons to use UnionPay when they are enjoying the superb shopping experience, gastronomic delights, world class resorts and top-notch theme parks in the Lion City.
A single purchase
