Singapore, a hot spot for tourism in Southeast Asia, may begin to feel the heat of the currency turmoil afflicting neighboring economies as the cost for regional visitors to vacation in the island nation skyrockets.
The Indonesian rupiah, Malaysian ringgit and Indian rupee have tumbled between 4 and 14 percent against the Singapore dollar over the past two months, translating into higher holiday costs – from accommodation to food and entertainment – for inbound tourists.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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