Straco Corporation, a developer and operator of tourism-related attractions, has announced a 9% drop in revenue to $32.67 million for the first half of 2025 compared to the same period last year. The decline is attributed to a 13% decrease in revenue from its three attractions in China and a single-digit decline at the Singapore Flyer. Net profit for the period stood at $5.35 million, impacted by an exchange loss of $1.24 million, contrasting with an exchange gain of $0.38 million in the previous year.
The company’s key attractions, including the Shanghai Ocean Aquarium and Singapore Flyer, continued to attract visitors, especially during holiday periods. However, a less optimistic economic outlook has dampened consumer confidence and discretionary spending on leisure activities. Executive Chairman Wu Hsioh Kwang noted, “Despite the economic slowdown, the tourism sector remains resilient in both markets that the Group operates in. That said, tourists are showing greater caution with discretionary spending.”
Straco is focusing on investing in its workforce, embracing technology, and enhancing exhibit quality to maintain competitiveness. A recent partnership between the Singapore Flyer and South Korean lifestyle brand WIGGLE WIGGLE aims to diversify offerings.
China’s GDP grew by 5.3% year-on-year in H1 2025, driven by domestic demand, whilst Singapore’s GDP growth averaged 4.2% in the same period. The Singapore Tourism Board reported an increase in visitors, reaching 8.33 million in H1 2025, nearing pre-COVID-19 levels. Despite potential geopolitical and macroeconomic challenges, the tourism sector remains a focal point for growth and new experiences.
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