Singaporeans love to shop overseas

Never mind that Singapore is renowned globally as a shopping destination.

Singaporeans want to shop elsewhere.

A survey by insurance company AIG conducted back in April found 36 per cent of the 1205 polled go on holiday solely to shop.

When they take a holiday for retail therapy, Singaporeans spend an average of S$336 a day.

The three most popular overseas shopping destinations are Bangkok, Hong Kong and Taiwan.

AIG says it had received 7500 insurance claims between November 2014 and October 2015 for baggage lost on trips home from – in order – Thailand, Taiwan and Hong Kong.

The insurer says people should keep receipts or photographs of their overseas purchases to ensure a smooth claims process.

Other reasons for non-business travel by Singaporeans rated far lower than retail therapy, including a weekend getaway (21 per cent), to see somewhere exotic (12 per cent) or to indulge in a luxury break (four per cent).