Singapore tourism sector posts strong performance in 2024; tourist spending set to hit new high

VISITOR ARRIVALS

International visitor arrivals to Singapore increased by 21 per cent to 16.5 million.

According to STB, the top markets for visitor arrivals were China, Indonesia and India.

“Other markets that exhibited healthy year-on-year growth included Japan, Taiwan, the UK, and the USA, representing a good mix of short, mid and long-haul markets,” said STB.

STB attributed the 30-day mutual visa exemption with China, and Singapore’s strong growth in air connectivity as factors.

Other key factors that contributed to the overall growth in visitor arrivals include Singapore’s year-round calendar of lifestyle events and concerts, which has enhanced the country’s “appeal as a premier tourist destination”. 

“Family-friendly attractions at precincts such as Gardens by the Bay, Sentosa, and Mandai Wildlife Reserve, including the Bird Paradise, along with key leisure events like the Formula 1 Singapore Airlines Singapore Grand Prix 2024 and Singapore Art Week, were also instrumental in boosting visitor arrivals and spending across the tourism sector and related industries,” STB said.

Concerts by Coldplay, Ed Sheeran and Taylor Swift “generated substantial economic benefits and enhanced Singapore’s global brand, with spillover effects to adjacent tourism industries such as retail, dining and hotels”. 

STB added that 2024 was an “exceptional year” for world-class entertainment and it will continue to focus on attracting a wide range of events across lifestyle and sports.

STB’s chief executive Melissa Ow added that the country’s strong performance in its tourism sector is “an affirmation of the industry’s efforts in refreshing our products and experiences, as well as embarking on new collaborations this past year”. 

“Collectively, these efforts elevated Singapore’s destination appeal and strengthened the sector’s capabilities and competitiveness,” Ms Ow said.

2025 OUTLOOK

2025 international visitor arrivals are expected to hit between 17 million and 18.5 million, bringing in approximately S$29 billion to S$30.5 billion in tourism receipts, said STB.

It also acknowledged potential headwinds “stemming from geopolitical tensions and macroeconomic challenges”, adding that it remains focused on driving tourism growth to defend and extend Singapore’s global position.

Ms Ow added: “Together with our industry partners, STB is committed to sustaining our tourism growth, by increasing Singapore’s mind share and market share, maintaining a diversified market portfolio and strengthening destination vibrancy.”

In 2025, Singapore’s tourism landscape will continue to welcome new developments, including the introduction of new attractions and experiences, and a robust line-up of leisure and MICE events, the board said.

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