Singapore (Commonwealth Union)_ Singapore’s tourism sector achieved an extraordinary milestone in 2024, recording a historic 16.5 million international visitor arrivals, a remarkable 21 percent increase from the previous year. This surge in visitors, coupled with anticipated strong performance in tourism receipts, sets the stage for even higher achievements in 2025. Accordingly, the Singapore Tourism Board (STB) has indicated that tourism receipts for 2025 are expected to reach the upper bound of their forecast, establishing a new benchmark for visitor spending. Key contributing markets include Australia, New Zealand, China, and major countries such as Japan, Taiwan, the UK, and the USA. These markets were pivotal in Singapore’s outstanding tourism performance in 2024.
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Australia emerged as one of the standout performers, ranking among the top three tourism revenue-generating markets. Australian visitors contributed S$1.44 billion to Singapore’s tourism receipts, and the country ranked fifth in visitor arrivals, with 1.17 million Australians visiting Singapore, a significant 8.2 percent increase from 2023. New Zealand also posted strong growth, with a 13.9 percent rise in arrivals to 157,500. Melissa Ow, Chief Executive of the Singapore Tourism Board, attributed the growth to industry-wide initiatives aimed at enhancing visitor experiences. She said, “In 2024, Singapore’s tourism sector posted a strong performance, an affirmation of the industry’s efforts in refreshing our products and experiences, as well as embarking on new collaborations this past year”.
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Several factors contributed to the tourism boom, including the increased connectivity of Singapore’s air travel network. Notably, Changi Airport saw a 15 percent increase in international seat capacity compared to 2023, reaching over 41 million seats, bringing the airport’s capacity to 98 percent of pre-pandemic levels. Singapore’s strong air connectivity played a crucial role in driving the influx of international visitors. Additionally, Singapore’s robust year-round calendar of lifestyle events and concerts, such as the Formula 1 Singapore Airlines Singapore Grand Prix and Singapore Art Week, bolstered the country’s appeal. Iconic family-friendly attractions like Gardens by the Bay, Sentosa, and Mandai Wildlife Reserve, including the recently launched Bird Paradise, also helped draw large numbers of tourists, particularly families seeking diverse experiences.
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Furthermore, Singapore’s cruise industry also achieved notable successes in 2024, with several high-profile maiden calls from leading cruise lines, including Royal Caribbean International’s Anthem of the Seas, Silversea Cruises’ Silver Nova and Silver Dawn, and Viking Cruises’ Viking Venus. Additionally, Singapore secured the renewed commitment of several cruise lines to homeport in the city for the long term, underscoring the growing importance of the cruise industry to Singapore’s tourism landscape. The country saw 1.8 million passengers from 340 ship calls in 2024.
The hotel industry also saw positive growth, with Average Room Rate (ARR) and Revenue per Available Room (RevPAR) rising year-on-year. ARR increased by 1.4 percent, reaching SGD276, while RevPAR saw a 3.0 percent rise, reaching SGD226. The average occupancy rate for hotels stood at 81.8 percent, an increase of 1.3 percentage points from 2023. Tourism receipts between January and September 2024 amounted to S$22.4 billion, a 10 per cent increase from the previous year. The largest growth was seen in sightseeing, entertainment, and gaming, which grew by 25 percent, while accommodation spending rose by 17 percent. Other categories such as food and beverage, shopping, and other travel-related expenses also saw positive growth, reflecting continued strong demand for Singapore’s diverse offerings.
Furthermore, key contributing markets for tourism receipts included Mainland China, which generated S$3.58 billion, followed by Indonesia (S$2.13 billion) and Australia (S$1.44 billion). Mainland China and Japan experienced the strongest year-on-year growth in tourism receipts, contributing significantly to Singapore’s overall performance. Looking ahead to 2025, STB has set a bold forecast for continued growth, projecting international visitor arrivals between 17.0 and 18.5 million and tourism receipts between S$29.0 billion and S$30.5 billion. Despite potential challenges posed by macroeconomic and geopolitical factors, the STB remains committed to achieving sustainable tourism growth and ensuring that Singapore maintains its position as a leading global destination.
Ow said, “As we reflect on the milestones of 2024 and the past 60 years of tourism development in Singapore, we can confidently say that tourism has contributed significantly to our economy”. She added, “Together with our industry partners, STB is committed to sustaining our tourism growth by increasing Singapore’s mindshare and market share, ensuring a diversified portfolio, and continuing to strengthen the vibrancy of our destination.” With a packed calendar of new attractions, events, and experiences lined up for 2025, Singapore’s tourism industry is poised to continue its upward trajectory, delivering memorable experiences for visitors and reinforcing its position as one of the world’s most dynamic and attractive destinations.
