Singapore’s Tourism Sector Recovers in 2023

March 2024

In 2023, Singapore’s tourism sector showcased remarkable resilience and recovery, with international visitor arrivals reaching approximately 13.6 million, equivalent to about 71 percent of the 2019 levels. This performance exceeded the Singapore Tourism Board’s (STB) forecast, demonstrating the effectiveness of strategies to attract a diverse range of visitors from both long and short-haul markets. The tourism receipts for the year are estimated to range between SGD 24.5 to SGD 26 billion (USD 18.2 to USD 19.3 billion), a significant achievement considering the challenges posed by the pandemic.

Key drivers of Singapore’s tourism revival included strong demand from key markets such as Indonesia, China, and Malaysia, along with buoyant recovery from countries like Australia, South Korea, and the USA. Additionally, visitors spent more time in Singapore compared to pre-pandemic levels, with the average length of stay increasing to approximately 3.8 days in 2023. This trend, coupled with robust performance in various tourism segments, including MICE events, leisure attractions, hotels, and the cruise industry, contributed to Singapore’s overall tourism success.

Looking forward to 2024, STB anticipates continued recovery momentum, with international visitor arrivals projected to reach around 15 to 16 million. Improved global flight connectivity, the implementation of mutual visa-free travel arrangements, and a positive outlook for air travel demand are factors expected to drive this growth. STB’s strategic focus on quality tourism, partnerships, product innovation, and capability building will be crucial in sustaining Singapore’s tourism growth trajectory in the coming years.

(Source: Singapore Tourism Board)

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