Singapore posts tourism spend record in 2024
Singapore’s tourism sector posted a strong performance in 2024, with tourism receipts likely to set a new record in tourism spend.
International Visitor Arrivals increased by 21% compared to 2023 to 16.5 million, showing robust growth in visitor arrivals.
Ms Melissa Ow, Chief Executive, Singapore Tourism Board (STB), said, “This 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 competitiveness.”
Tourism receipts reached $22.4 billion between January and September 2024 (an increase of 10% compared to the same period in 2023).
All spend categories have shown year-on-year growth, led by Sightseeing, Entertainment & Gaming (SEG) at 25%.
Mainland China, Indonesia, and Australia emerged as the top tourism receipts generating markets, contributing $3.58 billion, $2.13 billion, and $1.44 billion respectively.
Top markets for visitor arrivals were Mainland China (3.08 million), Indonesia (2.49 million) and India (1.20 million).
Other source markets that exhibited healthy year-on-year growth included Japan, Taiwan, the UK, and the US.
Changi Airport had a total international seat capacity of over 41 million, representing a 15% increase compared to 2023 and 98% recovery to 2019.
Other key factors that contributed to the overall growth in visitor arrivals include Singapore’s robust year-round calendar of lifestyle events and concerts.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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