Tourist arrivals forecasted at 15–16 million for 2024, less than 2019’s record numbers
Singapore’s tourism sector is expected to see 15 million to 16 million international visitors in 2024, still falling short of pre-pandemic 2019 levels. Despite better-than-expected tourist spending in 2023, the Singapore Tourism Board (STB) has forecasted a slower recovery for 2024.
Tourism receipts are projected to range between S$26 billion to S$27.5 billion. Although the global flight connectivity and the visa exemption agreement with China should help boost tourism, these figures are still below 2019’s record of 19.1 million visitors and S$27.7 billion in receipts.
In 2023, Singapore hosted 13.6 million visitors, approximately 71% of the pre-pandemic levels. The top markets for tourists were Indonesia, China, and Malaysia, with a notable recovery from countries like Australia, South Korea, and the United States. The tourism receipts for 2023 exceeded expectations, totaling between S$24.5 billion and S$26 billion, around 90% of 2019’s total.
Industry observers noted that spending per capita has increased, partly due to a shift towards high-value tourists who spend more. The average length of stay has also risen, now at 3.8 days, contributing to higher tourism receipts.
Looking ahead, Singapore’s tourism is supported by a strong calendar of leisure, sporting, and business events in 2024. Hotel performance and the cruise industry are also expected to remain robust, with Singapore posting a record 2 million passenger throughput in 2023. However, uncertainty in global geopolitics and economic factors may continue to impact travel sentiment and recovery rates.
