International Visitor Arrivals to Singapore increased by 21% vis-à-vis 2023 to16.5 million 

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Singapore’s tourism sector posted a strong performance in 2024, with Tourism Receipts (TR) likely to reach the upper bound of STB’s 2024 forecast, setting a new record in tourism spend. International Visitor Arrivals (IVA) increased by 21% (compared to 2023) to 16.5 million, showing robust growth in visitor arrivals.

Melissa Ow, Chief Executive, Singapore Tourism Board (STB), 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. Collectively, these efforts elevated Singapore’s destination appeal and strengthened the sector’s capabilities and competitiveness.”

2024 Tourism Performance

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%,  followed by Accommodation at 17%. Meanwhile, Food & Beverage (F&B) and  Shopping saw a 6% and 5% increase respectively, with other categories such as  airfares and business spending contributing to TR as well.

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 (excluding Sightseeing, Entertainment and Gaming)². Notably, Mainland  China and Japan showed strong year-on-year growth in tourism receipts.

Top markets for visitor arrivals were Mainland China (3.08 million), Indonesia (2.49 million) and India (1.20 million). 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. Contributing factors included the 30-day mutual visa  exemption³ with Mainland China, and Singapore’s strong growth in air connectivity. In  2024, 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, which has  enhanced the city-state’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. Singapore continued to attract quality MICE events, while the cruise  industry saw several highlights including notable maiden calls and ships homeporting.

In addition, Singapore’s hotel industry demonstrated positive growth in 2024, with  Average Room Rate (ARR) and Revenue per Available Room (RevPAR) increasing year on-year, reaching $276 (1.4% increase compared to 2023 ARR) and $226 (3.0%  increase compared to 2023 RevPAR) respectively. Average Occupancy Rate (AOR)  was 81.8% in 2024, a 1.3% point increase compared to 80.5% in 2023. There was an  addition of 1,421 new hotel keys, including notable openings such as The Standard  Singapore, Into the Woods and Mercure ICON Singapore City Centre.

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