Thursday, February 1, 2024
In 2023, Singapore’s tourism sector displayed robust recovery and resilience, delivering a strong performance. International visitor arrivals (IVA) reached 13.6 million, approximately 71% of the 2019 level, meeting the Singapore Tourism Board’s (STB) forecast of 12.0 to 14.0 million visitors. Tourism receipts (TR) are estimated to be between $24.5 billion and $26.0 billion, surpassing the forecast of $18.0 to $21.0 billion set in 2023.
Key markets such as Indonesia, China, and Malaysia drove visitor arrivals, with Singapore welcoming strong demand from various markets, including Australia, South Korea, and the USA. Tourism receipts for the first nine months of 2023 exceeded or approached pre-pandemic levels across all spend categories.
The average length of stay increased to approximately 3.8 days in 2023, compared to 3.4 days in the same period in 2019. Singapore continued to position itself as a global-Asia node for Meetings, Incentives, Conferences, and Exhibitions (MICE) and business travel, attracting events aligned with growth industries.
The hotel industry’s performance in 2023 was encouraging, surpassing 2019 levels in Average Room Rate (ARR) and Revenue per Available Room (RevPAR). The industry welcomed new establishments, contributing to Singapore’s appeal as a tourism destination.
Singapore strengthened its position as a regional cruise hub in 2023, with 2 million passenger throughput and numerous ship calls. Several significant business events took place for the first time, highlighting Singapore’s growing prominence in hosting impactful gatherings.
New and enhanced leisure and sporting events, along with innovative tourism concepts, enriched Singapore’s offerings. The city-state embraced technology, introducing augmented reality experiences for tourists and launching initiatives to uplift digital capabilities in the tourism sector.
Singapore achieved certification as a sustainable destination and ranked 2nd in Asia Pacific and 17th globally in the 2023 Global Destination Sustainability Index. Efforts were made to develop sustainability standards for MICE and Attractions, aligning with the Singapore Green Plan 2030.
A global marketing campaign, “Made in Singapore,” was launched in September 2023 to inspire travel to Singapore. Branded entertainment partnerships and collaborations with industry leaders aimed to enhance visitor experiences and promote Singapore as a top choice destination.
As of September 2023, the tourism workforce had recovered to around 88% of 2019 levels. STB continued initiatives to support hiring and raise awareness about careers in the tourism sector.
The outlook for 2024 anticipates continued recovery, driven by improved global flight connectivity and the mutual 30-day visa-free travel agreement between China and Singapore. International visitor arrivals are expected to reach 15 to 16 million, generating $26.0 to $27.5 billion in tourism receipts. The focus for the future includes achieving quality tourism, cultivating strategic partnerships, investing in new experiences, and supporting stakeholder capabilities. Exciting developments, upcoming hotel openings, integrated resort experiences, and top-tier MICE events contribute to Singapore’s promising prospects in 2024 and beyond.
Sunday, April 28, 2024
Sunday, April 28, 2024
Sunday, April 28, 2024
