Synopsis: In 2023, Singapore’s tourism industry made a significant comeback, welcoming 13.6 million tourists, of which 1.1 million were from India. The demand from important markets like China, Malaysia, and Indonesia propelled the rebound. It is anticipated that Singapore’s tourist revenue would surpass projections, amounting to 24.5-26 billion Singaporean dollars. Singapore was the destination of choice for longer stays—visits stayed an average of 3.8 days. Increased airline capacity and the introduction of China and Singapore’s mutual 30-day visa-free travel agreement are anticipated to propel the recovery in 2024. The hotel sector fared well as well, exceeding 2019 levels in terms of revenue per available room and average room rate.
Singapore saw a great surge in the number of tourists in 2022 to 13.6 million in 2023. This number met the Singapore Tourism Board’s prediction of between 12 million and 14 million visitors, as per media reports on Thursday. This is 71 percent of the number in 2019 before international travel stopped in 2020 because of the vivid 19 pandemic.
Singapore also expected the tourism sector’s recovery to occur in 2024, partly due to the implementation of 30-day visa-free travel between China and Singapore.
This increase in tourists was due to strong demand from a combination of Singapore’s main markets that was led by China 1.4 million, Malaysia 1.1 million, and Indonesia 2.3 million. Some other main markets are South Korea, The United States and Australia.
The list of countries with the most visitors to Singapore are :
- China – 1.4 million
- Indonesia – 2.3 million
- Malaysia – 1.1 million
- India – 1.1 million
- Philippines – 693,000
- South Korea – 561,000
- United States – 642,000
- Vietnam- 459,000
- United Kingdom- 459,000
India was ranked as the 5th tourism-generating market with 1.1 million visitors. Singapore tourism receipts are expected to register about 2.4 million to 26 billion Singaporean dollars for 2023. It undoubtedly increases STB’s prediction of 18 billion Singaporean dollars to 21 billion Singaporean dollars.
As per figures released by STB on Thursday,, this is about 88 to 94 percent of levels. Between January and September 2023, tourism receipts reached up to 20.1 billion Singaporean dollars, and the final figures for tourism receipts will be available in the second quarter of 2024.
According to STB, visitors spent more time in Singapore than before the pandemic, as the average length of stay noticed in 2023 was approximately 3.8 days, which is an increase compared to 3.4 days for same 2019. STB also says that it is expected that the recovery of the tourism sector will continue in 2024, driven by improved global flight connectivity along with capacity and the execution of 30-day visa-free travel amid China and Singapore.
Also, Read: In 2024, Korean tourism hopes to welcome 200,000 Indian tourists.
Last week, Singapore and China agreed to a 30-day visa-free entry for their citizens. Under this agreement, Chinese and Singaporean citizens holding ordinary passports can enter Singapore and China without a visa for up to 30 days if they travel for business, private affairs, sightseeing, or meeting friends and family.
“In 2024 international flight capacity is expected to continue to increase with capacity at or approaching pre pandemic levels for the majority of our key source markets”.
STB said
Melissa Ow, STB chief executive, said,
“To sustain our growth in 2024 and beyond, STB will focus on achieving quality tourism, cultivating strategic partnerships, investing in new and refurbished products and experiences and supporting stakeholders in building capabilities ‘.
Melissa Ow, STB chief executive, said
Also, 2019 levels were exceeded for hotels in terms of the average room rate and revenue per available room. This average room rate reached 282 Singaporean dollars, 128 percent of the rate in 2019.
Also, revenue per available room reached about 226 Singaporean dollars, 118 percent of the 2019 figure. In the same period in 2019, the average occupancy rate was 80.1 percent compared to 86.9 percent.
“Geopolitical and economic uncertainties have influenced travel sentiment and slowed down global travel recovery. However, 2023’s performance has been encouraging.”
STB said
STB added that new attractions and enhanced 2023 experiences made this country more attractive to tourists.
Benjamin Cassim, the senior lecturer at Temasek Polytechnic, noted the changes in visitor profile as Singapore’s image as an entertainment and business destination cataracts many trousers with high per capita spend, and its cost structure has gone up in about the past three years.
He added that Singapore must focus on attracting tourists who are well prepared to spend money on longer stays, i.e. at least for four nights.
“This would tie in very well with what Singapore has to offer in terms of high value-added visitor experiences“.
Benjamin Cassim
Also, Read: Bali will impose a 150,000 IDR tourist tax starting on February 14, 2024.
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