On Feb. 1, the Singapore Tourism Board (STB) released its report on last year’s tourism performance, and it had several interesting nuggets.
For instance, Indonesia was Singapore’s top visitor market, with 2.3 million visitors coming from the archipelago.
Meanwhile, the top tourism receipt-generating market was China, with S$2.3 billion between January and September 2023.
Visitor numbers and tourist receipts met STB’s forecast
13.6 million international visitors arrived in Singapore in 2023, meeting the Singapore Tourism Board’s (STB) forecast of between 12 and 14 million visitors.
STB estimates that last year’s tourism receipts will hit S$24.5 billion to S$26 billion, which surpassed the agency’s forecast of S$18 billion to S$21 billion.
“Visitor arrivals were driven by strong demand from a mix of Singapore’s key markets,” said the statutory board.
Beyond the 2.3 million visitors from Indonesia, Singapore also saw a strong demand from China, with 1.4 million visitors.
Malaysia, Australia and India each had 1.1 million visitors to Singapore.
Photo via STB
Visitors staying longer, spending close to pre-pandemic levels
STB noted that last year’s visitors spent more time in Singapore than before the Covid-19 pandemic.
In 2019, the average length of stay was 3.4 days, while in 2023, it was approximately 3.8 days.
Tourist spending is also bouncing back with tourism receipts reaching S$20.1 billion between January and September 2023.
Photo via STB
The full-year tourism receipts of 2023 are expected to register between S$24.5 billion and S$26 billion.
Tourism spending across all categories has also either exceeded or recovered close to pre-pandemic levels.
The top tourism receipt-generating market was China, with S$2.3 billion.
The following two markets were Indonesia and Australia, contributing S$2.22 billion and S$1.5 billion respectively.
These tourism receipt figures exclude sightseeing, entertainment and gaming expenditures. STB said these are typically excluded in the country analysis due to commercial sensitivities.
Photo via STB
“The robust performance in 2023 signals a promising recovery for tourism, in line with increasing flight capacity and growth in international travel demand,” said Melissa Ow, chief executive of STB.
2024 tourism outlook
The tourism sector is expected to continue its recovery in 2024, driven by improved global flight connectivity and capacity and the implementation of the mutual 30-day visa-free travel between China and Singapore.
International flight capacity is expected reach or approach pre-pandemic levels this year for the majority of Singapore’s key source markets.
International visitor arrivals in 2024 are forecast to reach around 15 million to 16 million, bringing in approximately S$26 billion to S$27.5 billion in tourism receipts.
However, STB noted that geopolitical uncertainty, the state of the economy and other factors like the continued restoration of flight connectivity will have a bearing on the pace of travel recovery.
“To sustain our growth in 2024 and beyond, STB will focus on achieving quality tourism, cultivating strategic partnerships, investing in new and refreshed products and experiences, and supporting stakeholders in building capabilities,” Ow said.
Top photo via Unsplash
