Singapore's Visitor Arrivals Jump by 115% to 13.6 Million in 2023

February 01, 2024 — The number of tourists visiting Singapore surged by 115% in 2023 compared to the previous year, marking a spectacular recovery in the industry. Total visits to Singapore were 13.6 million, which was in line with the 12 to 14 million tourists predicted by the Singapore Tourism Board (STB). This data shows a remarkable turnaround, returning to levels observed in 2019 (around 71 percent of pre-pandemic values).

Most of the tourists that came to the region were from three major markets: Indonesia, China, and Malaysia. U.S., South Korean, and Australian contributions were also substantial. The Singapore Tourism Board (STB) had predicted that Singapore’s tourist revenue would reach S$18–21 billion in 2023, but new estimates put the figure closer to S$24.5–26 billion. This revenue represents a recovery from levels observed in 2019 to the tune of 88% to 94%. In the second quarter of 2024, the authorities will unveil the final data for the year’s tourism receipts.

According to STB, all types of tourist expenditure from January to September 2023 were higher than or on par with 2019 levels before the pandemic. With a combined total of S$5.8 billion (not including earnings from attractions, shows, and casinos), the top three countries contributing to tourist receipts were China, Indonesia, and Australia.

Additionally, compared to times before the epidemic, tourists in 2023 remained in Singapore for an average of 3.8 days, up from 3.4 days the previous year. The strong rebound and resilience of Singapore’s tourist business were cited by STB as the reasons for this development.
In terms of 2024, STB is predicting that the tourist industry will keep growing.

Looking ahead to 2024, STB anticipates continued growth in the tourism sector. Improved global flight connectivity and capacity, as well as the recent implementation of the mutual 30-day visa-free travel agreement between China and Singapore, drive this optimism. Experts expect the agreement, starting on February 9, to further boost inbound travel.

For the year 2024, STB predicts that the number of foreign visitors will reach 15 to 16 million and that the total revenue from tourism will be between $26.0 billion and $27.5 billion. Variables such as geopolitical unpredictability, the state of the world economy, and the continuous restoration of aircraft connections may affect the rate of travel recovery.

Quality tourism, strategic alliances, innovative and renewed experiences, and assisting stakeholders in strengthening capacities are STB’s strategies to continue growth. Melissa Ow, CEO of STB, stressed the significance of these measures for the sustained development of Singapore’s tourist sector.

The country’s Meetings, Incentives, Conventions, and Exhibitions (MICE) industry achieved a notable milestone in 2023 with the successful hosting of several big corporate events in Singapore for the first time. The leisure events industry also saw the arrival of new attractions, such as ART SG, the biggest art expo in Southeast Asia.

Both average room rates and revenue per available room were higher than in 2019, indicating strong success from the hotel business. More than 340 ships carried a record-breaking 2 million passengers, propelling the cruise sector to new heights. The upcoming 2025 agreement between STB and Disney Cruise Line is a major step in establishing Singapore as a world-class cruise port. The tourism industry in Singapore showed incredible resilience and flexibility in 2023, which bodes well for the future.