SINGAPORE – Tourism in Singapore is on course to hit a historic high in 2024, with spending projected to exceed the pre-pandemic record of $27.7 billion from 2019, according to the Singapore Tourism Board (STB) on Feb 4.
Tourism revenue for the year is anticipated to reach the upper range of STB’s forecast of $27.5 billion to $29 billion, having already recorded $22.4 billion from January to September 2024—a 10% increase compared to the same period in 2023. The full-year figures will be available in the second quarter of 2025.
Visitor Arrivals on the Rise
International arrivals continued their steady growth, reaching 16.5 million in 2024—a 21% increase from 2023. While still below the pre-pandemic peak of 19.1 million in 2019, the recovery remains strong.
The top three markets contributing to this surge were:
- China – 3.08 million visitors
- Indonesia – 2.49 million visitors
- India – 1.2 million visitors
Additionally, visitor numbers from Japan, Taiwan, the UK, and the US saw robust year-on-year growth. STB credited the increase to key factors such as the implementation of a 30-day mutual visa exemption between Singapore and China in February 2024 and enhanced global air connectivity.
Air Travel and Tourism Spending at Record Levels
Changi Airport reported a near-complete recovery, handling 67.7 million passengers in 2024—99.1% of pre-pandemic levels.
Tourist spending grew across all key categories:
- Sightseeing, entertainment, and gaming – up 25%
- Accommodation – up 17%
- Food & beverage – up 6%
- Shopping – up 5%
Other sectors, including business travel and airfares, also contributed significantly to the overall tourism revenue.
Entertainment, Attractions, and Major Events Boost Tourism
Singapore’s vibrant lineup of events and entertainment was a major driver of tourism growth. Mega concerts by Coldplay, Ed Sheeran, and Taylor Swift not only boosted the economy but also enhanced Singapore’s reputation as a global entertainment hub.
Key attractions and events that drew significant visitor traffic included:
- Disney & Pixar topiaries at Gardens by the Bay
- Sensoryscape at Sentosa
- Studio Ghibli exhibition at Marina Bay Sands’ ArtScience Museum
- Formula 1 Singapore Grand Prix 2024
- Singapore Art Week
“2024 has been a landmark year for global entertainment in Singapore,” STB stated, emphasizing its continued efforts to attract a diverse array of events spanning lifestyle, arts, and sports. With record-breaking tourism revenue, strong visitor numbers, and a thriving entertainment scene, Singapore’s tourism sector is poised for sustained success in the years ahead.