The Lion City is roaring again… and it’s thanks in no small part to Aussie visitors. Singapore achieved a historic high in tourism receipts for 2024, with the Asian nation forecasting up to S$29 billion (AU$34B) for the year, which is likely to exceed the last record of S$27.7 billion ($32.6B) in receipts in 2019.
Total visitor numbers also saw impressive growth, increasing by 21% year-on-year to reach 16.5 million.
Crucially, Australia and New Zealand were significant contributors to this success story, with both countries posting record-breaking visitor arrivals, exceeding pre-pandemic levels from 2019.
Australia also ranked among the top three markets for tourism receipts in 2024, demonstrating the strong value of Aussie tourism to Singapore.
Between January and September 2024, total tourism receipts hit S$22.4 billion ($26.4B), a 10% jump compared to the same period in 2023.
Spending increased across all categories, with sightseeing, entertainment and gaming leading the charge at a 25% surge. Accommodation also saw a healthy 17% rise, while food and beverage and shopping experienced more modest growth.
Mainland China, Indonesia and Australia led the pack in tourism receipts (excluding sightseeing, entertainment and gaming), with Aussies contributing a substantial S$1.44 billion ($1.7B). Mainland China and Japan also showed remarkable year-on-year growth in tourism spending.
When it comes to total visitor arrivals, Mainland China, Indonesia and India topped the list, while Australia secured a strong fifth place with 1.17 million visitors, an 8.2% increase from 2023. Given the enormous populations of the nations above Australia, Aussie visitors indeed punched well above their weight last year. New Zealand, in 17th position, saw an equally impressive 13.9% rise, with 157,500 arrivals.
“In 2024, Singapore’s tourism sector posted a strong performance, an affirmation of the industry’s efforts in refreshing our products and experiences, as well as embarking on new collaborations this past year,” Singapore Tourism Board (STB) CEO Melissa Ow said.
“Collectively, these efforts elevated Singapore’s destination appeal and strengthened the sector’s capabilities and competitiveness.”
Air and room growth
Singapore’s robust air connectivity played a crucial role in the Asian nation’s success. Changi Airport boasted over 41 million international seats in 2024, a 15% increase compared to 2023 and a near-complete recovery to 2019 levels. For its part, Singapore Airlines recently announced increased capacity to Australia.
Meanwhile, the hotel sector also performed well, with average room rates and revenue per available room increasing. Singapore added 1,421 new hotel rooms in 2024, further expanding accommodation options for visitors.
But there were many factors that contributed to Singapore’s stellar performance last year.
According to STB, a full calendar of lifestyle events and concerts, family-friendly attractions and world-class events like the Formula 1 Singapore Grand Prix and Singapore Art Week all played a role.
Elsewhere, the country also saw growth in its cruise industry and continued to attract high-quality MICE events.
Looking ahead to 2025, STB forecasts between 17 and 18.5 million visitor arrivals, generating an estimated S$29 to S$30.5 billion in tourism receipts.
Despite potential global challenges, STB says it remains committed to driving quality tourism growth and solidifying Singapore’s position as a leading global destination.
“As we look back at 2024, as well as our achievements over the last 60 years, tourism has contributed to the economy, reinforcing our international reputation and providing more lifestyle options for visitors and residents,” Ow said.
“Together with our industry partners, STB is committed to sustaining our tourism growth, by increasing Singapore’s mind share and market share, maintaining a diversified market portfolio and strengthening destination vibrancy.
“Our Tourism 2040 roadmap will guide our efforts to drive the next phase of quality tourism growth for Singapore. This will ensure Singapore continues to thrive as a world-class destination that meets the needs of the evolving global traveller.”
