Singapore’s tourism sector showcases resilience with robust 2023 performance, exceeding projections for visitor arrivals and tourism receipts.
Singapore, 1 February 2024 – In 2023, Singapore’s tourism sector exhibited a robust recovery, surpassing forecasts and demonstrating resilience in the face of global uncertainties. International visitor arrivals (IVA) reached 13.6 million, representing approximately 71% of the 2019 IVA. Tourism receipts (TR) are estimated to reach $24.5 to $26.0 billion, accounting for approximately 88-94% of the 2019 TR, exceeding the Singapore Tourism Board’s (STB) earlier forecast of $18.0 to $21.0 billion for the year[1].
The recovery was driven by strong demand from key markets, including Indonesia (2.3 million), China (1.4 million), and Malaysia (1.1 million). Other notable markets contributing to the recovery included Australia, South Korea, and the USA. Visitor arrivals were in line with STB’s forecast range of 12.0 to 14.0 million visitors for 2023.
Tourism receipts reached $20.1 billion between January and September 2023, exceeding or closely recovering to pre-pandemic levels across all spend categories. The top TR generating markets for the first nine months of 2023 were China, Indonesia, and Australia, contributing $2.3 billion, $2.2 billion, and $1.5 billion, respectively[2].
The average length of stay in 2023 increased to approximately 3.8 days, compared to 3.4 days for the same period in 2019.
Source – Singapore Tourism Board
