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Singapore Tourism Statistics of 2021-2023

Singapore, an island country in Southeast Asia, is known to be one of the world’s biggest business centers. From oil refineries to technology, they have it all. But one of the main sources of the country’s economy relies on, you guessed it, tourism.

Although a small country of just 734.3 square kilometers, the country boasts culture, natural resources, scenic beauty, and a full-length beach. Every year, millions of tourists flock to the country to enjoy their holidays and sights.

Unlike other countries, Singapore is one of the most advanced countries in the world, offering futuristic cityscapes, a modern transport system, and an advanced medical sector. While other countries have Michelin-star restaurants, the country also dawns the same, as well as Michelin star hawker centers.

Still, the tourism sector took a big hit during the COVID-19 pandemic and saw a dramatic decline in the sector. But from 2021, it started to see a gradual increase in the number of tourists. Today, we will look at the Singapore tourism statistics for 2021- 2023 and see how the numbers are gradually rising, what aspects are attracting the tourists, and how the Singapore Tourism Board (STB) is developing and offering them. This also includes the accommodation, food, and other statistics.

So, without doing all the chitchat here, let’s start with the statistics.

Singapore’s Tourism Statistics for the Year 2021-2023

After the pandemic, Singapore has slowly recovered its tourism sector. If you look at the statistics of 2021 and compare them with the recent 2023, you will see a gradual increase. This is due to a lot of factors, including the removal of travel restrictions, the gradual opening of the borders, and more opportunities for tourists.

Singapore tourism statistics

To understand more, we have to first look at the arrival statistics of the tourists.

Arrival Statistics: Visitor Numbers and Demographics

The number of visitors arriving indicates the slow rise of tourists in Singapore. The table below shows the number of tourists that arrived in Singapore from 2021 to 2023. The maximum number of tourists are from neighboring Indonesia and Malaysia, as these countries share borders with Singapore.

Tourist Arrival Statistics

Image 1: Singapore Tourism Statistics for the year 2021-2023

At the same time, India, Australia, China, the Philippines, and the USA are on the top 10 list of tourists visiting the country.

This indicates that not only are neighboring countries the main tourists coming to Singapore, but other countries that used to frequent are also coming back.

Content 2023 2022 2021
Total Visitors 1,239,777 931,441 92,796

Table 1: Number of visitors arriving in Singapore from 2021 to 2023

The number of people arriving in Singapore in 2021 may seem too small compared to its former state, but in recent years (2023), it has risen to a million. This is a huge rise from its earlier state of less than a million speaks volumes.

There is also the matter of how many days the tourists are staying. Not all of them have the same intention of travel. Business, holidaymakers, overnight visitors, and transit passengers are also on the list. We need to look into that aspect, too.

Travel Patterns: Average Length of Stay, Overnight Visitors, Transit passengers, and Repeat Visitation

Travel patterns also talk about the tourists visiting Singapore. The longer they stay, the more revenue the country makes. There are short-stayers, such as business travelers, investors, and overnight visitors, who don’t stay longer but spend more.

Time (Days) 2023 2022 2021
Total International Visitor Arrivals (Number) 1,122,036 816,447 22,535
Under 1 Day (Number) 272,558 166,759 371
1 Day (Number) 185,778 114,672 543
2 Days (Number) 161,902 118,228 1,232
3 Days (Number) 168,696 129,733 1,641
4 Days (Number) 117,879 92,181 1,956
5 Days (Number) 64,742 54,820 1,784
6 Days (Number) 38,488 34,062 1,617
7 Days (Number) 25,072 23,623 1,551

Table 1: Number of overnight visitors, transit passengers, and short holidaymakers

The short duration (under 1 to 3 days) accounts for a bulk number of passengers who may or may not be tourists but transit passengers, business travelers, and investors. This does not mean that none of the mentioned categories of travelers stay longer, but an estimated assumption.

Holidaymakers and leisure travelers tend to stay over that timeline. The time goes from 5 to 7 days. This number is also easier to find as different travel packages include this time frame.

Time (Days) 2023 Dec 2022 Dec 2021 Dec
Total International Visitor Arrivals (Number) 1,122,036 816,447 22,535
8-10 Days (Number) 31,440 30,056 2,933
11-14 Days (Number) 19,369 18,087 2,751
15 Days & Over (Number) 36,112 34,226 6,156
15-29 Days (Number) 25,794 22,917 4,210
30-59 Days (Number) 7,188 7,458 1,173
60 Days & Over (Number) 3,130 3,851 773

Table 2: Number of international visitors staying longer than seven days

Travelers exceeding that timeframe go into the other categories, which include those who are on vacation, spending time with families and relatives, visiting for medical purposes, and most probably needing longer time to stay for reasons in general.

To delve even deeper, we need to see the accommodation details. This will give us an idea about the tourists who are spending in Singapore, hence bringing in revenue.

Singapore tourism statistics

Accommodation Statistics: Hotel Occupancy Rates and Trends

Accommodation is a key source of revenue for the Singapore tourism industry. This includes stays in not only hotels but also resorts, hostels, and other forms of accommodation.

During peak tourist seasons, room rates tend to go up. Other times, the rates stay minimal. But the occupancy decides how the businesses are making.

Content 2023 2022 2021
Number Of Gazetted Hotels (At End Year) 253 247 266
Standard Average Occupancy Rate (%) 80.1 75.3 56.9
Available Room-Nights (Number) 21,407,805 17,149,420 10,568,316
Standard Average Room Rate (Dollar) $280 $250.6 $160.5
Hotel Room Revenue (Thousand Dollars) 4,810,263.9 3,243,968.6 966,248.6

Table 3: Accommodation details in Singapore throughout 2021, 2022 and 2023​

Although this is a slow rise, there are also some anomalies. At the start of 2024, Singapore had a huge number of tourists. While the country’s hotels see fewer tourists from October to January, the room prices also decrease.

During the January of 2024, there was a huge rush of tourists. Singapore Art Week, Thaipusam Festival, Pongal Festival, Light to Night Singapore, Artbox, Singapore International Festival of Arts, and the Chinese New Year were the reasons behind it.

So, although room prices were low, the revenue was higher than usual.

Feature January 2024 December 2023 Change (%)
Average Room Rate (ARR) SG $278.75 SG $282.60 -1.4
Total Revenue (Room) SG $423.2 million SG $404.4 million +4.6
Revenue per Available Room (RevPAR) SG $217.76 SG $209.53 +3.9
Occupancy Rate 78.1% 74.1% +4.0

Table 4: Hotel room price difference between January 2024 and December 2023 in Singapore

Another key factor in better tourism is collaboration and alliances. Singapore has started that in a more effective manner to gain tourists than before. This number also adds up to the rising statistics.

Tourism Partnerships: Collaborations and Alliances

One of the latest forms of business strategy is collaboration and alliance between countries and different organizations. This includes Singapore’s tourism board collaboration with other countries’ tourism boards, as well as hotels, airlines, private organizations, tourism services, and entertainment management providers.

Recently, Singapore has collaborated with these countries and organizations. These are not just a one-time collaboration but an ongoing process that renews every year.

Partner Type Partner Signing Year Area of Interest Desired Outcome
National Tourism Organizations (NTOs) China National Tourism Administration (CNTA), Japan National Tourism Organization (JNTO), Indonesia Tourism Board (ITB) 2024 Marketing & Familiarization Trips Fosters cultural exchange & attracts tourists from specific regions
Visa Agreements India, Thailand, Philippines 2024 Travel Process Simplification Makes Singapore more accessible to travelers from specific countries
Singapore Hotel Association (SHA) Partners with various hotels under the SHA umbrella 2023 Sustainable Practices & Marketing Promotes sustainable practices & targets specific tourist segments
New Airline Routes Singapore Airlines, Emirates, Qatar Airways Ongoing Collaboration Increased Flight Connectivity Makes Singapore more accessible to new markets
Joint Marketing Campaigns Thai Airways, Cathay Pacific 2024 Air-inclusive Vacation Packages Targets tourists from specific regions through co-branded campaigns
Integrated Resorts Marina Bay Sands, Resorts World Sentosa 2024 Large-Scale Events & Attractions Positions Singapore as a world-class entertainment destination
Arts & Cultural Events Singapore International Festival of Arts (SIFA), Singapore Biennale Renewed every year Event Promotion & Tourist Attraction Attracts tourists with specific interests in arts & culture
Digital Marketing & Content Trip.com Group Renewed each year Tourism Marketing Leverages AI and content marketing to target specific demographics and promote lesser-known experiences
Destination Marketing Klook Recent Collaboration Tourism Marketing Collaboration on marketing, experience development, and data sharing to attract younger travelers from Southeast Asia
Travel Process / Regional Tourism Traveloka 2023 Travel & Tourism Facilitation Strengthens ties with Indonesia, a key source market, by streamlining the travel process and promoting regional tourism growth
MICE Development & Global Hub Positioning IEG (Exhibition Organizer) 2023 Business Tourism Establishes IEG's first Southeast Asian headquarters in Singapore, solidifying Singapore's position as a MICE destination

Table 5: Information on Singapore STB and government collaboration with other countries and organizations

This is an ongoing collaboration list that the STB keeps updating frequently. It indicates how Singapore is dedicated to lifting its tourism sector from all aspects, both in the domestic and international markets.

The main concern relies on how much the tourism sector is making from all of this. We are going to talk about that in the next section.

Tourism Revenue: Spending Patterns of Tourists and Economic Impact

Singapore calculates its tourism revenue quarterly. It not only consists of tourist accommodation but also other behaviors like shopping, food, attractions, transport, and other forms of entertainment.

Contents 2023 3Q 2022 4Q 2021 4Q
Tourism Receipts 20,132 14,178 1,894
Accommodation 3,309 2,963 580
Food & Beverage 3,007 1,282 192
Shopping 3,715 2,784 174
Sightseeing, Entertainment & Gaming 3,691 2,337 223
Other Components 6,410 4,812 723

Table 6: Singapore tourism revenue from the year 2021 to 2023

There are also other components that add up to the tourism statistics. External factors play an important role in providing insight into the tourism industry and how it is performing.

​Impact of External Factors

There are several external factors that have influenced Singapore’s tourism industry. The COVID-19 pandemic, being the lead contributor, has greatly put a strain on both the economy and industry.

During the pandemic, Singapore saw the lowest number of tourists in the country. With travel restrictions in place, the number also went down significantly. With cautions like vaccination cards to resist and fight the pandemic, tourists didn’t have access to the country for a while.

This caused a huge downfall in tourism. The number of tourists went down by 76% in 2020, and the number of receipts went down by 39%.

Singapore tourism statistics

Image 2: Singapore tourism industries decline during the pandemic

But by 2021, the numbers gradually rose to 92,796, and at the end of 2023, it stood at 1,239,777 (Table 1). As the country allowed more vaccinated tourists to enter Singapore in April of 2022, the number started to reflect later on.

With the introduction of new visa-free countries, the tourism industry is expected to come back to its former glory.

As of now, only 34 countries in the world need to have a visa prior to entry into Singapore. The country is also working with the listed countries to minimize their travel restrictions and simplify visa access.

Visa required countries list:

There is also the fact that the trends in tourism are changing. With ever-changing tourist mindsets, regular tourist destinations are seeing fewer visits. We need to address those facts next.

Attractions and Activities: Popular Destinations and Trends among Tourists

Tourists have always been attracted to the most traditional destination Singapore has to offer. Marina by the Bay, Sentosa Island, Chinatown, Little India, and Orchard Road have always been bustling with tourists.

As a lot of tourists visit these places, the STB has enhanced and introduced new attractions to these places. These include a Children’s Museum, Avatar: The Experience at Gardens by the Bay, Sentosa’s Night Luge, Scentopia, Wings of Time, and Central Beach Bazaar.

There is also a new gallery at the ArtScience Museum’s Future World called ‘Exploring New Frontiers,’ a Minion’s Perspective Experience at Resorts World Sentosa for people of all ages, Mr. Bucket Chocolaterie at Dempsey, and the Singapore Night Safari’s new amphitheater and a full revamped Creatures of the Night show.

The STB incorporates activities that once used to be self-developed by the tour operators. This gives tourism a newer perspective and more room to grow. Letters from Blakang Mati by Woopa Travel, Seadog Kayak Sailing Tour by Kayak Fishing Fever, and Hawker Fares Little India Street Food Tour are some of the mention-worthy collaborations.

Singapore tourism statistics

In recent years, there has been a shift in the tourist’s mindset. While 50% of the tourists take on the more familiar tourist grounds, the other half seek something more unique and personalized in nature.

This includes going on self-researched paths and off-the-charts local destinations. This gives the tourists a more authentic experience of the country. It also gives them a more immersive cultural experience, as well as a deeper connection with the local community and heritage.

Sustainable development is also one of the rising trends all over the world. Singapore, being one of the most developed countries in Southeast Asia, has transcended to more eco-friendly transport, accommodation, and tourism practices. These practices have come to life recently in 2022 and still are being adopted throughout the country.

As tourists demand and are more concerned about the environment and climate change, the country is catering likewise. More hotels are going green, with carbon-neutral transportation systems in line and more coming in the way. More cycling paths are being introduced, and electric cars are roaming the streets.

With their Singapore Green Plan 2030, the country aims to go more sustainable in urban destinations. An industry-specific roadmap is under development for hotels and the MICE ecosystem. Also, the Tourism Sustainability Programme has been launched to support different businesses in adapting to a more sustainable journey.

Another worldwide trend is taking care of your physical and mental well-being. Singapore hosts a lot of festivals and events every year. As the pandemic has brought out a harsh reality of the well-being of people, the Singapore Tourism Board started to organize the Wellness Festival in Singapore in 2022. This is a direct partnership with the wellness platform ClassPass. It created 90 new wellness centers across 167 different locations in the country.

But how do tourists feel about all that? The feedback from them also gives an insight into the whole tourism industry. This needs a bit of looking into next.

Visitor Satisfaction and Feedback: Insights from Tourists

Visitor satisfaction is a crucial element for any business. When it is about tourism it directly affects the economy of the country.

Tourists visiting Singapore have mixed feedback about their experience. But most of them were above the satisfactory level.

9 out of 10 reviewers called Singapore the ‘Safest and Cleanest’ city. Some also mentioned that there is an absence of litter and the ease of travel due to this.

Singapore is known for its MRT (Mass Rapid Transit) system. Reviewers found the transport system impressive. Other methods of travel, like ride-hailing and taxi cabs, were also available on the tourist’s side. Some also mentioned that the taxi cabs were very cheap.

Tourists in Singapore

While talking about the range of attractions and activities, visitors found it to be diverse and immersive. Iconic landmarks like the Raffles Hotel and Boat Quay, Sentosa Island, and cable car rides were mentioned numerous times.

As a country with five different cultures and ethnicities, tourists enjoyed their experiences in Little India and Chinatown. Food stalls, handicrafts, and traditional art and culture were their favorite experiences. They emphasized how rich Singapore’s cultural scene is.

Getting the comforts and amenities of a first-world country in a Southeast Asian country amazed a lot of travelers. Top-notch medical facilities, clean water, and different types of accommodations (modern and eco-friendly) to choose from, gave the travelers a luxurious experience. Some even felt at home even though they were in a different country.

Families coming for a vacation found the country most suitable for any age. The Singapore Zoo, Sentosa Islands activities, and interactive museum experiences were their highlights of Singapore.

Lastly, shopping was a major highlight for a lot of tourists. As there are abundant shopping malls, brands, and diverse options to choose from, most tourists find the country for every range of shoppers.

Culinary delights and wellness trips were popular among trendy tourists. They were delighted with the eco-friendly approach and how the country is largely invested in mental wellness as a whole.

All of the reviews are mentioned in different travel publications, as well as on social media like Facebook and Instagram.

With all of these reviews coming on a positive note, the STB has come up with a lot of tourism activities, as well as to market their industry. This should be a noteworthy to mention.

Infrastructure Development and Tourism: What the STB Has Done So Far

After opening its door to tourism in 2021, Singapore has taken a lot of development in its infrastructure and tourism. This includes partnerships with different tour management organizations, celebrities, international brands, and franchises.

As for the infrastructure, Singapore launched a ‘Made in Singapore’ campaign all over the world. In this campaign, they have incorporated artificially generated images of different touristy places in Singapore to ask people if they can recognize them.

The ongoing campaign will include a world tour, along with billboards and 3D experiences that people can take part in.

At the same time, Singapore is celebrating its 50 years of tourism and its development. The three-phase celebration encourages locals and tourists to take place in rediscovering the country, take part in collectibles, and win prizes.

Starting with just 91,000 visitors back in 1964, when the country first started, the country welcomed 15 million tourists. This huge number of tourists require accommodation, food, and places to explore and commemorate their journey.

In response to this, Singapore has undertaken development initiatives that are ongoing on the following list:

New Hotel Establishment and Renovation
New Attractions
Luxury Bath Experience, Spa and Wellness Centers
Sustainable Tour

There are also other oncoming developments that are planned. These include a hotel being established on Orange Grove Road, a villa, and the starting of the Grand Prix Formula F1 races.

Upcoming Developments

With these developments in place, along with the Singapore Green Plan 2030, the country is hoping to attract more tourists than in previous years.

The analysis of tourists will give us information about how it is doing from the time they started after the pandemic.

Analysis of Tourists

Singapore sees different types of tourists every year. The differences are not only between different countries but also between different age groups, genders, purpose of visits, and stay duration.

Analysis of Tourists in Singapore

Looking at these categories, we can get an understanding of the tourist behavior, patterns, and other aspects that shape the tourism industry in Singapore.

Age and Gender Distribution of Tourists

Age and gender have always been issues in the tourist industry. While male tourists dominate the whole world, it is a bit different in Singapore.

Content 2023 Dec 2022 Dec 2021 Dec
Total 1,239,777 931,337 92,796
Males 602,555 457,823 54,718
Females 637,172 473,507 38,070
Under 15 Years 148,032 123,734 5,973
15-19 Years 56,081 43,167 2,646
20-24 Years 77,502 65,231 10,489
25-34 Years 245,954 200,412 30,989
35-44 Years 243,613 187,200 19,988
45-54 Years 188,785 136,410 8,336
55-64 Years 153,341 99,949 7,151
65 & Over 126,469 75,234 7,224
Not Stated 0 0 0

Table 7: Tourist analysis depending on their age and gender

The first thing to notice about the tourist numbers is the gender. Although the number of female tourists was low in 2021, it gradually overtook the male visitors by a wide number.

Furthermore, age difference is a crucial factor to be aware of. The number of tourists flocking to Singapore is 25 to 54, which makes the country an all-around entertainment hub.

Tourists' ​​Purpose of Visit

The purpose of visit in Singapore is mostly tourism. That being the key factor, tourists also come to the country for shopping, family visits, business trips, and sometimes medical reasons.

If we look at the top countries that have visited Singapore in the past three years, the purpose of the visit can be defined as follows:

Country / Region Purpose of Visit
Indonesia Tourism, shopping, family vacations
India Leisure, family vacations, weddings, medical purposes, business trips
Malaysia Visiting friends and family, shopping, tourism
Australia Leisure, tourism, shopping, long stopover, culinary experiences
Philippines Tourism, visiting friends and family, fly-cruise packages
China Leisure, shopping, sightseeing, traditional holiday visits, business trips
United States Tourism, business trips, stopovers/transit
Europe Leisure, tourism, cultural exploration, shopping
Russia Tourism, holidays, shopping, cultural exploration

Table 8: Tourists purpose for a visit over the last three years

Breakdown of Tourist Arrivals by Region/Country

Tourists in Singapore can be categorized into their region and country. It is understandable that southeast asian tourists will dominate in numbers, but Chinese, European, and American regions don’t fall far behind.

Region/ Country 2023 Dec 2022 Dec 2021 Dec
Southeast Asia 495,745 438,856 30,006
Brunei Darussalam 9,281 7,324 231
Indonesia 244,343 197,261 11,177
Malaysia 102,689 95,475 10,939
Myanmar 13,146 10,523 2,991
Philippines 62,901 56,509 1,966
Thailand 30,001 36,006 1,421
Vietnam 24,681 27,661 840
Other Markets In Southeast Asia 8,703 8,097 441
Greater China 176,953 60,836 5,963
China 130,207 19,685 4,764
Hong Kong SAR 26,440 26,605 754
Taiwan 17,413 12,603 392
Other Markets In Greater China 2,893 1,943 53
North Asia 71,457 52,077 2,770
Japan 32,132 20,209 580
South Korea 39,202 31,817 2,187
Other Markets In North Asia 123 51 3
South Asia 114,979 91,730 33,939
Bangladesh 11,743 9,857 5,559
India 92,635 74,067 27,672
Pakistan 1,629 1,623 59
Sri Lanka 5,975 4,270 587
Other Markets In South Asia 2,997 1,913 62
West Asia 12,732 10,007 361
Iran 427 126 11
Israel 693 916 99
Kuwait 512 476 1
Saudi Arabia 1,569 689 46
United Arab Emirates 7,156 6,135 141
Other Markets In West Asia 2,375 1,665 63
Americas 84,895 67,342 4,590
Canada 11,270 9,047 743
USA 66,745 53,688 3,720
Other Markets In the Americas 6,880 4,607 127
Europe 145,069 102,982 9,450
Belgium & Luxembourg 1,969 1,458 68
Denmark 2,046 1,769 244
Finland 1,957 1,391 157
France 10,021 8,554 1,195
Germany 31,173 20,499 1,594
Italy 4,253 2,777 319
Netherlands 6,890 5,634 717
Norway 1,735 1,610 56
Rep Of Ireland 1,616 1,359 53
Russian Federation 5,550 3,503 42
Spain 3,589 2,604 213
Sweden 2,851 2,510 211
Switzerland 6,817 4,468 515
United Kingdom 46,380 33,051 3,668
Other Markets In Europe 18,222 11,795 398
Oceania 129,003 101,182 5,632
Australia 112,310 89,159 5,525
New Zealand 12,730 9,139 63
Other Markets In Oceania 3,963 2,884 44
Africa 8,910 6,334 74
Egypt 188 220 14
Mauritius 977 643 9
South Africa (Rep Of) 4,245 3,371 12
Other Markets In Africa 3,500 2,100 39
Others 34 95 11

Table 9: Tourist arrivals by region/country

Looking at the number of visits by region, the southeast countries do dominate. China, Europe, and other American countries are closer to that range of tourists.

In recent years, Oceanic countries like Australia have been among the top tourists visiting Singapore. India would be the latest addition to the list among South Asian countries. This is due to the two countries’ agreement on visa policies and business deals.

To get a thorough outlook on the Singapore tourism industry, we have to compare the results we have found side by side next.

Data Comparison of 2023 with Previous Years

Comparing the data of 2023 with the previous two years (2022 and 2023), we can get the actual number of growth or decline in the tourism industry. This will also give us insight into how there is a change of patterns in the tourism industry and its tourists.

Changes in Tourism Patterns Compared to Previous Years

As Singapore opened its doors after April of 2022, the number of visits started to rise from that year. Before that, you can see the tourism receipts, accommodation, and other parameters are on the declining side.

Content 2023 Dec 2022 Dec 2021 Dec
Number of Tourists 1,239,777 931,337 92,796

Table 11: Tourism revenue comparison of 2021, 2022, and 2023

Recovery Trends Post-pandemic

After the pandemic recovery, Singapore has introduced new strategies to promote the tourism industry. This includes establishing new museums, hotels, attractions, and sustainable tourism options.

Destination / Types of Entertainment Attractions and Enhancements
Marina Bay Children's Museum, Avatar: The Experience at Gardens by the Bay
Sentosa Island Sentosa’s Night Luge, Scentopia, Wings of Time, Central Beach Bazaar, Minion’s Perspective Experience at Resorts World Sentosa
Chinatown Hawker Fares Little India Street Food Tour
Little India Hawker Fares Little India Street Food Tour
Orchard Road Mr. Bucket Chocolaterie at Dempsey
ArtScience Museum A new gallery called ‘Exploring New Frontiers.
Resorts World Sentosa Minion’s Perspective Experience
Singapore Night Safari A new amphitheater and a fully revamped Creatures of the Night show
Various Locations Letters from Blakang Mati by Woopa Travel, Seadog Kayak Sailing Tour by Kayak Fishing Fever
Sustainable Practices Eco-friendly transport, accommodation, and tourism practices; Singapore Green Plan 2030; Industry-specific roadmap for hotels and the MICE ecosystem; Tourism Sustainability Programme
Wellness Wellness Festival in Singapore (2022) organized by the Singapore Tourism Board in partnership with ClassPass; Creation of 90 new wellness centers across 167 locations.

Table 12: New attractions and trends introduced by STB

There are some key factors that are influencing the trend in the country’s tourism. These factors are important if we are going to talk about the development of tourism and the challenges Singapore faces.

Key Factors Influencing Tourism Trends

In recent years, there has been some change in the tourism industry. Singapore is also facing the same changes. If we look at the economic and political factors of the country, we can gain some insight into it.

At the same time, technological advancements play a significant role in the tourism economy.

Economic Factors

The first and foremost factor that influences the Singapore tourism industry is the economy. With the economic decline and unrest all over the world, global situations and pandemics have created a dent in all sectors.

Luckily, Singapore has a strong economic background and stability. Being the hub of business in southeast Asia, the country turned back from the set down in 2019-2020.

The country thrives in oil refineries, technological advancements and development, scientific research, and medical fields. With these things on the run, the economic background for the development of the country is always on the move.

With the STB continuously making collaborations with different multinational organizations and countries, the tourism industry is thriving.

Content 2023 3Q 2022 4Q 2021 4Q
Tourism Receipts 20,132 14,178 1,894

Table 13: Tourism receipts for the last three years

4Q22 2022 1Q23 2Q23 3Q23 4Q23 2023
Total 2.4 3.8 0.5 0.5 1.0 2.2 1.1
Goods Producing Industries -1.3 2.9 -3.8 -6.1 -3.5 1.9 -2.9
Manufacturing -2.6 2.7 -5.4 -8.2 -4.9 1.4 -4.3
Construction 6.6 4.6 5.8 6.4 3.7 5.2 5.2
Services Producing Industries 4.7 5.1 2.0 2.9 2.3 2.0 2.3
Wholesale Trade 3.8 4.0 0.1 2.1 1.1 0.2 0.8
Retail Trade 4.5 8.5 1.7 1.6 2.3 -0.3 1.3
Transportation & Storage 3.9 4.9 0.1 5.4 0.9 2.8 2.3
Accommodation 12.4 2.2 22.5 15.1 12.6 1.5 12.1
Food & Beverage Services 13.0 15.4 10.9 4.9 2.9 -1.5 4.1
Information & Communications 7.7 8.1 7.0 5.3 6.0 4.7 5.7
Finance & Insurance -1.2 0.2 -1.5 -1.2 2.5 5.4 1.3
Real Estate 10.5 10.9 6.9 9.6 3.6 0.1 4.9
Professional Services 13.3 13.2 3.7 0.4 1.4 -0.7 1.1
Administrative & Support Services 9.4 7.8 5.2 3.4 1.4 -1.7 2.0
Other Services Industries 4.6 4.3 5.6 4.2 3.9 3.9 4.4
Seasonally Adjusted Quarter-on-Quarter Growth %
Total 0.0 3.8 -0.5 0.4 1.0 1.2 1.1
Goods Producing Industries -0.5 2.9 -2.7 -1.0 1.1 4.1 -2.9
Manufacturing -1.0 2.7 -3.0 -1.3 0.8 4.5 -4.3
Construction -0.1 4.6 -1.2 2.6 1.9 2.0 5.2
Services Producing Industries 0.4 5.1 0.1 0.9 0.8 0.3 2.3
Wholesale Trade 0.2 4.0 -0.2 0.5 0.5 -0.6 0.8
Retail Trade 0.3 8.5 0.1 1.5 0.3 -1.9 1.3
Transportation & Storage -0.6 4.9 -1.1 3.8 -1.1 1.1 2.3
Accommodation 7.1 2.2 -2.6 5.2 2.3 -3.1 12.1
Food & Beverage Services 3.0 15.4 0.2 0.6 -0.8 -1.5 4.1
Information & Communications 2.4 8.1 -1.7 0.4 4.8 1.1 5.7
Finance & Insurance 1.2 0.2 -1.0 1.1 1.2 4.1 1.3
Real Estate 2.5 10.9 -0.1 2.9 -1.6 -0.9 4.9
Professional Services 3.8 13.2 -4.1 -0.1 2.2 1.3 1.1
Administrative & Support Services 2.6 7.8 -0.2 -0.6 -0.3 -0.7 2.0
Other Services Industries 0.3 4.3 1.5 0.6 1.3 0.4 4.4

Table 14: Singapore Sectorial Growth Forecast 2024

The tourism revenue for the last three years indicates a huge rise in the sector. More tourists are visiting the country, while the tourism board is strategically marketing their attractions.

Also, the STB is introducing new ventures to the cruise industry by signing deals and making Singapore the port for their destination.

Economic Factors

Another key factor that plays an important role in the tourism industry is Singapore’s political stability. The country is ranked 6th among the safest countries in 2023. This is a significant plus point for Singapore in attracting tourists.

This situation is a development due to the country’s democratic ties with 189 UN countries, as well as ASEAN and Schengen countries.

Economic Factors of Singapore

Image 3: Political transformation index of Singapore (BTI index)

Tourists can roam around safely without worry, which attracts more tourists. Also, the fact that almost 159 countries can visit Singapore without a visa adds up to the most anticipated destination by tourists.

With more countries getting a faster Singapore eVisa application option, it is highly likely that the tourism sector is going to get a boost further.

​Technological Advancements

One of the key developments that Singapore is continuously evolving in is the technological sector. This allowed the country to have a top-notch security system, interconnected and efficient transportation and encouraged investment in the sector.

Content 2021 2022 2023
Total Local Production 9,291 6,812 5,609
Total Exports 32,301 21,862 20,439
Total Imports 27,786 20,292 18,664
Imports from the US 1,326 1,443 1,222
Total Market Size 4,876 5,244 3,834
Exchange Rates 1.35 1.38 1.33

Table 15: Singapore Technology Market Size (million USD)

Their smart city infrastructure uses sensors to collect data and optimize traffic, keeping the city free of any unwanted traffic jams. Sustainable urban development, less carbon emission, and waste management have put the small city at the top of tourists’ bucket lists.

The country has ongoing development in its 5G technology for faster data transfer speeds. This adds to the facilitation of innovation, communication, and IoT.

Furthermore, investment with tax-free options in the technology sector welcomes more and more investors to the country. The fintech industry is flourishing ever more than before.

Growth or Decline in Specific Tourism Sectors

With a fresh start, Singapore has introduced a lot of attractions, offers, and sightseeing tours for tourists. The growth in the industry is evident from the information that is provided by the country’s tourism boards

Contents 2023 3Q 2022 4Q 2021 4Q
Tourism Receipts 20,132 14,178 1,894
Accommodation 3,309 2,963 580
Food & Beverage 3,007 1,282 192
Shopping 3,715 2,784 174
Sightseeing, Entertainment 3,691 2,337 223
Other Components 6,410 4,812 723

Table 16: Growth in different sectors of the Singapore Tourism Industry

Content Percentage / Revenue / Information
International Visitor Arrivals (IVA) Increase 221%
Tourism Receipts (TR) Increase 92%
International Visitors 1,239,777
Top 3 Visitor Source Markets China, India, Indonesia, Australia, USA
Tourism Receipts (TR) $1.2 billion
TR Contributors China ($432M), Indonesia ($127M), India ($58M)
Domestic Tourism Stimulus Impact 1.9M Singaporeans used SRV
SRV Transactions Recorded $300 million

Table 17: Tourism performance from 2021-2023

Not only tourism as in travel, but other sectors like the accommodation sector have also seen growth in this past year.

Content Percentage / Revenue / Informations
Average Occupancy Rate (AOR) 56.2%
Average Room Rate $158
Revenue per Available Room (RevPAR) $89
New Hotels Opened The Clan, Maxwell Reserve, Oasia Resort Sentosa
Unique Staycation Experiences AR hotel art tour at The Ritz-Carlton, Millenia Singapore
Partnership Impact Mastercard's "Rediscover Priceless® Singapore" campaign, STB's partnership with DBS

Table 18: Accommodation Performance 2021-2023

There are also different MICE events and projects taking place. With the aim to attract new tourists, Singapore has introduced a variety of new entertainment options, accommodations, and experiences.

Content Percentage / Numbers / Project Name
MICE Events Hosted 200+
Attendees 50,000+
Notable Events Bloomberg New Economy Forum, 50th St Gallen Symposium
Planned Events FIND – Design Fair Asia (2022–2024), Gastech 2023, etc.

Table 19: MICE and Events Industry Performance 2021-2023

Content Names & Location
Introduction of New Experiences/Attractions Museum of Ice Cream, SkyHelix Sentosa
Refreshed Offerings Haw Par Villa’s Hell’s Museum, Brickosaurs World at Singapore Zoo
Future Attractions Planned Jewel-rassic Quest, Shiseido Forest Valley

Table 20: List of new attractions, ongoing renovation, and future openings

Singapore has also been working with different countries to make travel options easier. As we have said earlier, only a handful of countries require a visa to enter Singapore. Most of them can apply for a Singapore Visa Online with a few clicks.

Shifts in Preferred Accommodations, Prices Going Up and Down

Singapore is a luxurious country, and the prices for accommodations are also on the higher side. This is true, especially during the winter months of December to February.

Average room rates in Singapore from 2021 - 2023

Image 4: Average room rates in Singapore from 2021 – 2023

As with the latest trends, people are becoming more eco-friendly in all aspects. Even for accommodations, a sudden need for eco-friendly hotels is on the rise in Singapore. Spas and fitness centers are all included in this trendy fashion. 

There has also been growth in boutique hotels and Airbnb. More and more people are investing (both foreigners and locals) in the industry.

Moreover, country-focused amenities, intimate settings, and unique styling are being noticed throughout Singapore. As the country starts to deal with more specific tourists, the STB encourages their accommodations to be like their tradition and culture to make them feel at home.

​Initiatives for Tourist Sustainability

Singapore has introduced its Green Plan 2030 for its sustainable tourism. In collaboration with the UN Sustainable Development Agenda, it showcases the core pillars of GSTC.

The plan includes initiatives such as sustainable tourism strategies and a hotel sustainability roadmap throughout the country. Preservation of culture and heritage is also included in planned guidelines.

This includes the protection of events held in the Mid Autumn in Chinatown, the Hari Raya Lighting, and Deepavali celebrations.

There is also an initiative to make Singapore greener with the OneMillionTrees movement. Biodiversity conservation and ecological connectivity are also being implemented.

All hotels should introduce this green initiative, including the Singapore Flyer and Marina Bay area.

As more tourists (90%) look forward to sustainable tourism, their will to pay is lesser. Singapore is working on lessening the prices of premium features to attract more tourists. At the same time, the country is looking for foreign investors for its eco-friendly tourism sector, which is predicted to reach $8.2 trillion by 2032.

This will also benefit the economy of the country, as well as others.

Challenges and Opportunities of the Singapore Tourism Industry

Every aspect of business is not without its challenges. Singapore’s tourism industry is no different. There are also opportunities and future aspects to look into.

Challenges Faced by the Singapore Tourism Industry

The tourism industry is linked to the country’s economy. A country’s economic condition is influenced highly by the global economy.

With the economic slowdown and fluctuations in currency exchange rates, Singapore faces a huge challenge in coping.

There is also the fact of competitors. With connected borders with neighboring destinations, it is sometimes difficult to attract tourists to Singapore. As Singapore’s living costs are higher than usual, the tourism industry is also a bit expensive.

As more and more travelers look for out-of-the-ordinary authentic experiences, it is a challenge to maintain the tourist’s interest.

Other challenges include any global pandemic, unrest, and geopolitical tensions that Singapore has to look out for.

There is still room to grow in challenging situations. Singapore is looking into those and can still focus on a lot of opportunities to grow the country’s tourism industry. These things need to be addressed next.

Singapore's Opportunities for Growth and Diversification

There is always a market to grow with the tourism industry. This includes capitalizing in emerging markets. Singapore has already included this agenda in its list, but going into China, India, and all of Southeast Asia would be a secure step toward tourism.

While eco-tourism and wellness are on the top list of trendy tourists, this is still being implemented in Singapore. Aspects of wellness and culinary tourism have room to grow.

Modern tourists like to explore more diverse destinations. So, with the traditional attractions on the side, the country can focus on more enthusiastic explorers for niche-based tourism.

Continued development in transportation, accommodation, and facilities, catering to country or region-specific tourists, is still on the low. Investing a close concern in these fields can help more for tourism.

Singapore has already taken steps towards many future plans. These things need to be addressed, too, in order to complete the full circle of the industry.

Singapore Future Tourism Strategies and Marketing Efforts

Singapore is looking into a sustainable Green Singapore. This commitment to the UN will increase the number of like-minded tourists visiting the country. By 2050, the country wishes to go zero net emissions with its efforts on both the nation and its tourism industry.

Singapore Future Tourism Strategies

Integrating the country’s developed technological industry along with tourists would bring a more immersive experience. This will also help target specific and potential markets, efficient visa operation, and the overall tourism ecosystem. The country has already started the “Made in Singapore’ campaign, which is a big hit across the UK.

Singapore also offers a diversification of experiences through its national events from different cultures. Being a country with Chinese, Malay, Indian, Eurasian, and Peranakan cultures, the country has included each of the holidays as its heritage. This is bringing in more tourists, as we have seen at the beginning of 2024.

Another great initiative that Singapore has taken recently is collaborating with governments and private entertainment companies. This has brought the Singapore tourism industry close to different regions in the world.

​Conclusion

Singapore is a small country with a big potential for tourism. Being a safe route for business and as a country in general, it has positioned itself in the world market. The challenges that it has faced from the recent pandemic have brought new challenges to face later on.

However, there is a lot of room for the country to grow with its diversified effort, heritage, and technological advancements. Markets such as China, India, the US, and Europe are still eager to visit the country.

Looking into a more eco-friendly aspect for the latest trends would draw larger niche-based visitors to the country. While the country is already one step ahead of its wellness program, integrating the full sustainability efforts with the UN would be a more secure step for the industry.

As the country embraces the future of technological development and implements artificial intelligence in its marketing, it is safe to say the country’s future looks brighter than before. With strategic planning, effort, and innovative steps, Singapore can regain its former status in the world.

Frequently Asked Questions (FAQs)

The number of tourists who visited Singapore in 2021 was 92,796. Due to the pandemic, restrictions were in place, and there were fewer tourists allowed in the country to avoid further spread.

Singapore experiences the most tourists in the country between the months of December and June. This is due to the less humid weather and more attractions to experience during this time.

Singapore started its tourism sector on 1st January 1964. The first tourism board was called the Singapore Tourist Promotion Board rather than the Singapore Tourism Board now.

The Singapore tourism slogan is ‘Passion Made Possible.’ It signifies how the country has defied all odds and became one of the leading metropolises in the world.

There are over 430 hotels/properties in Singapore offering over 70,000 rooms to tourists throughout the country.

Singapore's top export products are:

  • Electronics and electrical equipment.
  • Petroleum and chemical products.
  • Pharmaceutical products.
  • Biomedical products.
  • Machinery and equipment.

Singapore's main business is manufacturing electrical goods. This includes different types of parts to fully-fledged electronic devices.

Singapore is ranked 5th in the world's tourism industry and 2nd in Asia.

Singapore is known for its tourist attractions due to many reasons. For one, it is the global financial center of southeast Asia, which brings in a lot of business travelers. Secondly, it has the most breathtaking heritage sites and a world-class airport with a waterfall inside. Luxurious malls and other destinations in island nations come after these two reasons, which makes it one of the most desired attractions for tourists.

The answer is yes; things in Singapore are a bit expensive. As a well-developed country, the living standards and safety are high. The country is ranked 6th among the world's safest countries as of 2023. Having all the luxury brands, Michelin-star restaurants, and high-end lifestyles, things are a bit expensive. But you can also find a lot of affordable options as a tourist.

You can Download the Infographics of this article by clicking on the link below

Written by
Picture of Usama Jahangir

Usama Jahangir

"Words, research, music, repeat. Throw some words at me, and I will bring them back magnificently. You never know what hides behind a word, it's a mystery that keeps on unfolding. While writing is my passion, my hobbies include trying new cuisines and music."
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