Singapore’s year-round calendar of leisure and business events contributed to the surge in visitor numbers in 2024. Photo Credit: Adobe Stock/Kencana Studio
Singapore welcomed 16.5 million international visitors in 2024, a significant 21% increase from the previous year, according to the Singapore Tourism Board (STB). This surge also drove tourism receipts to S$22.4 billion (US$16.4 billion) from January to September 2024, setting a record in visitor spending.
The rise in visitor numbers and spending was attributed to several developments. The visa exemption for China, introduced in February 2024, significantly boosted Chinese tourist arrivals. Improved air connectivity saw Changi Airport report a 15% increase in international seat capacity, recovering to 98% of pre-pandemic levels.
Additionally, Singapore’s year-round calendar of events, spanning high-profile events, such as the Formula 1 Grand Prix and concerts by global stars like Taylor Swift, as well as a series of business events and large-scale trade shows, contributed to the increase in visitor numbers.
“Singapore’s tourism sector posted a strong performance, an affirmation of the industry’s efforts in refreshing our products and experiences,” said Melissa Ow, chief executive of STB.
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Top source markets (Jan–Dec 2024)
Singapore’s largest source markets were predominantly within Asia:
China: 3.08 million
Indonesia: 2.49 million
India: 1.20 million
Malaysia: 1.19 million
Australia: 1.17 million
Philippines: 779,000
US: 692,000
South Korea: 595,000
UK: 580,000
Japan: 573,000
Visitor spending trends
Tourism receipts from January to September 2024 rose to S$22.4 billion (US$16.4 billion), a 10% increase year-on-year. China led spending at S$3.58 billion, followed by Indonesia (S$2.13 billion) and Australia (S$1.44 billion) respectively (excluding sightseeing, entertainment and gaming).
All spending categories saw year-on-year growth, led by sightseeing, entertainment & gaming (+25%); accommodation (+17%); food & beverage (+6%); and shopping (+5%).
Singapore's hotel industry also demonstrated positive growth in 2024, with average room rate (ARR) increasing 1.4% year-on-year to reach S$276, revenue per available room (RevPAR) growing 3% to S$226, and the average occupancy rate (AOR) climbing to 81.8% in 2024, a 1.3% point increase compared to 80.5% in 2023.
The sector added 1,421 new hotel keys, with notable openings like The Standard Singapore and Mercure ICON Singapore City Centre.
MICE industry highlights
Singapore strengthened its reputation as a global hub for business events, with several first-time events in 2024. These included the Asia Photonics Expo, SuperAI 2024, UTECH Southeast Asia 2024, and World Economic Forum Young Global Leaders Summit 2024. These were complemented by large-scale trade shows such as the Singapore Airshow 2024 and Food & Hotel Asia 2024.
Moreover, Singapore achieved its highest-ever ranking on the International Congress and Convention Association (ICCA) Worldwide City Rankings, moving up over 10 places to second globally.
Related: Setting the gold standard: 5 tips for sustainable MICE events in Singapore
STB also made strides in sustainable tourism by collaborating with MICE stakeholders to develop the world’s first GSTC-recognised sustainability standards for MICE Event Organisers and Venues. This effort supported Singapore’s top ranking in Asia Pacific and seventh globally on the 2024 Global Destination Sustainability Index.
Bright prospects for 2025
Looking ahead, STB projects 17.0 to 18.5 million visitor arrivals in 2025, with tourism receipts expected to reach between S$29.0 and S$30.5 billion. The optimistic outlook is driven by continued air connectivity, new attractions, and a strong calendar of leisure and business events.