Ms Alanna Chie, regional marketing manager of Trafalgar tours, says the "last-chance mentality" is a strong factor in the great northern rush.
She says: "More travel companies are pushing out competitive packages with more choices for these travellers and airfares are also getting very competitive."
She adds that airfares to Iceland, especially, have dropped significantly, compared with traditional Northern Lights destinations such as Alaska. Flights from Singapore to Reykjavik on Finnair start from $1,300 and are less than $300 return from London to Reykjavik. Tickets can be even cheaper through some travel agents.
It is one of the reasons why recently, of the Nordic countries, Iceland is the hottest destination. For the first time last year, the country of about 330,000 people had more than 1.2 million tourists, almost double the 650,000 tourists who visited it in 2012.
TripAdvisor saw a 65 per cent increase in searches on Iceland last year, the highest year-on-year growth globally.
Locally, Singaporean searches for Icelandic hotels rose 150 per cent on Hotels.com.
The best time to see the lights is during winter, between November and March, but there is also a case for going during the warmer months from June to August.
Although the nights are shorter and Northern Lights sightings much rarer, the roads are free of snow and tourists can use the longer daylight hours to drive around the country and experience its otherworldly landscape of grassy plains, jagged cliffs and milky blue thermal lagoons.
Iceland's tourism bureau says that 40 per cent of its international visitors arrived in summer, while only 29 per cent arrived in winter last year.
Another benefit of the warmer weather is that activities such as caving and whale-watching are more viable.
Like Iceland, Finland and Norway have also become popular destinations for theNorthern Lights and their unique activities such as reindeer sleighs and ice fishing.
Singaporean searches for hotels in Finland went up 132 per cent on Hotels.com last year and Dynasty Travel's Finland itineraries had a 40 per cent increase in bookings in March this year, compared with the same time last year.
Finnair's daily 12-hour non-stop flight from Singapore to Helsinki starts from $855 return.
Mr Nico Heath, director and co-founder of Lightfoot Travel, says that while seeing the lights is usually the aim of holidays to Scandinavia and Iceland, it is important to create itineraries that do not solely depend on them.
"Mother Nature can be fickle and there is no guarantee you will be able to see this stunning phenomenon," he cautions.
Advertising creative Candy Kang, 41, visited Iceland with her boyfriend in March last year and failed to see the Northern Lights.
They drove "far from civilisation" to no avail. "We endured the cold, saw a million stars, even shooting stars, but no Northern Lights. It was disappointing. It felt like false advertising," she says.
Seeing the lights depends on a variety of factors, including the strength of the solar winds, the light of the moon or nearby cities and the amount of clouds in the sky.
Determined, Ms Kang made another trip last month, this time to Norway, and booked a four-night cruise along the Norwegian coast to the Arctic town of Tromso, where she joined an inland Aurora Safari. It was rainy and cloudy for most of the trip, but on the night of the safari, the sky cleared and there was a bright solar storm.