Singapore’s tourism receipts set new high in first three quarters of 2025

SINGAPORE - Tourism spending in Singapore hit a record $23.9 billion in the first three quarters of 2025, up 6.5 per cent from the same period in 2024. This puts the sector on track to surpass the Singapore Tourism Board’s (STB) full-year forecast of $29 billion to $30.5 billion.

Meanwhile, international visitor arrivals to Singapore rose to 16.9 million in 2025, up 2.3 per cent from 2024 and just under STB’s forecast of 17 million to 18.5 million visitors for the year.

China (3.1 million arrivals), Indonesia (2.44 million) and Malaysia (1.28 million) were the top three source countries for visitors, followed by Australia (1.27 million) and India (1.21 million). There was also notable growth from a mix of short-, mid- and long-haul markets, with Japan, Malaysia and the US adding 10 per cent, 8 per cent and 4 per cent in year-on-year visitor numbers, respectively.

Meanwhile, arrivals from some regional markets declined, which the board attributed to greater price sensitivity and a return to the norm after the Republic hosted major global acts in 2024 such as Bruno Mars, Coldplay and Taylor Swift. There were 344,000 visitors from Vietnam, down from 393,000 in 2024, while visitors from the Philippines fell to 726,000 from 779,000.

“The strong tourism receipts performance in 2025 puts us on a steady trajectory towards achieving our Tourism 2040 ambitions,” STB chief executive Melissa Ow said in a media release on Feb 3.

Tourism 2040 refers to STB’s road map of driving the city-state’s tourism growth amid rising global competition and changing demographics by focusing on quality tourism.

“We are attracting visitors who value the distinctive experiences that Singapore offers. To maintain this growth momentum and reinforce our destination appeal and global hub status, we will continue to develop a strong pipeline of differentiated products, events and experiences,” she added.

STB said it expects 2026 international visitor arrivals to reach between 17 million and 18 million, and tourism spending to reach between $31 billion and $32.5 billion.

Growth in tourism receipts

The growth in tourism receipts was led by the sightseeing, entertainment and gaming as well as the food and beverage (F&B) categories, which each posted 15 per cent growth.

China, Indonesia and Australia were the top three markets in tourist spending here, contributing $3.68 billion, $2.09 billion and $1.54 billion, respectively. Spending by Chinese tourists grew 3 per cent compared with the same period in 2024, with consumption in F&B leading the growth with a 19 per cent year-on-year increase.

Final figures for 2025’s tourism receipts will be released in the second quarter of 2026.

STB said the strong tourism spending can be attributed to the new and refreshed experiences across multiple industries, such as attractions, events, cruise and MICE (meetings, incentives, conventions and exhibitions).

Several major attractions opened in 2025,

including Rainforest Wild

and Curiosity Cove at Mandai Wildlife Reserve; Jurassic World: The Experience at Gardens by the Bay’s Cloud Forest; and Singapore Oceanarium at Resorts World Sentosa.

The Republic’s culinary landscape expanded with new dining concepts such as Belimbing by The Lo & Behold Group, Pop City by Jigger & Pony Group, Gilmore & Damian D’Silva, and Rempapa by OUE Restaurants, added STB.

Singapore also maintained its position as Asia’s premier events capital by hosting major events such as the

Formula One Singapore Grand Prix

, the World Aquatics Championships 2025, and concerts headlined by international artistes including Lady Gaga and Blackpink.

The MICE industry also contributed to visitor spending with major events such as the Milken Institute Asia Summit and HealthTechX Asia 2025.

Singapore ranked third worldwide and first in the Asia-Pacific, according to the International Congress and Convention Association, reinforcing the city-state’s appeal as a premier business events destination, said the board.

The hotel industry also maintained a stable performance in 2025, with the average occupancy rate increasing year on year to 81.9 per cent from 81.4 per cent in 2024. The average room rate was $273.56, down 1 per cent from 2024, while revenue per available room was $224.04, which was down 0.4 per cent.

Hotel capacity expanded with 644 new hotel keys, and new additions included Raffles Sentosa Singapore and Mandai Rainforest Resort.

The cruise industry, meanwhile, recorded strong growth, with 375 ship calls here in 2025, a 10 per cent increase, and throughput of more than two million cruise passengers, a 9 per cent growth.

The completion of the

$40 million Marina Bay Cruise Centre Singapore expansion

raised the passenger capacity from 6,800 to 11,700, and Singapore also welcomed new homeported ships such as StarDream Cruises’ Star Voyager, Royal Caribbean International’s Ovation of the Seas, and The Ritz-Carlton Yacht Collection’s Luminara.

Measured projections for 2026

On its 2026 projections, STB said it took a measured approach, given that global economic uncertainty and political instability are affecting travel patterns around the world.

“STB will continue to seek out opportunities to reach new markets and support our tourism enterprises and workforce to develop differentiated products and experiences,” said Ms Ow.

New offerings slated for 2026 include a multi-concept destination by immersive dining company AndSoForth, and the return of Cirque du Soleil’s Kooza to Singapore, its only South-east Asia stop. Other highlights include the

upcoming concert by K-pop boy band BTS,

Disney Cruise Line’s first Asia homeport, and the new sprint race at the 2026 F1 Singapore Grand Prix.

The MICE sector will also welcome major events like the Association for the Advancement of Artificial Intelligence 2026 Annual Conference and the Herbalife Extravaganza 2026, which is expected to draw 25,000 visitors.

DBS Bank senior economist Chua Han Teng said that for STB to power the next phase of Singapore’s tourism growth, the board has to maintain its focus on executing its Tourism 2040 road map, which aims for tourist receipts of between $47 billion and $50 billion by 2040.

“A notable high-quality segment of target will be MICE visitors, who have deep wallets, spending twice as much as leisure travellers,” he said.

“Cultivating a vibrant MICE sector will generate positive spillovers into other economic sectors by continuing to foster international business connections, thereby supporting Singapore’s leading position as a global business hub.”

Mr Benjamin Cassim, senior lecturer for lifestyle and consumer experience at Temasek Polytechnic’s School of Business, said STB should ensure a sufficient range of experiences that encourages visitors to stay longer.

Tourists also value convenience in air connectivity and ground transport, safety and security, and a welcoming environment, he said.

“Some of these sentiments have taken on more importance in view of the disruptions that are going on in various countries and regions in the world, such as political unrest, wars and even natural disasters,” he added.

Singapore should also invest in upskilling and workforce development to enhance sector capabilities. Strengthening digital, hospitality and sustainability competencies will enable the Republic to deliver superior experience-led offerings, he said.

Associate Professor Lau Kong Cheen, head of the marketing programme at the Singapore University of Social Sciences, said Singapore should also continue to promote its hawker culture, which was officially added to the

UNESCO Representative List of the Intangible Cultural Heritage of Humanity

in 2020.

“This is an important anchor to demonstrate authenticity of Singapore’s food heritage,” he said. “The combination of heritage, international and contemporary cuisine will give our tourism sector another dimension of attraction for gastronomic tourism,” he added.