SINGAPORE: The Singapore Tourism Board (STB) has reported impressive recovery figures, with 2023 seeing 13.6 million international arrivals and estima
SINGAPORE: The Singapore Tourism Board (STB) has reported impressive recovery figures, with 2023 seeing 13.6 million international arrivals and estimated tourism receipts between S$24.5 to S$26 billion—88 to 94 percent of pre-pandemic levels. This surpasses STB’s earlier forecast of S$18 to S$21 billion, highlighting a stronger-than-expected rebound.
Looking ahead, STB expects tourism to soar even higher in 2024, projecting 15 to 16 million visitors and estimated receipts between $26.0 and $27.5 billion. Major events such as Taylor Swift’s The Eras Tour, Bruno Mars’s concert, Hamilton the musical, and the Singapore Yachting Festival 2024 are anticipated to boost these figures further. However, STB cautions that factors like geopolitical conditions, global economic trends, and flight connectivity restoration may influence growth.
India, China, Indonesia, Malaysia, and Australia are expected to remain Singapore’s top visitor sources. Markus Tan, STB’s Regional Director for India, Middle East, South Asia, and Africa, noted India’s significance, with 1.07 million Indian visitors in 2023, achieving a 75% recovery of 2019’s record 1.4 million tourists. With additional growth expected from India’s tier 2 cities, Mr. Tan emphasized STB’s commitment to maintaining momentum in this key market.
STB chief executive Melissa Ow shared STB’s goals for sustainable growth, emphasizing quality tourism, strategic partnerships, investment in new experiences, and support for industry stakeholders to further Singapore’s appeal as a premier destination.
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