Singapore’s tourism sector has shown remarkable resilience and exceeded expectations in 2023, according to the Singapore Tourism Board (STB).
The international visitor arrivals (IVA) reached 13.6 million, representing approximately 71 percent of the visitor numbers in 2019. This performance is in line with the recovery of international tourism worldwide.
The tourism receipts are estimated to reach between $24.5 and $26.0 billion, which is approximately 88 to 94 percent of the tourism receipts in 2019. This surpasses the STB’s original forecast of $18.0 to $21.0 billion for 2023, highlighting the sector’s strong rebound.
Ms. Melissa Ow, Chief Executive of STB, stated that the impressive performance reflects the increasing flight capacity and growing international travel demand. She emphasized the success of Singapore’s strategy to attract diverse visitors from different markets, resulting in longer stays and higher tourism receipts. The rich array of business and leisure offerings in Singapore has contributed to the city-state’s continued appeal as a trusted tourism destination.
“The robust performance in 2023 signals a promising recovery for tourism, in line with increasing flight capacity and growth in international travel demand. Our strategy to attract a healthy and diverse visitor portfolio, comprising long and short haul markets, has significantly contributed to our overall visitor arrivals, longer length of stay and growth in tourism receipts. Singapore’s thriving pipeline of business and leisure offerings demonstrates our continued appeal as an attractive and trusted tourism destination, and reflects the unwavering confidence our partners have in Singapore.”
– Ms Melissa Ow, Chief Executive, Singapore Tourism Board
The key markets that drove the visitor arrivals were Indonesia, China, and Malaysia, with each contributing millions of visitors. Other markets such as Australia, South Korea, and the USA also showed a buoyant recovery.
- Indonesia – 2.3 million visitor arrivals
- China – 1.4 million visitor arrivals
- Malaysia – 1.1 million visitor arrivals
In terms of tourism receipts, China, Indonesia, and Australia were the top markets, generating billions of dollars. All categories of spending have either exceeded or come close to pre-pandemic levels during the first nine months of 2023.
Visitors also stayed longer in Singapore, with the average length of stay reaching approximately 3.8 days in 2023, compared to 3.4 days in 2019, according to STB report.
INDUSTRY WISE GROWTH
The hotel industry in Singapore also performed well, surpassing 2019 levels. The Average Room Rate (ARR) and Revenue per Available Room (RevPAR) reached 128 percent and 118 percent of the 2019 levels, respectively. The Average Occupancy Rate (AOR) was 80.1 percent in 2023, slightly lower than the same period in 2019 but still indicative of a strong recovery.
The cruise industry in Singapore also experienced growth, with a record 2 million passengers and over 340 ship calls at the Marina Bay Cruise Centre Singapore. This underscores Singapore’s position as a regional cruise hub.
Additionally, STB signed a memorandum of understanding with Disney Cruise Line for the exclusive five-year year-round homeporting of Disney Adventure in Singapore starting from 2025.
The robust performance of Singapore’s tourism sector in 2023 is a positive sign for the industry’s recovery and reflects the confidence of both visitors and industry partners in the city-state’s tourism offerings. Singapore continues to attract diverse visitors and provides a wide range of accommodations and attractions, positioning itself as a premier tourism destination.
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