After the detailed analysis on global tourism market, FMI has recently published a new report on Singapore tourism industry. The outlook suggests tourism industry in Singapore to hit a mark of US$ 29,288 million in 2024.

Attributes	Details
Singapore Tourism Industry Size in 2024	US$ 29,288 million
Expected Singapore Tourism Industry Size by 2034	US$ 45,050 million
Forecasted CAGR between 2024 to 2034	4.40%

Historical vs Future Outlook for Singapore’s Tourism Industry

Category	Historical Period from 2019 to 2023
Market Valuation at the End of the Period	US$ 28,188.60 million
CAGR	3.80%
Key Trends	Sustainable tourism focus
Growth factors	Digital tech adoption

Category	Forecast Period from 2024 to 2034
Market Valuation at the End of the Period	US$ 45,050 million
CAGR	4.40%
Key Trends	AI-driven personalized experiences
Growth factors	Wellness tourism demand

Category wise insights

By Tourist Type	Domestic
The share held by the Segment in 2024	52%

By Booking Channel	Online Booking
Share held by the Segment in 2024	59%

In 2023, the total tourism receipts in Singapore was 27.16 billion Singapore dollars. The value of tourism receipts has increased again after the COVID-19 pandemic.

In 2023, the total international visitor arrivals to Singapore was approximately 13.61 million. The number of international visitors to Singapore had significantly increased, indicating a recovery from the impact of the Covid-19 pandemic. From transit point to tourist destination Singapore is one of Asia’s leading transport hubs for international air passenger traffic, and serves as a transit point between Asia and the rest of the world. It is surrounded by several popular destinations among international tourists, such as Thailand, Bali in Indonesia, and Malaysia. Even so, Singapore had managed to market itself as a must-visit tourist destination in its own right, attracting repeat visitors by offering unique city experiences such as the Gardens by the Bay, and integrated resorts boasting casinos and amusement parks. Profile of the international visitor to Singapore Indonesia was Singapore’s largest feeder market for international visitors in 2023, followed by China and Malaysia. The majority of international visitors to Singapore were there for holiday purposes, and stayed for an average of 3.79 nights. The relatively expensive cost of accommodation in Singapore and the relatively compact location of the major attractions make it easier for tourists to see the sights in a short period of time.

Singapore SG: International Tourism: Number of Arrivals data was reported at 12,914,000.000 Person in 2016. This records an increase from the previous number of 12,051,000.000 Person for 2015. Singapore SG: International Tourism: Number of Arrivals data is updated yearly, averaging 7,283,500.000 Person from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 12,914,000.000 Person in 2016 and a record low of 4,703,000.000 Person in 2003. Singapore SG: International Tourism: Number of Arrivals data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank.WDI: Tourism Statistics. International inbound tourists (overnight visitors) are the number of tourists who travel to a country other than that in which they have their usual residence, but outside their usual environment, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the country visited. When data on number of tourists are not available, the number of visitors, which includes tourists, same-day visitors, cruise passengers, and crew members, is shown instead. Sources and collection methods for arrivals differ across countries. In some cases data are from border statistics (police, immigration, and the like) and supplemented by border surveys. In other cases data are from tourism accommodation establishments. For some countries number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some countries include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across countries. The data on inbound tourists refer to the number of arrivals, not to the number of people traveling. Thus a person who makes several trips to a country during a given period is counted each time as a new arrival.; ; World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.; Gap-filled total;

Singapore Tourism Receipts: Food and Beverage data was reported at 2,649.000 SGD mn in 2017. This records a decrease from the previous number of 2,787.000 SGD mn for 2016. Singapore Tourism Receipts: Food and Beverage data is updated yearly, averaging 850.100 SGD mn from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 2,787.000 SGD mn in 2016 and a record low of 511.500 SGD mn in 1992. Singapore Tourism Receipts: Food and Beverage data remains active status in CEIC and is reported by Singapore Tourism Board. The data is categorized under Global Database’s Singapore – Table SG.Q011: Tourism Revenue and Expenditure.

International tourism, number of arrivals in Singapore was reported at 2742000 in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - International tourism, number of arrivals - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

In 2023, the direct contribution from tourism to Singapore's gross domestic product was forecast to be at 3.7 percent. This figure was close to the GDP direct contribution from tourism before the COVID-19 pandemic.

Singapore SG: International Tourism: Receipts: % of Total Exports data was reported at 3.529 % in 2016. This records an increase from the previous number of 3.070 % for 2015. Singapore SG: International Tourism: Receipts: % of Total Exports data is updated yearly, averaging 3.036 % from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 4.778 % in 1995 and a record low of 1.930 % in 2003. Singapore SG: International Tourism: Receipts: % of Total Exports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank.WDI: Tourism Statistics. International tourism receipts are expenditures by international inbound visitors, including payments to national carriers for international transport. These receipts include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except when these are important enough to justify separate classification. For some countries they do not include receipts for passenger transport items. Their share in exports is calculated as a ratio to exports of goods and services, which comprise all transactions between residents of a country and the rest of the world involving a change of ownership from residents to nonresidents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services.; ; World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files, and IMF and World Bank exports estimates.; Weighted average;

Dataset

This dataset was created by shweta sharma

Contents

It contains the following files:

International tourism, receipts (current US$) in Singapore was reported at 20416000000 USD in 2018, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - International tourism, receipts - actual values, historical data, forecasts and projections were sourced from the World Bank on May of 2025.

International tourism, receipts (% of total exports) in Singapore was reported at 3.038 % in 2018, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - International tourism, receipts (% of total exports) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

The Singapore travel and tourism market size reached USD 4.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.8 Billion by 2033, exhibiting a growth rate (CAGR) of 4.6% during 2025-2033. There are various factors that are driving the market, which include the rising number of international cruise passengers, improving airport infrastructure, favorable visa policies, and increasing adoption of digital technologies.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 4.5 Billion
Market Forecast in 2033	USD 6.8 Billion
Market Growth Rate (2025-2033)	4.6%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2025-2033​. Our report has categorized the market based on type, service offering, purpose of visit, and booking type.

In 2019, employment in tourism made up about 4.7 percent of total employment in Singapore. This was forecasted to increase to 5.1 percent in 2029. In that year, tourism made up about four percent of Singapore's GDP.

Singapore Tourism Receipts: Hong Kong data was reported at 563.434 SGD mn in 2017. This records an increase from the previous number of 511.000 SGD mn for 2016. Singapore Tourism Receipts: Hong Kong data is updated yearly, averaging 193.250 SGD mn from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 563.434 SGD mn in 2017 and a record low of 112.900 SGD mn in 1992. Singapore Tourism Receipts: Hong Kong data remains active status in CEIC and is reported by Singapore Tourism Board. The data is categorized under Global Database’s Singapore – Table SG.Q011: Tourism Revenue and Expenditure.

Key information about Singapore Visitor Arrivals

• Singapore Visitor Arrivals recorded 1,191,482 person in Jan 2025, compared with 959,697 person in the previous month
• Singapore Visitor Arrivals data is updated monthly, available from Jan 2008 to Jan 2025
• The data reached an all-time high of 1,397,737 person in Aug 2019 and a record low of 1,732 person in Sep 2020

CEIC calculates monthly Tourist Arrivals by subtracting Visitors whose Length of Stay: Under 1 day from Total Visitors. The Singapore Department of Statistics provides Total Visitors and Visitors whose Length of Stay: Under 1 day.

International tourism, receipts for travel items (current US$) in Singapore was reported at 5189000000 USD in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - International tourism, receipts for travel items - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

In 2023, international visitors from China had the highers tourism receipts in Singapore, spending 3.09 billion Singapore dollars in total on tourism-related activities. This was followed by visitors from Indonesia, who spent 2.98 billion Singapore dollars on tourism-related activities.

Singapore’s tourism sector registered growth in 2015, driven by Singapore Tourism Board’s (STB) efforts to attract tourists by launching tourism promotion campaigns. With a share of 47.4% of the total outbound trips in 2015, Malaysia remained the largest destination market for Singapore. A strong Singapore dollar encouraged Singaporeans to take more outbound trips rather than domestic trips. Read More

In 2023, tourism expenditures for sightseeing, entertainment, and gaming amounted to 5.06 billion Singapore dollars. This segment made up the highest tourism expenditure, followed by shopping.

Key information about Singapore Tourism Revenue Growth

• Singapore Tourism Revenue dropped 4.8 % YoY in Sep 2024, compared with an increase of 6.4 % YoY in the previous quarter
• Singapore Tourism Revenue Growth rate data is updated quarterly, available from Mar 2008 to Sep 2024
• The data reached an all-time high of 1,145.9 % in Sep 2022 and a record low of -97.6 % in Jun 2020

CEIC calculates quarterly Tourism Revenue Growth from quarterly Tourism Revenue. Singapore Tourism Board provides year-to-date Tourism Revenue in local currency.