TBM Staff - Mumbai
In 2023, Singapore experienced 115% surge in visitor numbers, reaching 13.6 million compared to the pandemic-impacted 6.3 million in 2022. This figure aligns with the Singapore Tourism Board’s (STB) projection of 12 to 14 million visitors. Although representing 71% of the 2019 pre-pandemic levels, this growth showcases a significant recovery in international travel, as reported by Channel News Asia citing STB data.
A substantial portion of the visitors hailed from Singapore’s neighboring and traditional source markets, with Indonesia leading at 2.3 million, followed by China at 1.4 million, and Malaysia at 1.1 million. Australia emerged as the fourth prominent tourism-generating market, closely competing with India.
Projections for Singapore’s tourism revenue in 2023 range between Rs 1,51,000 crores and Rs 1,60,000 crores, accounting for 88% to 94% of the 2019 levels, as disclosed by STB. The average length of stay increased to approximately 3.8 days in 2023, compared to 3.4 days in the equivalent period in 2019.
Reflecting the sector’s strength, the average room rate rose to Rs 17,500 in 2023 from Rs 14,000 in 2019. STB remarked on the tourism sector’s recovery throughout 2023.
Looking ahead to 2024, Singapore anticipates international visitor arrivals to reach approximately 15 to 16 million.
