Singapore tourism spending rises to record S$23.9 billion in first three quarters of 2025
Singapore's tourism sector saw "steady growth" last year, with tourism receipts rising 6.5 per cent year-on-year between January and September 2025, STB said.
People take photographs of a floral display at Gardens by the Bay in Singapore on Jan 17, 2025. (File photo: AFP/Roslan Rahman)
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SINGAPORE: Tourism spending in Singapore reached a record S$23.9 billion (US$18.8 billion) in the first three quarters of 2025, the Singapore Tourism Board (STB) said on Tuesday (Feb 3).
The country's tourism sector saw "steady growth" last year, with tourism receipts rising 6.5 per cent year-on-year between January and September 2025, STB said in a media release.
"Tourism receipts performance from January to September 2025 puts full-year performance on track to exceed STB's projections of S$29 (billion) to S$30.5 billion for 2025," it added.
The full-year tourism receipts figure for 2025 will be available in the second quarter of this year.
TOURISM SPENDING
Tourism receipts growth was largely led by sightseeing, entertainment and gaming, and food and beverage, with each showing 15 per cent growth, STB said.
Mainland China, Indonesia, and Australia were the top tourism-receipt-generating markets, contributing S$3.68 billion, S$2.09 billion and S$1.54 billion, respectively. The figures exclude receipts from the sightseeing, entertainment and gaming category.
Tourists from mainland China spent 3 per cent more than they did during the first three quarters of 2024, with their food and beverage spending rising 19 per cent to lead the increase in receipts.
VISITOR ARRIVALS
International visitor arrivals to Singapore for the whole of 2025 rose 2.3 per cent year-on-year to 16.9 million.
The top three markets for arrivals were mainland China, Indonesia and Malaysia, which contributed 3.1 million, 2.4 million and 1.3 million visitors, respectively.
Another 1.3 million arrivals came from Australia – a record – and India rounded off the top five markets with a contribution of 1.2 million arrivals.
STB's projections for 2025 were for international visitor arrivals to reach between 17 million and 18.5 million.
A year-on-year decline was observed in some markets.
Arrivals from Vietnam dropped from 393,000 in 2024 to 344,000, which STB attributed to "greater price sensitivity around travel".
Similarly, arrivals from the Philippines fell from 779,000 in 2024 to 726,000, following a spike in arrivals the preceding year "driven by large-scale entertainment events in Singapore", STB said.
Despite the decrease observed in arrivals from some countries, Singapore's international visitor arrivals "remained healthy", said STB.
Arrivals from Japan, Malaysia, Germany and the United States saw "notable growth", STB added, rising 10 per cent, 8 per cent, 5 per cent and 4 per cent, respectively.
TOURISM SPENDING
STB said that the strong tourism spending can be attributed to "new and refreshed experiences" across multiple industries.
"Several major attractions opened in 2025, enhancing Singapore's destination appeal," said STB, noting the opening of Rainforest Wild and the Singapore Oceanarium.
Rejuvenation efforts also enhanced existing attractions like the Chinatown Heritage Centre and SuperPark.
"World-class events" were also a key driver of tourism spending, said STB.
"Key highlights included ART SG, Southeast Asia's leading international art fair during Singapore Art Week, which featured 105 galleries from 30 countries and attracted more than 41,000 visitors," STB said.
"The Formula 1 Singapore Airlines Singapore Grand Prix continued to be a major draw, with total attendance reaching 300,641 over the three-day event - an 11.7 per cent increase from 2024."
Other major sporting events that contributed to tourism spending included the 2025 World Aquatics Championships, which was the first edition of the championships to be held in Southeast Asia, and the Singapore Festival of Football.
Concerts held by Lady Gaga, Blackpink and Seventeen, as well as new openings in the hospitality sector, such as Raffles Sentosa Singapore, Mandai Rainforest Resort by Banyan Tree and The Laurus at Resorts World Sentosa, also boosted numbers.
"The (meetings, incentives, conventions and exhibitions) industry also contributed to visitor spending, with a packed calendar of events," said STB.
"Major events included the Milken Institute Asia Summit, ITMA Asia + CITME and several inaugural Asia editions of established international events, including HealthTechX Asia 2025 and LSI Asia 2025."
The Sun Pharma Star Club Awards 2025 was also "notable" as it marked the largest meeting and incentive movement from India, attracting 6,100 participants.
"Efforts across different industries reflect business confidence in Singapore's tourism sector, as local and international businesses recognise the country's strength as (a) leading tourism destination and a well-connected hub that enables significant visitor flows and provides access to diverse international markets," said STB.
STB's chief executive Melissa Ow said: "The strong tourism receipts performance in 2025 puts us on a steady trajectory towards achieving our Tourism 2040 ambitions.
"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."
Singapore's Tourism 2040 plan aims to increase tourism spending to between S$47 billion and S$50 billion by 2040.
OUTLOOK FOR 2026
International visitor arrivals are expected to hit between 17 million and 18 million in 2026, with tourism spending forecast to come in at between S$31 billion and S$32.5 billion, said STB.
It added that the 2026 projections took a "measured approach" due to "global economic uncertainty" and the impact of political instability on global travel patterns.
Ms Ow said: "As we work towards our Tourism 2040 goals and a sustainable tourism sector, STB will continue to seek out opportunities to reach new markets and support our tourism enterprises and workforce to develop differentiated products and experiences."
