Singapore, an island country and city - state in Southeast Asia comprises one main island, 63 satellite islands and islets, and one outlying islet, a vibrant blend of tradtion and modernity, renowned for its impressive skyline, cleanliness, efficient infrastructure, diverse multicultural society, a thriving culinary scene, known as “Garden City” for its lush green spaces and gardened areas, and a staus as a global financial hub, is experiencing tourism revenues on track for exceptional growth, expecting to reach a miimum of SGD47.0 billion, US$35.6 by 2040, with a potential of SDG50.0 billion according to the city - state’s Minister in charge of Trade Relations, Grace Fu.
These projections, shared in comments and reported by various local media indicate a significant increase from the record - breaking SDG29.8 billion in tourism receipts recorded for 2024, representing a potential 1.6 - fold growth compared to the current year.
In 2024, Singapore experienced a very significant 21.5% increase in
total visitors compared to the previous year, The city - state’s annual
visitor count reached 16.53 million visitors as reported by the Singapore Tourism
Board and the major contributors to Singapore’s tourism spending in 2024 were markets from China, Indonesia and Australia.
Linked to this positive data highlighted by exceptional achievements Singapore tourism sector is projected to continue a strong recovery, with international visitor arrivals expected to surpass pre - pandemic levels this year.
STB, Singapore Tourism Board expects between 17.0 and 18.5 million visitors for 2025 generating between $29.0 billion and $30.5 in tourist receipts that means a significant rebound from the Covid - 19 pandemic’s impact on the tourism industry.
At the 2025 Tourism Industry Conference at Suntec Singapore, the city - state’s Minister in charge of Trade Relations highlighted the growing importance and a further, relevant source of income : the MICE tourism, linked to meetings, incentives, conferences and exhibitions, considered as a cornerstone for the country’s tourism development through to 2040.
Singapore is a very popular destination for MICE tourism, attracting a global audience seeking to host successful business events, boasting world - class facilities, a strong infrastructure, and a dynamic business environment, making it an ideal hub for this sector.
The sector is reinforced by the Singapore's MICE Advantage SMAP Programme which provides exclusive priviliges, including sustainability - focused initiatives, to event organizers and delegates.
In addition in May 2024, the government introduced its “Tourism 2040” blueprint, outlining strategies for the growth and development of the sector over the next 15 years.
The country’ s Tourism 2040 road map focuses on three key pillars such as capturing demand from high potential growth opportunities, strenghten the destination attractiveness through compelling investment promotion and capabilities development efforts.
Another relevant source with a notable development is Singapore’s casino industry dominated by a duopoly, with Resorts World Sentosa managed by Genting Singapore Ltd, and Marina Bay Sands Ltd, operated by a subsidiary of Las Vegas Sands Corp and both establishments are actively enhancing amd expanding their facilities.
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