singapore tourism statistics 2019

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International Visitor Arrivals

The Singapore Tourism Board publishes monthly statistics on international visitor arrivals. Data on international visitor arrivals are compiled from immigration movement records completed by all visitors arriving in Singapore at the points of entry.

Please click on the topic to view the available data tables.

Data are preliminary when first released. 1 Refers to % change in latest period over the same period in the previous year. 2 Refers to % change in the previous period over the same period in the previous year. 3 Data under the column for '% change (y-o-y)' refer to percentage point change. 4 Refers to room-nights available for occupancy. Excludes rooms closed for renovations and staff use as declared by the hotels in the statutory forms.

Title : International Visitor Arrivals By Inbound Tourism Markets, Monthly

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Tourism in Singapore

Development of the tourism sector in singapore from 1995 to 2021.

Revenues from tourism

All data for Singapore in detail

Singapore Tourism Statistics

Singapore, known as the Little Red Dot, has seen a consistent increase in tourism over the years. This vibrant city-state has caught the eye of travellers worldwide due to its outstanding cultural diversity, picturesque cityscape, and exquisite cuisine.

How many tourists visit Singapore each year?

In 2023, there were over 13.6 million tourist arrivals 1 recorded in Singapore.

How many tourists visited Singapore in 2022?

• 5.3 million tourists visited Singapore in 2022, a large increase from just a thousand visits in 2021 . 2

How many people travelled to Singapore in 2021?

• In the challenging year of 2021 , the number of visitors dropped drastically to 325,000 . This is a decrease of 84.42% from 2020 and 97.85% from 2019. 2

Singapore Tourism Statistics 2020

• The global Covid-19 pandemic affected tourism, and Singapore was no exception. Due to worldwide travel restrictions, arrivals in Singapore dropped to 2.1 million tourists 2 in 2020 , down 86.20% compared to the previous year.

Singapore Inbound Travel Statistics for 2019 – International & Domestic Tourism

• In 2019, Singapore had a record year hosting 15.1 million international tourists, with overall tourist spending amounting to SGD 27.1 billion ( $20 billion ). 2

The major sources of international tourists were largely from countries such as China (3.6 million), Indonesia (3.1 million), India (1.4 million), Malaysia (1.2 million), and Australia (1.1 million ) which contributed to 55% of Singapore’s annual international visitors. 

• Singapore’s domestic travel and tourism spending surged from $3.6 billion in 2000 to $10.5 billion in 2019, growing at an average annual rate of 5.98%.

How much do overseas visitors spend in Singapore? 

• In 2019 , international tourists in Singapore spent SGD 27 billion ( 20.30 billion USD ) on their visits. This figure fell to SGD 7 billion ( 5.35 billion USD ) in 2020 and to SGD 5 billion ( 4.11 billion USD ) in 2021 , reflecting the impact of the pandemic. In 2022 , partial recovery was witnessed with tourists spending SGD 16 billion ( 11.79 billion USD ). 2

Which country visits Singapore the most? 

• In 2023 , Singapore welcomed approximately 2.3 million Indonesian tourists , 1.4 million Chinese tourists , and around 1.1 million tourists each from Malaysia, Australia and India .
• These countries hold significant influence on Singapore’s tourist inflow with Indonesia alone representing nearly 16.91% of all arrivals in 2023 . 3  

How long do visitors stay in Singapore?  

• Throughout 2023 , the average length of stay for international tourists in Singapore was 3.3 days . 3  
• In 2019 , international tourists typically spent an average of 3.4 days exploring the city-state. In 2020 , the average duration increased to 4.3 days . The following year, in 2021 , indicated an unusual boost with the average length of stay soaring to 22.4 days , likely influenced by changing travel conditions due to the COVID-19 pandemic. However, the trend adjusted back towards the norm by 2022 , with the average visitor stay landing at 5 days . 3

What are the top destinations to visit in Singapore?

Singapore, known for its innovative architecture, green spaces, and diverse population, this region has something for everyone. Here are the top destinations 4 to explore in Singapore.

• Gardens by the Bay – This futuristic nature park is home to the world’s tallest indoor waterfall. It’s a magical experience for nature lovers and photographers.
• Sentosa Island – This fun island resort is perfect for families and adventure seekers. From Universal Studios Singapore and the Adventure Cove Waterpark to the S.E.A. Aquarium , beaches, and golf courses, it has it all.
• Singapore Zoo and Night Safari – Famous for its ‘open’ captivity concept, the zoo houses more than 2,800 animals. The zoo emphasises conservation and education, it offers unique experiences like the Night Safari.
• Singapore Botanic Gardens – A UNESCO World Heritage site, offering lush landscapes, walking trails, and the world’s largest orchid collection.
• Merlion Park – The park presents a stunning view of the cityscape, making it a favourite spot for travellers.

What are the main reasons people visit Singapore?

• In 2019 , Singapore attracted 19.1 million international tourists. The main reason tourists visited Singapore was for leisure and holidays, representing 57.70% . 3  
• Visits to friends and relatives accounted for 14.53% , illustrating Singapore’s diverse global community. 3
• 12.96% of visitors came to Singapore for business purposes, showcasing its appeal to professionals and entrepreneurs worldwide. 3
• 14.81% of tourists visited Singapore for various other reasons, including education, medical tourism, or simply as a transit point, benefiting from Singapore’s excellent global connections and facilities. 3

Due to the COVID-19 pandemic, data for 2020, 2021, and 2022 are unavailable.

Singapore Outbound Tourism Statistics

• Outbound travel from Singapore hit an all-time high in 2019, with residents taking 10.7 million outbound trips and spending SGD 9.45 billion ( 7.09 billion USD ) that year. 2
• However, 2020 brought a stark change due to COVID-19, drastically reducing travel to just 1.5 million trips and dropping spending to $7.09 billion . The downward trend continued into 2021, with trips decreasing further to 833,000 and spending to $4.14 billion. 2  
• But Singapore witnessed an exceptional surge in international travel with departures increasing by 5.2 million , and spending rose to $15.29 billion in 2022. 2 Continuing this positive trajectory, 2023 saw 9.4 million 1 Singaporeans travelling abroad.
• The top destinations for Singaporean travellers abroad continually include Malaysia , Indonesia , Thailand , China , and Japan . 5

Travel Statistics Resources

• Canada Statistics
• Dubai Statistics
• France Statistics
• Germany Statistics
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• Iceland Statistics
• Italy Statistics
• Norway Statistics
• Portugal Statistics
• Spain Statistics
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• United Kingdom Statistics
• United States Statistics
• DOS : Singapore’s International Visitor Arrivals – Air ↩︎
• UNWTO : Tourism Statistics – Global and Regional ↩︎
• Stan : Singapore’s Tourism Statistics – Monthly, Quarterly, Annually ↩︎
• SGT : Singapore Top Tourist Attractions ↩︎
• GlobalData : Travel & Tourism in Singapore – Outbound Destination ↩︎

19 Key Singapore Tourism Statistics in 2023

Discover the remarkable resurgence of Singapore's tourism in 2023. Explore 19 key statistics revealing a thriving industry poised for a bright future.

Shane Duggan

Shane is a full-time software developer and Founder of Lookup SG.

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As a passionate traveler and someone deeply interested in the world of tourism, I couldn't help but dive into the latest statistics on Singapore's tourism scene for 2023. 

The numbers are not just impressive, they reveal a fascinating story of resilience and recovery in the wake of the pandemic. 

In this blog post, we'll explore the 19 key Singapore tourism statistics for 2023 and uncover the exciting insights they offer.

The top 19 Singapore tourism statistics at a glance

• Singapore's international visitor arrivals (IVA) reached 6.3 million in 2022, exceeding expectations, and visitor numbers are expected to double in 2023, reaching up to 14 million visitors  [source ]
• In the first quarter of 2023, Singapore welcomed more than 2.9 million visitors, which is about two-thirds of pre-Covid-19 numbers  [source ]
• The recovery of the tourism sector continues, and Singapore's tourism industry is on track for a full recovery by 2024  [source ]
• The number of visitors to Singapore who came here stayed longer in 2023, with an average of 3.97 days, up from 3.34 days in 2019  [source ]
• International visitor arrivals to Singapore are expected to hit 12 million to 14 million in 2023, with full tourism recovery expected by 2024  [source ]
• Tourism receipts are also anticipated to climb to $18 billion to $21 billion in 2023  [source ]
• Singapore's top visitor markets comprise of Indonesia, India, and Malaysia  [source ]
• The Singapore Tourism Board (STB) is helping the tourism sector ramp up hiring to support the pace of recovery, and as of September 2022, about 65,000 people, or around 78% of the figures in 2019, were employed in the industry  [source ]
• Singapore's tourism sector saw strong growth in 2022, with 6.3 million international visitors spending between S$13.8 billion and S$14.3 billion, half of 2019's tourism receipts  [source ]
• Singapore's tourism industry is expected to recover to pre-pandemic levels next year  [source ]
• The STB is launching a guide to help attractions digitalize and transform their key business functions such as customer service, sales, and marketing  [source ]
• The STB is also funding TV and film projects that spotlight and market Singapore to global audiences, receiving funding for up to 30% of the costs, including production and marketing expenditures  [source ]
• Singapore's tourism industry is expected to contribute significantly to the country's GDP in 2023  [source ]
• The STB is working to promote Singapore as a leading business and leisure destination for post-pandemic travelers  [source ]
• Singapore's tourism industry is expected to create many job opportunities in 2023  [source ]
• Singapore's tourism industry is expected to continue to grow in 2023, with many events planned throughout the year, such as Art SG, Southeast Asia's largest art fair  [source ]
• Singapore's tourism industry is expected to benefit from the country's high vaccination rate and strict safety measures  [source ]
• Singapore's tourism industry is expected to benefit from the country's reputation as a safe and clean destination  [source ]
• Singapore's tourism industry is expected to benefit from the country's strong digital infrastructure, which allows for easy access to information and booking services  [source ]

Now, let's dive in.

Singapore's Spectacular Arrival Numbers

Singapore has always been a magnet for travelers, but the numbers for 2023 are nothing short of astonishing. 

International visitor arrivals (IVA) reached a staggering 6.3 million in 2022, exceeding all expectations. Even more jaw-dropping is the projection for 2023 - a whopping 14 million visitors! 

It's a clear sign that Singapore's allure remains strong and is drawing in travelers from around the globe.

Post-Pandemic Recovery

In the first quarter of 2023, Singapore welcomed over 2.9 million visitors, a milestone that's about two-thirds of pre-Covid-19 levels. This promising resurgence suggests that the travel industry is on a path to reclaim its pre-pandemic glory. 

With visitor numbers rising steadily, Singapore's tourism sector seems well on its way to a full recovery by 2024.

Longer Stays and Bigger Spending

Here's an interesting shift - visitors to Singapore are staying longer in 2023, with an average of 3.97 days, up from 3.34 days in 2019. This means that travelers are not just passing through but are opting for more immersive experiences. And they're not shy about opening their wallets either. Tourism receipts are anticipated to climb to a substantial $18 billion to $21 billion in 2023. Travelers are not just exploring Singapore; they're contributing significantly to its economy.

Leading Visitor Markets and Job Creation

Singapore's top visitor markets comprise Indonesia, India, and Malaysia. This data reveals the importance of neighboring countries in sustaining Singapore's tourism sector. The Singapore Tourism Board (STB) is playing a pivotal role in this recovery. It's helping the tourism sector boost hiring efforts, with approximately 65,000 people employed in the industry as of September 2022, accounting for nearly 78% of pre-pandemic figures.

The STB's Initiatives

STB's Innovative Initiatives

The STB isn't just sitting back and watching the numbers rise; it's actively driving change. It's launching a guide to aid attractions in digitalizing and transforming their key business functions. This includes enhancing customer service, sales, and marketing efforts. 

Furthermore, the STB is fueling TV and film projects that showcase Singapore to global audiences. By providing funding for up to 30% of production and marketing expenditures, it's amplifying Singapore's visibility on the global stage.

Economic Significance and Growth Prospects

In 2023, Singapore's tourism industry is not just a source of wanderlust; it's also a significant contributor to the country's GDP. The sector's potential for growth is immense, with a range of events planned for the year, including Art SG, Southeast Asia's largest art fair. 

These events are set to attract even more visitors and stimulate the economy.

Factors in Singapore's Favor

Singapore's strong vaccination rate, strict safety measures, reputation as a safe and clean destination, and robust digital infrastructure all work together to benefit its tourism industry. 

These factors provide travelers with confidence and convenience, making Singapore an attractive destination in a post-pandemic world.

In conclusion, the 19 key Singapore tourism statistics for 2023 reveal a promising and resilient sector. The numbers tell a story of recovery, adaptability, and innovation in the face of adversity. 

As travelers, we have much to look forward to as Singapore continues to evolve as a top-notch destination. So, pack your bags and get ready to explore the Lion City – it's a journey filled with excitement and opportunity. 

Singapore is back, and it's more captivating than ever!

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Follow our news, recent searches, welcome to singapore: up to 6 million visitors expected this year as recovery gains momentum, advertisement.

Singapore received 1.5 million visitors in the first half of 2022, an increase of nearly 12 times compared to the same period last year.

People are seen at Changi Airport in Singapore. (Photo: AFP/Roslan Rahman)

Rachel Chan

SINGAPORE: Visitor arrivals to Singapore are expected to increase to between 4 million and 6 million this year as global travel picks up pace, said the Singapore Tourism Board (STB) on Thursday (Jul 14).

The projection comes amid the easing of COVID-19 related border restrictions globally, and pent-up demand for travel.

Latest figures showed that Singapore logged 1.5 million visitor arrivals in the first half of the year, nearly 12 times more compared to the same period in 2021.

Indonesia, which accounted for 282,000 arrivals, was the top source of visitors, followed by India (219,000), Malaysia (139,000), Australia (125,000) and Philippines (81,000).

Together, they accounted for 56 per cent of Singapore's visitor arrivals between January and June 2022.

STB also said that the average length of stay for visitors more than doubled in the first half of 2022 – at about 7.1 days compared to 3.4 days in 2019.

Singapore’s cruise industry set to return to pre-pandemic levels between 2023 and 2024: STB

Going virtual: COVID-19 pushes tourism players, visitors to adapt to a new reality

"strong pent-up demand".

Singapore's tourism industry has been battered by the COVID-19 pandemic.

With borders around the world closing and authorities putting up travel restrictions to curb the spread of COVID-19, Singapore's visitor arrivals plummeted more than 80 per cent year-on-year to 2.7 million in 2020, and plunged further to 330,000 visitor arrivals in 2021. 

In 2019, Singapore hosted a record 19.1 million visitors , and tourism receipts amounted to S$27.7 billion.

The tourism board said that it continues to expect that tourism flows will recover to pre-COVID levels by the mid-2020s.

“The encouraging growth in visitor arrivals and tourism receipts signals strong pent-up demand, and underscore Singapore’s continued appeal as a vibrant and attractive destination for leisure and business travellers," said STB chief executive Keith Tan.

"While the pandemic is certainly not over yet, we are confident that Singapore’s very rich calendar of events, as well as new and refreshed tourism offerings, will continue to attract visitors for the rest of 2022 and beyond."

Singapore's roster of events includes the Formula 1 Singapore Airlines Singapore Grand Prix 2022 , Tour de France Singapore Criterium and Sail Grand Prix. 

Tourism receipts reached an estimated S$1.3 billion in the first quarter of 2022, a 213 per cent year-on-year increase over the same period last year. Visitors from Indonesia were the top spenders, followed by India and China.

Looking ahead, STB said that the tourism sector may face some headwinds for the rest of the year because of the volatile global political and economic environment, as well as the evolving health situation.

"STB will continue to develop the tourism sector with new offerings and refreshed concepts to strengthen Singapore’s appeal as an attractive destination."

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In the business of fun: meet the people who help shape singapore’s tourism infrastructure, with strong organisational support and job rotation opportunities, these singapore tourism board employees develop critical skill sets on the job as they transform the country into an even more attractive destination.

Behind the ultra-stylish integrated resorts that are firm favourites among tourists, the sprawling Singapore Expo that plays host to some of the largest events in the region, and the Marina Bay Cruise Centre Singapore (MBCCS), one of the largest and most uniquely designed cruise terminals in South-east Asia, is a team that ensures these are not only operating at peak condition at all times, but also plans years into the future to shape Singapore’s physical tourism landscape. 

Meet the Infrastructure Planning and Management (IPM) division of the Singapore Tourism Board (STB), which oversees the operations and development of Cruise and meetings, incentives, conferences and exhibitions (MICE) infrastructure, as well as the two integrated resorts. 

Stepping out of her comfort zone to broaden her expertise in cruise infrastructure 

In her decade-long career with STB, Ms Poline Lim, 33, has undertaken different facets of the statutory board’s work, from enhancing visitor experience through technology to attracting best-in-class association conventions and a secondment to the Ministry of Trade and Industry (MTI). These opportunities enabled her to develop a broad spectrum of skill sets and insights to both leisure and business tourism.  

She took on her current Cruise infrastructure portfolio at the IPM division in 2022. As the Assistant Director of the IPM (Cruise) team, she delved into engineering and construction related work for the first time, which pushed her out of her comfort zone. 

In her role overseeing the MBCCS, Ms Lim leads a five-member team that deals with a wide range of responsibilities. From maintaining the physical infrastructure of the facility to working with the appointed cruise terminal operator to ensure smooth daily cruise operations, her team’s work is crucial to the success of the terminal. 

With Singapore's cruise sector posting a record 2 million passengers with more than 340 ship calls in 2023, the team’s primary focus is to maintain the MBCCS as a world-class terminal that can adapt to the ever-evolving needs of cruise lines while also planning ahead for the growth of the cruise industry.

“I’m not an engineer so it was challenging at the start but also very fulfilling,” she says, referring to the technical conversations about terminal structures, ship specifications, and marine navigation that have now become a part of her daily work. 

She credits her ability to navigate these uncharted waters to two factors: A strong team of specialists who are trained in engineering and construction-related fields, and close collaboration with other government agencies including JTC Corporation, Maritime and Port Authority of Singapore and Urban Redevelopment Authority.

“It may sound like a cliche but every day is a learning experience with this team. Leveraging the expertise of my team and other agencies, I am able to learn and appreciate the technicalities involved in my work to make informed recommendations on the planning of our cruise infrastructure,” says Ms Lim, who has also attended courses in facility management and land use planning with her team to strengthen her capabilities. 

Ms Lim’s team is already looking ahead to 2050, having started preliminary discussions on supporting infrastructure required to help the cruise industry reach its net-zero emissions goal. 

Gaining experience and confidence to elevate Singapore’s MICE scene 

Like Ms Lim, Mr Bryan Law has benefited greatly from on-the-job learning. Combined with various job rotation opportunities, the 34-year-old has been fully exposed to different behind-the-scenes functions of the tourism industry.

Before joining STB as a full-time staff within the Integrated Resorts team in 2017, Mr Law gained valuable experience through internships with the Visitor Experience Centre, Formula 1 (F1) and Sports Business and Partnership divisions. These provided him with insights into both visitor-facing and industry-related aspects of STB’s work. 

While he has always been passionate about tourism, having pursued his tertiary education in Leisure and Resort Management, Mr Law initially felt a bit uncertain in navigating policy matters related to the industry, such as manpower and land issues. However, he credits STB’s strong mentorship culture, where experienced colleagues readily share their knowledge and guide newer team members. This supportive environment, coupled with ample opportunities for cross-functional collaboration, has been instrumental in his professional growth. 

“Once I had built up the confidence, I was able to keep up with the pace of work and contribute in a bigger way towards my team and the organisation,” he says. 

During his earlier stint as a Senior Manager with the IPM (Integrated Resorts) team, Mr Law took up career development opportunities within the board, which included a short stint with the Exhibitions & Conferences team which oversees the growth of large-scale business events in Singapore. This was instrumental when he was later promoted to Assistant Director of IPM (MICE). 

As portfolio lead, he oversees the ongoing management and maintenance of Singapore Expo, the country’s largest MICE venue, while also working with privately-owned MICE facilities such as the Suntec Exhibition & Convention Centre, in an effort to maintain Singapore’s position as a top MICE destination of choice within the region.

He has also led the team to work with Singapore Expo to introduce leisure offerings, such as new food and beverage options, a sports hall as well as an entertainment facility, to enhance its attractiveness as a MICE venue. 

Looking ahead, Mr Law’s team is focused on ensuring all six purpose-built MICE venues in Singapore, including Raffles City Convention Centre, Resorts World Convention Centre and Sands Expo & Convention Centre, obtain internationally or nationally recognised sustainability certifications (or both) by 2025. An example of this is working with Singapore Expo to install Singapore’s largest single-site solar rooftop that generates renewable energy to power the venue’s operations. 

This initiative is a part of the MICE Sustainability Roadmap, an initiative by STB and the Singapore Association of Convention & Exhibition Organisers & Suppliers which aims to raise sustainability standards across Singapore’s MICE industry over the next few years. 

Finding fulfilment through diverse roles and job rotations 

Another key member of STB’s IPM team developing the country’s tourism offerings is Mr Darren Leow, 36, an Assistant Director with the IPM (Integrated Resorts) team.

His journey at STB has been marked by exposure to diverse roles and opportunities, which has contributed to his professional growth and given him a comprehensive understanding of the organisation’s multifaceted work. This includes an overseas posting to the STB regional office in Mumbai, India, and a secondment to MTI, and roles in international relations, business development and data analytics.

These rotations, he says, have given him a “sense of fulfilment”, enabling him to develop different skill sets and providing him with an in-depth knowledge of STB’s broad scope of work. 

“Because our work encompasses regulator, developer, policymaker, marketer and other roles, there’s always something new to try and learn from,” he explains.

Drawing from his wealth of experience, Mr Leow brings valuable insights to his role in the IPM (Integrated Resorts) team. He has a hand in a range of matters related to food and beverage, hotels, attractions, retail and entertainment within Singapore’s two integrated resorts, Marina Bay Sands (MBS) and Resorts World Sentosa (RWS). 

His role also involves government policy and stakeholder management, allowing him to leverage his diverse experience at STB. This is further enhanced by STB’s leadership culture, which fosters an environment where individuals are encouraged to take ownership, collaborate effectively, make sound decisions autonomously when needed and inspire others through their actions. 

Currently, his team is working closely with MBS and RWS on their respective expansions that will enrich Singapore’s tourism offerings and enhance the integrated resorts’ vibrancy and tourism appeal. 

The new world-class tourism facilities and attractions will include a 15,000-seater state-of-the-art entertainment arena and an iconic, luxury all-suite hotel at MBS with a rooftop public attraction, as well as a new waterfront lifestyle complex, Illumination’s Minion Land and Super Nintendo World at Universal Studios Singapore in RWS. 

To gain inspiration for enhancing Singapore’s integrated resort offerings and to ensure that they stay ahead of the competition, he has undertaken study trips with his team to other world-class tourism destinations, such as Las Vegas, where he had the opportunity to experience the newly opened Sphere entertainment arena. 

For Mr Leow, working at STB offers not only the immense satisfaction of shaping Singapore’s physical landscape to make it a more attractive destination but also an unexpected perk: Witnessing the behind-the-scenes planning of new lifestyle offerings and events at the two integrated resorts. 

Besides these tangible benefits, he values the strong sense of unity and shared mission at STB. This dedication to promoting Singapore as a world-class destination has fostered a strong sense of camaraderie among colleagues and an “all hands on deck” attitude towards supporting STB initiatives and events. 

This commitment is evident in the way STB staff are always ready to contribute, from volunteering to run marquee events like the Formula 1 Singapore Airlines Singapore Grand Prix to taking part in company-wide team bonding initiatives.

As Mr Leow puts it, “STB is a place where staff bring their whole selves to work – with all of our interests and energy. After all, we are in the business of fun, and passion is our brand.” 

Find out more about careers with STB here.

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Lao Economic Monitor, April 2024: Accelerating Reforms for Growth: Key Findings

A workerless assembly line at  Lao plywood factory. Labor shortages are appearing in some sectors of the economy. 

Photo: World Bank © Philippe Aramburu

Economic growth remains below 2019 levels, mainly owing to protracted macroeconomic instability. GDP growth over 2023 was an estimated 3.7%, with positive contributions from the services sector, mainly tourism, transport, logistics, and mining. High inflation caused by depreciation of the kip means that about a third of households, especially low-income families, have reduced their spending on health and education. In 2024, real GDP is projected to grow by 4%, constrained by structural challenges. Economic activity is expected to benefit from recovery in tourism, transport and logistics, and investment in the power sector and some special economic zones. Growth will remain below 2010-2019 levels, however, weighed down by macroeconomic instability, low human capital, out-migration, and a challenging business environment.

·       Depreciation and high inflation persist amid limited foreign exchange liquidity and high external debt service obligations. In 2023, the annual average official kip/US dollar exchange rate weakened by 31%. Given Laos’ high import dependence, depreciation brings changes in domestic prices. Headline inflation averaged 31% over 2023 and remains high, with food, transport, hotel, and restaurant price increases the main contributors.

·       Foreign investment increased substantially in 2023, mainly in the electricity and mining sectors. In contrast, consumption remains constrained by high inflation. Merchandise export growth is limited, affected by labor shortages and subdued external demand. Electricity sales in 2023 were tempered by low rainfall.

·       Average household incomes improved in 2023, but more than a third of families saw their nominal income growth lag behind inflation, implying a loss of purchasing power. High food inflation has undermined food security, particularly among urban families.

·       The labor market is changing in response to economic conditions, with more workers moving abroad. The number of registered Lao migrants in Thailand rose by 15% between June 2023 and February 2024. Inside Laos, people are switching from service jobs to agriculture and manufacturing. Workers are also shifting from wage jobs and unpaid family work to self-employment and family businesses. Labor shortages have appeared in some sectors. 

·       Improved revenue collection has offset increased public spending but, due to interest payments on debt, the overall fiscal balance is estimated at a deficit of 0.2%. Public and publicly guaranteed debt is estimated to have remained above 110% of GDP in 2023, largely reflecting the kip’s depreciation. Deferrals of principal and interest on debts owed to China amounted to about $2 billion (about 15% of GDP at the 2023 rate) between 2020 and 2023. Nevertheless, residual interest and principal payments on debt were still worth 5% of GDP. Access to international capital markets has deteriorated with the loss of access to the Thai bond market in September 2023. The government now relies more on domestic financing sources.

·       Official balance of payments data show net foreign exchange inflows of about $250 million in the first three quarters of 2023, supported by large investment inflows. Recent moves to implement repatriation and conversion of export proceeds from mining, power, agriculture, and service sectors may bring more foreign currency into the economy in the short-run but could be counter-productive if they deter future investment or lead to misreporting.

·       In 2024, real GDP is projected to grow by 4%, constrained by structural challenges. Economic activity is expected to benefit from recovery in tourism, transport and logistics, and investment in the power sector and some special economic zones. Despite the slight uptick this year, growth will remain below pre-COVID levels, weighed down by macroeconomic instability and structural constraints such as low human capital, labor shortages, and a challenging business environment.

·       Reflecting persistent depreciation pressures, inflation is expected to remain above 20%, continuing to exert pressure on real incomes. This will affect household real incomes and restrain progress on poverty reduction.

·       Restoring macroeconomic stability requires a strong commitment to five critical reform areas: (i) implementing the restored VAT rate of 10%, curbing tax exemptions, and reforming excise taxes, to boost spending on social sectors; (ii) expediting ongoing debt renegotiations and strengthening public debt management; (iii) managing risks from contingent liabilities related to state-owned enterprises and public-private partnerships; (iv) strengthening financial sector stability; and (v) improving the business environment to promote investment and exports. In addition, improving the availability, timeliness, and quality of data is essential for informing evidence-based policy making.

Part B: Education for Growth and Development

·       Strong human capital and education are fundamental to putting Laos on a sustainable high-growth trajectory. Human capital constitutes only 57% of the country’s total wealth compared to 63% of the total wealth of nations globally. Education — and the skills it confers — is fundamental to improving human capital, individual well-being, and economic growth. Since learning is cumulative, weak foundational skills in early life mean low skills in later life. However, primary education is no longer universal in Laos: an increasing number of children are dropping out and those who stay are not learning. A 2019 Grade 5 learning outcomes assessment showed Lao children lagging behind those in neighboring countries in math, reading and writing. This has follow-on effects for subsequent education levels, with enrolment rates measurably below benchmarks, and dropout rates high. Most Lao secondary students score below expected levels, especially in mathematics and science.

·       Successful school systems require effective teachers and adequate financing. In Laos, teachers lack content knowledge as well as pedagogical skills. Various assessments indicate that Lao teachers do not appear to have received sufficient training. An imbalance in the distribution of teachers across education levels, geographical locations, and schools causes further problems. Moreover, public education funding has fallen in real terms since 2018. The 2023 budget allocation for education was 38% down on the 2013 figure.

·       For learning outcomes to improve, sector funding and teacher skills must increase. The education sector needs urgent re-prioritization, with increased budget allocation in real terms and with the right mix of inputs as a basis for quality teaching. This includes higher and more efficient investment in teacher training, learning, and teaching materials. In parallel, the education sector should prioritize service delivery and balance the allocation of teachers across education levels and schools. While addressing these critical supply-side issues, Laos should also look to create incentives in the form of jobs and entrepreneurship opportunities. These would encourage families keep children enrolled in school.

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Singapore’s tourism sector recovers strongly in 2022, visitor numbers expected to double in 2023

International arrivals exceed forecast to hit 6.3 million, tourism receipts reach an estimated $14 billion amid growing demand

Singapore, 17 January 2023 – Singapore’s international visitor arrivals (IVA) reached 6.3 million in 2022 (~33 per cent of 2019 IVA), exceeding STB’s forecast of between 4 and 6 million visitors. Tourism receipts (TR) are estimated to reach $13.8 to $14.3 billion[1] (~50 per cent to 52 per cent of 2019 TR). Barring unexpected circumstances, tourism activity is now expected to recover to pre-pandemic levels by 2024.

Mr Keith Tan, Chief Executive, Singapore Tourism Board (STB), said: “Our 2022 tourism performance underscores Singapore’s appeal as a leading business and leisure destination for post-pandemic travellers. To sustain our growth in 2023 and beyond, we will expand our partnerships, build up a rich year-round calendar of events, ramp up investment in new and refreshed products and experiences, and continue to support industry efforts to build the capabilities they need to meet consumer demands.”

2022 Tourism Performance

Visitor arrivals were driven by strong demand from Singapore’s key source markets, led by Indonesia (1.1 million), India (686,000) and Malaysia (591,000).

TR reached $8.96 billion between January to September 2022. The top TR generating markets were Indonesia, India and Australia, which contributed $1.1 billion, $704 million, and $633 million respectively in TR (excluding Sightseeing, Entertainment and Gaming)[2].

Visitors are also spending more time in Singapore compared to before the pandemic. For the last three quarters of the year (April-December 2022) when Singapore no longer required quarantine for fully-vaccinated travellers, the average length of stay was approximately 4.81 days[3]. This is a significant increase compared to 3.36 days for the same period in 2019.

Key Industry Performance

MICE and Leisure Events

The resumption of MICE[4] events picked up pace in 2022, following the easing of border restrictions and safe management measures.

Marquee international events returned to Singapore, including Food and Hotel Asia – Food & Beverage and Food and Hotel Asia – HoReCa, which took place as two dedicated trade shows for the first time, ITB Asia, and Singapore Fintech Festival, which attracted a record turnout from over 115 countries. STB also secured new events like FIND: Design Fair Asia as well as Global Health Security Conference 2022 and the 14th World Stroke Congress, which reinforced Singapore's leadership in key industry clusters.

Singapore’s calendar of leisure and sporting events also recovered strongly. The Formula 1 Singapore Airlines Singapore Grand Prix 2022 – held after a two-year hiatus – drew a record attendance of 302,000; the Tour de France Prudential Singapore Criterium also made its Southeast Asian debut. Regular crowd-pleasers such as the Singapore Food Festival, Christmas Wonderland, Christmas on A Great Street at Orchard Road, the Marina Bay Singapore Countdown and ZoukOut Singapore were all organised successfully and drew visitors from around the world.

Hotels Industry Performance

Singapore’s hotel industry also posted an encouraging year due to stronger demand for leisure and business travel. From April to December 2022[5], the Average Occupancy Rate (AOR) was 79.1 per cent, compared to 87.3 per cent recorded in the same period in 2019. Average room rates during this period increased by 17 per cent to $260, while Revenue per Available Room (RevPAR) increased by 6.2 per cent to $206.

Singapore welcomed a total of 465 new keys in 2022 with the opening of new hotels like the Citadines Connect City and Garden Pod @ Gardens By The Bay Centre. New brands like Hotel Telegraph (formerly known as SO Singapore), Pullman Singapore Orchard (formerly known as Grand Park Orchard), voco Orchard Singapore (formerly known as Hilton Singapore at 581 Orchard Road) and Vibe Hotel Singapore Orchard (formerly known as Elizabeth Hotel) were also introduced. These investments underscored the private sector’s confidence in Singapore’s tourism prospects.

Cruise Industry Performance

Singapore’s position as a regional cruise hub strengthened in 2022 with more than 230 ship calls. Passenger throughput was 1.2 million, which is about two-thirds of pre-pandemic levels in 2019. The return of cruising was supported by the year-round deployment of Resorts World Cruises’ Genting Dream and Royal Caribbean International’s Quantum/Spectrum of the Seas . Following the resumption of sailings with ports of call in July, two new cruise lines made Singapore their seasonal homeport[6]:

·       STB’s new three-year partnership with Silversea Cruises will see its ships homeport seasonally in Singapore till the 2024/2025 season, with Silver Muse kicking off the first sailing from Singapore in December 2022.

·       TUI Cruises' Mein Schiff 5 also returned to Southeast Asia in December 2022, starting their three-year seasonal homeport from Singapore and taking passengers to ports in Southeast Asia.

Singapore also welcomed the return of transit and turnaround sailings[7] from Cunard, Seabourn Cruises, Viking Cruises, Oceania Cruises and Regent Seven Seas Cruises in 2022.

2022 Highlights

Branded Collaborations and Strategic Partnerships

To keep Singapore top-of-mind and rebuild demand, STB scaled up its SingapoReimagine campaign across 17 markets. It also increased Singapore’s appeal to consumers through innovative partnerships.

For example, STB collaborated with media and entertainment companies such as Warner Bros. Discovery and Studio Dragon, as well as celebrities Billie Eilish, Charlie Puth and Jackson Wang to inspire travel to Singapore through authentic and creative storytelling. STB also forged strategic partnerships with industry leaders such as Singapore Airlines, Scoot, CapitaLand, Expedia, Klook and Visa to promote Singapore, exchange insights and enhance the visitor experience.

Enhanced Destination Attractiveness

Singapore welcomed new and enhanced experiences, including the Children’s Museum Singapore; Avatar: The Experience at Gardens by the Bay; Sentosa’s Night Luge, Scentopia, Wings of Time and Central Beach Bazaar; a new gallery at ArtScience Museum’s Future World: “ Exploring New Frontiers” ; A Minion’s Perspective Experience at Resorts World Sentosa; Mr Bucket Chocolaterie at Dempsey; and the Singapore Night Safari’s new amphitheatre and refreshed Creatures of the Night show. The Changi Bay Park Connector and the Rifle Range Nature Park were also opened, strengthening Singapore’s attractiveness as a City in Nature.

Singapore’s tour operators continued to introduce new and innovative tours, including the Seadog Kayak Sailing Tour by Kayak Fishing Fever, Letters From Blakang Mati by Woopa Travel as well as Hawker Fare: Little India Street Food Tour.

Becoming an Urban Wellness Haven and a Top Sustainable Destination

To meet increasing demand for holistic wellness offerings, STB organised the inaugural Wellness Festival Singapore (WFS) in June 2022, which featured over 130 wellness activities and experiences over 10 days. STB also inked a partnership with global wellness platform ClassPass, onboarding more than 90 new wellness businesses across 167 locations.

To make wellness a key component of Singapore’s tourism offerings, STB launched an Expression-of-Interest (EOI) in November to develop a wellness attraction on the southern coast of Singapore.​

STB also made strides to help the tourism sector become more sustainable. A destination sustainability strategy for the tourism sector was developed in 2022 in line with the Singapore Green Plan 2030 and our ambition to become a sustainable urban destination. Industry-specific roadmaps were developed for hotels[8] and the MICE ecosystem[9], while the Tourism Sustainability Programme[10] was launched to support tourism businesses in all stages of their sustainability journey.

2023 Outlook

STB expects the tourism sector to continue its growth momentum this year, on the back of increasing flight connectivity and capacity, and China’s gradual reopening. International visitor arrivals are expected to reach around 12 to 14 million visitors, bringing in approximately $18 to 21 billion in tourism receipts – around two-thirds to three-quarters of the levels in 2019.

In the meantime, STB will continue efforts to increase Singapore’s destination attractiveness. STB will support the development of new and refreshed offerings in 2023, such as Bird Paradise @ Mandai Wildlife Reserve, and new experiences in Orchard Road such as the Trifecta integrated sports facility.

To support tourism recovery, STB will front load $110 million of the $500 million set aside for Singapore’s tourism recovery to ramp up business and leisure events over these two years.

STB will continue to attract more high-quality MICE events, such as the Herbalife APAC Extravaganza 2023 and the 25th World Congress of Dermatology 2023. On the leisure events front, 2023 has already kicked off strongly with Art SG, Southeast Asia’s largest ever art fair as part of the Singapore Art Week, and Sail GP, which made its Asian debut last week. New events like the Olympic Esports Week and Professional Triathletes Organisation Asian Open will also take place in Singapore for the first time.

To increase Singapore’s mindshare, STB will ramp up the SingapoReimagine campaign in all our key markets through creative activations, content and partnerships. This will be augmented by the SingapoReimagine Marketing Programme (SMP)[11] to help local tourism and lifestyle businesses promote Singapore while also raising their marketing capabilities. 

To support the pace of recovery, STB will continue to help the tourism sector ramp up hiring. As of September 2022, the total tourism workforce is around 65,000 – about 78 per cent of 2019 levels. STB will continue to support manpower needs through the Tourism Careers Hub, which has placed more than 500 workers in the tourism sector since its launch in 2022 by providing career coaching, skills upgrading and job matching. STB will also continue to support digital transformation for the industry through Tcube[12], which has already helped more than 1,000 local tourism companies through its various programmes.

Please refer to Annex for International Visitor Arrivals (IVA) and Tourism Receipts (TR) from 2019-2022.

Please download the STB Year-in-Review presentation deck from this link.

[1] These are preliminary estimates for 2022.  The final figure will be available in 2Q 2023.

[2] In line with previous practices, STB excludes Sightseeing, Entertainment & Gaming in the country analysis due to commercial sensitivities.

[3] Figures are updated as at 17 Jan 2023.

[4] Meetings, Incentives, Conventions and Exhibitions (MICE)

[5] Figures for the hotel industry are updated as at 17 Jan 2023.

[6] A homeport refers to the port at which a cruise ship is based, and is where a cruise itinerary begins and ends. Year-round homeports are perennial, while seasonal homeports last only for a few months, typically during the summer. 

[7] A transit sailing indicates that Singapore is a port of call in an itinerary that begins and ends at another port. A turnaround sailing is one that begins at another port of call but ends its itinerary in Singapore.

[8] The  Hotel Sustainability Roadmap  was jointly launched by STB and Singapore Hotel Association (SHA) in March 2022.

[9] The  MICE Sustainability Roadmap  was jointly launched by STB and Singapore Association of Convention & Exhibition Organisers & Suppliers (SACEOS) in December 2022.

[10] The  Tourism Sustainability Programme  was developed to strengthen the tourism sector's foundation in sustainability.

[11] The  SingapoReimagine Marketing Programme  is a S$8 million programme, which was launched in September 2022, to supports local businesses across tourism and lifestyle industries to promote Singapore and recapture international demand.

[12] Tcube, or the Tourism Technology Transformation Cube, is a hybrid innovation space that brings STB’s digital initiatives, resources and thought-leadership content onto a single platform to support our sector’s digital transformation. For more information, visit  https://go.gov.sg/tcube

About the Singapore Tourism Board

The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.

More: www.stb.gov.sg or www.visitsingapore.com | Follow us: facebook.com/STBsingapore  or linkedin.com/company/singapore-tourism- v.sg/tcube

About the Organisation

What industry does your organization fall within, what best describes the key intent of the project that your organisation is seeking funding for, is your organisation a singapore-registered legal entity, is your organisation an association, is the project able to achieve one or more of the following outcome.

• Increase no. of sailings to/from Singapore
• Increase no. of foreign cruise passengers to Singapore through sailings to/from Singapore
• Increase no. of pre/post nights for cruise passengers sailing to/from Singapore
• Increase capability of industry players via cruise-specific industry training programmes
• Strengthen the potential/ attractiveness of cruising in Singapore and/or Southeast Asia

Is the project able to achieve one or more of the following?

• Improve visitor satisfaction (especially foreign visitors)
• Increase footfall
• Increase revenue
• Significant branding and PR value

Is the project able to attract foreign visitors and contribute to foreign visitors' spend?

Who will be the main target audience of your project, is your project innovative and/or a new event in singapore with tourism potential, what best describes your project, does the event have proven track records in singapore or overseas, and/or growth in tourism value such as growing foreign visitorship, and/or enhancement of precinct vibrancy etc, does the project have a clear tourism focus (e.g. tourism-related trainings, tourism companies taking on capability development initiatives or technology companies creating technology products and services for the tourism businesses), what best describes your market feasibility study project.

Based on your selection, the following STB grant/s may be applicable for your project:

Please note that projects that have commenced prior to Singapore Tourism Board's offer may not be eligible for grant support. Examples where projects are deemed as having commenced include:

• Applicant has started work on the project e.g. tender has been called.
• Applicant has made payment(s) to any supplier, vendor or third party.
• Applicant has signed a contractual agreement with any supplier, vendor or third party.

Travel, Tourism & Hospitality

Industry-specific and extensively researched technical data (partially from exclusive partnerships). A paid subscription is required for full access.

• Tourism receipts Singapore Q1 2019-Q2 2023

Tourism receipts in Singapore from 1st quarter 2019 to 2nd quarter of 2023 (in billion Singapore dollars)

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October 2023

Q1 2019 to Q2 2023

1 Singapore dollar is equal to 0.74 U.S. dollars and 0.68 euros as of November 2023.

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