STB expects Singapore’s 2025 tourism receipts to exceed pre-Covid levels, despite arrivals staying below

businesstimes

02-04

SINGAPORE’S tourist spending may beat pre-Covid levels to reach a new high in 2025, though arrival numbers might stay slightly below those of 2019, said the Singapore Tourism Board (STB) at its year-...

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06:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2508875486","market":"us","top_or_hot":-1,"title":"STB expects Singapore’s 2025 tourism receipts to exceed pre-Covid levels, despite arrivals staying below","media":"businesstimes","content":"<div>\n<p>SINGAPORE’S tourist spending may beat pre-Covid levels to reach a new high in 2025, though arrival numbers might stay slightly below those of 2019, said the Singapore Tourism Board (STB) at its year-...</p>\n\n<a href=\"https://www.businesstimes.com.sg/singapore/stb-expects-singapores-2025-tourism-receipts-exceed-pre-covid-levels-despite-arrivals-staying-below\">網頁鏈接</a>\n\n</div>\n","source":"bustime_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" 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float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSTB expects Singapore’s 2025 tourism receipts to exceed pre-Covid levels, despite arrivals staying below\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">businesstimes</strong><span class=\"h-time small\">2025-02-04 06:00</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>SINGAPORE’S tourist spending may beat pre-Covid levels to reach a new high in 2025, though arrival numbers might stay slightly below those of 2019, said the Singapore Tourism Board (STB) at its year-...</p>\n\n<a href=\"https://www.businesstimes.com.sg/singapore/stb-expects-singapores-2025-tourism-receipts-exceed-pre-covid-levels-despite-arrivals-staying-below\">網頁鏈接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://www.businesstimes.com.sg/singapore/stb-expects-singapores-2025-tourism-receipts-exceed-pre-covid-levels-despite-arrivals-staying-below\">businesstimes</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4110","symbol_name":"抵押房地產投資信託","start_time":0,"source_url":"https://www.businesstimes.com.sg/singapore/stb-expects-singapores-2025-tourism-receipts-exceed-pre-covid-levels-despite-arrivals-staying-below","article_id":"2508875486","we_media_id":null,"thumbnails":[],"rights":{"source":"bustime_highlight","url":"https://www.businesstimes.com.sg/singapore/stb-expects-singapores-2025-tourism-receipts-exceed-pre-covid-levels-despite-arrivals-staying-below","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2508875486","pubTimestamp":1738620000,"columns":[],"sourceInfo":{"source_id":"bustime_highlight","name":"The Business Times"},"weMediaInfo":null,"summary":"For 2024, tourism receipts are set to reach a new record, beating the previous S$27.7 billion high","collect":0,"end_time":0,"defaultTopTitle":"businesstimes.com.sg","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4110":"抵押房地产投资信托","ARR":"ARMOUR住宅房地产公司","BK4212":"包装食品与肉类","SEG":"SEAPORT ENTERTAINMENT GROUP INC","BK4233":"房地产运营公司","TR":"Tootsie Roll Industries Inc"},"translate_title":"STB预计新加坡2025年旅游收入将超过新冠疫情前的水平，尽管入境人数仍低于","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARR":1,"SEG":1,"TR":1},"content_text":"SINGAPORE’S tourist spending may beat pre-Covid levels to reach a new high in 2025, though arrival numbers might stay slightly below those of 2019, said the Singapore Tourism Board (STB) at its year-in-review on Tuesday (Feb 4).In 2025, Singapore is expected to receive 17 million to 18.5 million international visitors, bringing in S$29 billion to S$30.5 billion in tourist spending – which would be a record high.This is after visitor arrivals in 2024 reached 16.5 million, at the top of STB’s 15 million to 16.5 million forecast range.For 2024, tourism receipts (TR) are also on track to hit the top of the forecast range of S$27.5 billion to S$29 billion.Preliminary numbers for visitor arrivals in January 2025 have been promising across multiple markets, as flight capacity is being restored, an STB spokesperson told The Business Times.But the spokesperson added: “We remain cautiously optimistic in view of potential headwinds stemming from global geopolitical and macroeconomic climates.”Start and end each day with the latest news stories and analyses delivered straight to your inbox.The 2025 prediction for tourist arrivals is lower than the pre-pandemic 2019 record of 19.1 million visitor arrivals.However, the TR range forecast for 2025 surpasses not just 2019’s previous record, but also 2024’s expected new high.Said the STB spokesperson: “This aligns with our pursuit of quality tourism, where we prioritise growing tourism revenue and its impact on the economy.”Besides revenue, the agency focuses on enhancing Singapore’s international standing and creating good jobs for Singaporeans, the spokesperson added.Benjamin Cassim, senior lecturer for lifestyle and consumer experience at Temasek Polytechnic’s school of business, agrees with STB’s 2025 forecasts.Singapore’s focus has shifted to providing “a wide enough range of experiences” that persuade tourists to stay longer, he added.Besides increased visitor numbers, other factors behind higher TR include visitors’ greater propensity to spend, as well as rising tourism-related prices such as accommodation and attraction entry fees, he said.Going forward, he expects Singapore’s TR performance to correspond to its ability to attract the relevant market segments with experiences that are unique and “almost unavailable” in competing destinations.The 16.5 million arrivals figure for 2024 marks a 21 per cent increase from 2023, though it is only about 86 per cent of pre-pandemic 2019 levels.The top source markets were mainland China (3.1 million), Indonesia (2.5 million) and India (1.2 million). Japan, Taiwan, the UK and the US also exhibited healthy year-on-year growth, STB said, “representing a good mix of short, mid and long-haul markets”.Meanwhile, tourism receipts for 2024 are expected to reach the upper bound of STB’s forecast range, close to S$29 billion. That would will set a new record, beating the previous high of S$27.7 billion in 2019.For the first nine months of 2024, TR reached S$22.4 billion, up 10 per cent from the year-ago period. Spending grew in all categories, led by led by sightseeing, entertainment and gaming (SEG) at 25 per cent, followed by accommodation at 17 per cent.Mainland China was the top source market for spending in the nine-month period, contributing S$3.6 billion. Other top sources were Indonesia (S$2.1 billion) and Australia (S$1.4 billion). These figures exclude receipts from SEG, which is traditionally left out due to commercial sensitivities regarding the casinos.STB said the 30-day mutual visa exemption with mainland China and Singapore’s strong air connectivity growth contributed to the continued recovery in tourist arrivals.Citing figures from global travel data provider Cirium, STB said Changi Airport had a total international seat capacity of over 41 million in 2024, up 15 per cent from 2023. This represents a recovery to 98 per cent of 2019 levels.Another growth factor was Singapore’s “robust year-round calendar of lifestyle events and concerts, which has enhanced the city-state’s appeal as a premier tourist destination”, said STB.“Singapore continued to attract quality MICE (meetings, incentives, conferences, exhibitions) events, while the cruise industry saw several highlights including notable maiden calls and ships homeporting.”The city-state recorded 1.8 million passenger throughput from 340 ship calls last year.There were also new and enhanced attractions, such as the Asia premiere of the Harry Potter: Visions of Magic exhibition at Resorts World Sentosa, and the Night Safari’s new bull elephant habitat and mixed-species exhibit.The hotel industry also saw growth in 2024. The average room rate (ARR) was about S$276, up 1.4 per cent from 2023, while revenue per available room (RevPAR) grew 3 per cent to about S$226.These also surpassed 2019 levels of S$220.82 for ARR and S$191.96 for RevPAR.In 2024, the average occupancy rate was 81.8 per cent, up 1.3 percentage point from 80.5 per cent in 2023. But it remained lower than 2019’s average occupancy rate of 86.9 per cent.There were 1,421 hotel keys added in 2024, including at newly-opened hotels such as The Standard Singapore, Into the Woods and Mercure ICON Singapore City Centre.Manpower has also recovered, with the total tourism workforce rising to about 76,000 as at September 2024, up about 4 per cent from September 2023. STB said it would continue to upskill tourism workers and strengthen the competitiveness of tourism companies.To that end, it has inked a three-year partnership with NTUC LearningHub to co-develop and offer courses in key emerging areas of tourism such as sustainability, service experience excellence and technology.It has also introduced a leadership training programme to help local tourism leaders navigate emerging trends and industry disruptions.STB has also enhanced the tourist guide licensing process by developing a more compact licensing course.STB’s chief executive Melissa Ow said that its Tourism 2040 roadmap – which is in the works – will guide “the next phase of quality tourism growth for Singapore... (and) ensure Singapore continues to thrive as a world-class destination that meets the needs of the evolving global traveller”.In the agency’s vision for 2040, Singapore offers diverse, unique and inspiring experiences in a “vibrant and endearing home”. The city-state will also be a global hub of innovative and productive tourism enterprises, where companies and talents co-create sustainable tourism growth.In 2025, the Republic will see new attractions and experiences such as the official opening of Illumination’s Minion Land at Universal Studios Singapore and the opening of Rainforest Wild Asia at the Mandai Wildlife Reserve.STB also noted a robust line-up of leisure and MICE events, such as Artbox Singapore 2025; the maiden sailing of Disney Cruise Line’s Disney Adventure; and the World Accountancy Forum 2025.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}