Singapore, January 17, 2023(AseanAll)- – The Singapore Tourism Board (STB) released a message on January 17 that it is estimated that Singapore's inbound tourists will reach 12 million to 14 million in 2023, and will recover to the pre-pandemic level in 2024.
According to the STB, 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 13.8-14.3 billion SGD(~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.
In 2022, 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).
Visitor arrivals are expected to increase to 12-14 million this year, bringing in 18-21 billion SGD from tourism spending.
STB Chief Executive Officer Keith Tan said this year, the board is hoping to get between 30-60% of visitor arrivals compared to the figure in 2019.
According to the STB, tourism contributes to about 4% of Singapore’s annual GDP. In 2019, the island state hosted a record of 19.1 million visitors and earned 27.7 billion SGD from their receipts. Up to 3.6 million of them were Chinese, the biggest source of arrivals.
