In 2023, Singapore's international tourism receipts stood at 23.394 billion USD. The period from 2013 to 2023 saw significant fluctuations, with a notable drop in 2020 due to global disruptions. However, the market rebounded quickly, evidenced by the 65.16% increase from 2020 to 2021. The year-on-year growth in 2023 was 2.52%, reflecting a stabilizing trend. The 5-year Compound Annual Growth Rate (CAGR) leading up to 2023 was 2.76%.
Future trends to watch for include a stable annual growth rate, with the forecasted 5-year CAGR at 1.93% from 2024 to 2028. Strategic investments in tourism infrastructure and marketing could further enhance Singapore's attractiveness as a tourism destination, leading to sustained growth in international receipts.
Latest reports
US Tourism Market Report- Q4 2024
The US tourism industry experienced significant dynamism in the fourth quarter of 2024, driven by various economic, regulatory, and consumer behavior factors. This...
China Tourism Market Report- Q4 2024
In the fourth quarter of 2024, China's tourism industry continued its robust recovery, bolstered by strong domestic travel and innovative strategic initiatives. The...
Japan Tourism Market Report- Q4 2024
In the fourth quarter of 2024, Japan's tourism industry saw a robust recovery, with foreign visitor numbers reaching 33.37 million, surpassing pre-pandemic levels....
Germany Tourism Market Report- Q4 2024
In Q4 2024, Germany experienced a robust recovery in its tourism sector, driven by significant international interest and strategic initiatives across various segments....
India Tourism Market Report- Q4 2024
In Q4 2024, the Indian tourism industry experienced a dynamic shift, driven by varying market segments and external economic conditions. This period was...
UK Tourism Market Report- Q4 2024
The UK tourism industry in Q4 2024 demonstrates a dynamic environment shaped by technological advancements, economic pressures, and evolving consumer preferences. Key market...
France Tourism Market Report- Q4 2024
Q4 2024 has been a dynamic period for the tourism sector in France, characterized by evolving trends and significant regulatory developments that are...
Canada Tourism Market Report- Q4 2024
In the fourth quarter of 2024, the Canadian tourism industry shows a nuanced recovery, with a noticeable increase in domestic travel due to...
South Korea Tourism Market Report- Q1 2025
The first quarter of 2025 witnessed dynamic changes in the Tourism South Korea market, driven by various economic and geopolitical factors. Inbound tourism...
Australia Tourism Market Report- Q4 2024
The fourth quarter of 2024 showcased a dynamic period for the tourism industry in Australia, marked by significant trends in various sectors including...
