The outlook for Singapore’s tourism industry in 2024 is extremely positive. The Singapore Tourism Board (STB) forecasts a strong growth in international tourist arrivals, with an estimated number of 15 to 16.5 million, and tourism revenue expected to reach between S$27.5 billion and S$29 billion. Vietnam is expected to continue to be one of the key markets, contributing significantly to the impressive growth of Singapore’s tourism industry.
Since the resumption of international tourism in 2022, Singapore’s tourism industry has seen a strong recovery. In 2023, Singapore welcomed more than 13.6 million international visitors, of which more than 458,000 were from Vietnam. In the first five months of 2024 alone, more than 155,000 Vietnamese tourists visited Singapore. These figures confirm that Singapore remains a popular destination for Vietnamese tourists. This positive trend is expected to continue throughout 2024, with the expectation of a significant increase in the number of Vietnamese tourists visiting the island nation.
Singapore is still a popular destination for Vietnamese tourists.
To continue to maintain its competitive edge, STB is focusing on promotional plans that increase engagement with fans and visitors, while expanding its reach to reach more international visitors, including the Vietnamese market. This strategy is also reinforced by the Singapore tourism industry’s commitment to consistently delivering high-quality experiences. Furthermore, to further increase its appeal to international visitors, the Singapore government has invested S$300 million in the Tourism Development Fund. This fund will be used to support businesses in the industry to enhance experiences and improve products, thereby ensuring the Island maintains its position as a top destination.
Officially launched in September 2023, the global brand campaign "Made in Singapore" attracts the attention of Vietnamese tourists by celebrating quintessential experiences in Singapore, from iconic attractions to little-known "hidden gems", and how ordinary moments are transformed into surprising experiences. In addition, STB Vietnam has collaborated with celebrities such as Gin and Puka, the Cam Cam family, Monsimi and Misoa, etc. to share authentic experiences and interesting activities in Singapore with Vietnamese tourists. Through the effort to bring a great Singapore story through the art of storytelling, the ability to identify the right target audience and improve communication effectiveness, these cooperation initiatives are all implemented consistently with the focus of STB's brand promotion strategy.
Marina Bay Sands, Singapore.
Singapore has curated and developed a range of attractive tourism and lifestyle products to appeal to visitors with different interests and passions. The recent transformation of Clarke Quay into a dynamic lifestyle hub with a dramatic transition from day to night is a prime example of the harmonious combination of rich heritage and modern appeal. In addition, the anticipation and excitement of visitors for new exhibitions such as “The World of Studio Ghibli” and “Harry Potter: Visions of Magic” further contribute to the vibrant atmosphere, promising to bring unique experiences. Mandai Wildlife Reserve will welcome Rainforest Wild and many new activities to further expand the range of experiences and conserve wildlife sustainably. These new experiences are expected to open to visitors in phases over the coming years. More details on new and upgraded attractions in Singapore can be found in Appendix A and Appendix B.
Singapore also has a host of exciting new entertainment events coming up between now and the end of the year. From global pop culture shows, lifestyle events to mega-music festivals. Locals and visitors can also look forward to popular year-end festivities such as Christmas on A Great Street, Christmas Wonderland at Gardens by the Bay and the Marina Bay Singapore Countdown. Singapore’s music scene is also set to be a blast, with upcoming performances by Korean boy band BABYMONSTER, music icon Jay Chou, “heavenly king” Andy Lau and singer Dua Lipa.
Singapore maintains its position as the "World's Best MICE City".
In addition, with the aim of affirming Singapore's position as the "World's Best MICE City", STB launched a new global marketing campaign earlier this year. As part of the campaign, the global MICE campaign film showcased Singapore's key strengths to audiences, from its ability to access new markets to its reliability, safety, innovation and sustainability. The film's content was inspired by MICE events taking place in Singapore, as well as pioneering conferences in driving positive changes, thereby affirming Singapore's leading position in key industries.
A diverse entertainment and MICE events calendar adds to the dynamism of the Island, especially as Singapore’s tourism industry continues to welcome more visitors. The rich and engaging events will help maintain its international visibility and cement Singapore’s position as an attractive entertainment and MICE destination. From colourful festivals and lifestyle programmes to business events and conferences, Singapore offers a diverse and exciting range of activities for visitors to ensure that everyone can enjoy and discover the right experience for them.
Press conference "Singapore Tourism Industry Update and Forecast 2024"
"Singapore has been constantly working to enhance the visitor experience, along with strategic partnership initiatives and creative promotional programs. These have laid a solid foundation for our destination to become more attractive to international tourists and maintain its advantage in today's increasingly competitive market. Our tourism industry looks forward to welcoming more visitors from Vietnam, inviting them to explore a unique Singapore with a unique combination of creativity, cultural identity and hospitality. With a long-term commitment in Vietnam, STB will continue to work with industry partners, including leading businesses, influencers, media agencies and more to jointly create quality tourism products and launch campaigns specifically for Vietnamese tourists. We hope to inspire many new journeys of discovery," said Ms. Serene Ng, Chief Representative of Singapore Tourism Board in Vietnam.
Looking ahead, STB is committed to driving sustainable growth and adapting to global trends. In the coming decade, rising demand for quality lifestyle experiences, growing prosperity in Southeast Asia, and technological advancements are opening up countless opportunities for the tourism industry.
