The number of international tourists visiting Singapore may reach between 15 and 16 million in 2024, said Minister of State for Trade and Industry Alvin Tan during the Committee of Supply debates on Mar. 1, 2024.
These tourists are also expected to spend approximately S$26 billion to S$27.5 billion in tourism receipts during their time here.
These forecasted numbers were higher than the number of international visitors to Singapore in 2023, which was 13.6 million, and the amount of tourism spending in 2023 estimated by the Singapore Tourism Board (STB), which was S$24.5 billion to S$26 billion.
One factor Tan identified that may lead to more influx of tourists and higher tourism spending in Singapore this year is the mutual 30-day visa-free arrangement between Singapore and China, which came into effect on Feb. 9, 2024.
S$300 million top-up to Tourism Development Fund
While Singapore's tourism sector had "rebounded strongly" from the Covid-19 pandemic, with international artists like Blackpink and Taylor Swift staging their concerts here, Tan shared that the government will be further injecting over S$300 million into the Tourism Development Fund (TDF).
According to the minister, this will help facilitate recovery in the sector and ensure Singapore remains an attractive destination despite "intensifying global competition":
"This [fund] will [help] develop and market new products and experiences, including supporting local enterprises as they develop new intellectual properties, rejuvenate existing tourism offerings and also upskill our tourism workers."
Here, Tan also referred to some attractions and lifestyle events that were introduced under TDF previously, such as Trifecta, dubbed "Asia's first snow, surf, and skate lifestyle destination".
He also stated that the fund had helped more than 100 local tourism businesses to become "more productive and more sustainable" over the last two years.
"We encourage all companies to make use of this top-up to grow your business," added Tan.
Developing new "experiences" in Singapore
In addition to the top-up, Tan shared that the government is also "developing a pipeline of high-quality and first-of-its-kind experiences" in Singapore which will be launched in the coming years.
One such project is Sensoryscape, a 30,000-sqm pathway connecting Resorts World Sentosa (RWS) and the beaches in Sentosa, which will be soft launched in March 2024.
According to Tan, the pathway will feature "multi-sensory gardens that pick the senses" and "showcase digital light displays at night".
In 2025, residents of Singapore can also look forward to visiting "Minion Land" at Universal Studios Singapore and the new Singapore Oceanarium, which will be three times the size of the current S.E.A. Aquarium, added the minister.
"These [projects] will help us maintain international mindshare and strengthen our appeal as a compelling destination," said Tan.
Top image via Kaung Myat Min/Unsplash