The Singapore Tourism Board (STB) has revealed the tourism sector generated an all-time high of SG$23.9 billion (US$18.8 billion) in tourism receipts during the first three quarters of 2025 combined, representing a 6.5% increase over the same period in 2024.
The improvement included 15% year-on-year growth in “Entertainment & Gaming”, while “Sightseeing” and “F&B” were also major contributors to the country’s tourism performance.
Tourism receipts generally refer to all money spent by international tourists, covering everything from transportation and accommodation spend to food and beverage, entertainment and shopping.
“The strong tourism receipts performance in 2025 puts us on a steady trajectory towards achieving our Tourism 2040 ambitions,” said the STB’s CEO, Melissa Ow. “We are attracting visitors who value the distinctive experiences that Singapore offers. To maintain this growth momentum and reinforce our destination appeal and global hub status, we will continue to develop a strong pipeline of differentiated products, events, and experiences.”
The STB noted that Singapore remains on track to exceed its earlier projection of between SG$29.0 billion and SG$30.5 billion (US$22.8 billion and US$24.0 billion) in tourism receipts in FY25 – aided by the 16.9 million tourist arrivals confirmed throughout the year – up 2.3% on 2024 visitation.
Mainland China was the largest contributor with 3.1 million arrivals, generating SG$3.68 billion (US$2.90 billion) in tourism receipts, while there were 2.4 million arrivals from Indonesia generating SG$2.09 billion (US$1.64 billion). Australian ranked third with 1.3 million visitors who generated SG$1.54 billion (US$1.21 billion) in tourism receipts.
According to the STB, the average occupancy rate of Singapore’s hotels also grew from 81.4% in 2024 to 81.9% with average room rate of SG$273.56 (US$215). The cruise industry, meanwhile, demonstrated strong momentum with 375 ship calls, up 10%, and over 2 million passenger throughput, up 9%.
The STB said it expects international visitor arrivals to reach between 17 to 18 million in 2026, bringing in approximately SG$31.0 to SG$32.5 billion (US$24.4 billion and US$25.6 billion) in tourism receipts. It noted that those projections take a “measured approach” given global economic uncertainty and political instability affecting travel patterns globally.
“As we work towards our Tourism 2040 goals and a sustainable tourism sector, STB will continue to seek out opportunities to reach new markets and support our tourism enterprises and workforce to develop differentiated products and experiences,” Ow said.
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