Singapore sees highest-ever tourism receipts in first three quarters of 2025 | AGB
Summary
Singapore posted record tourism receipts for January–September 2025, with receipts rising 6.5% year‑on‑year to SG$23.9 billion. The Singapore Tourism Board (STB) says this performance puts the city‑state on track to surpass its 2025 full‑year projection of SG$29–30.5 billion.
Growth was driven by refreshed and new attractions (notably the reopened Singapore Oceanarium), a packed events calendar (Formula 1, major concerts, World Aquatics), several high‑profile hotel openings and strong MICE activity. Visitor arrivals for the period reached 16.9 million (+2.3% YoY), led by China, Indonesia, Malaysia, Australia and India.
STB highlighted major integrated‑resort expansion projects (including Marina Bay Sands’ SG$8 billion development), cruise terminal upgrades, and upcoming draws such as BTS shows and new cruise homeporting that underpin Tourism 2040 ambitions. STB remains cautious in its outlook due to global economic and political uncertainties.
Key Points
- Tourism receipts (Jan–Sep 2025): SG$23.9 billion, up 6.5% year‑on‑year.
- Singapore is on track to exceed STB’s 2025 full‑year projection of SG$29–30.5 billion.
- Total visitor arrivals in 2025: 16.9 million (+2.3% YoY). Top markets: China (3.1m), Indonesia (2.4m), Malaysia (1.3m), Australia (1.3m), India (1.2m).
- Events and entertainment were major drivers: F1 (300,600 attendees, +11.7% YoY), Lady Gaga, BLACKPINK and SEVENTEEN concerts generated large ticket sales and significant spend.
- Hotel pipeline and openings contributed to appeal; Singapore has 73,000+ rooms across ~450 properties, with hotel industry ≈20% of tourism receipts.
- MICE remained a spending powerhouse — Singapore ranks 3rd globally and 1st in Asia‑Pacific per ICCA metrics.
- Major infrastructure and attractions: Marina Bay Sands’ SG$8bn expansion, Resorts World Sentosa’s new offerings, Marina Bay Cruise Centre upgrade (capacity to 11,700), Porsche Experience Centre (coming 2027).
- STB’s 2026 targets: 17–18 million international visitors and SG$31–32.5 billion in receipts, with a measured outlook due to external uncertainties.
Why should I read this?
Short and sharp: if you work in tourism, hotels, events, MICE or integrated resorts in APAC, this is money‑making intel. Singapore’s 2025 run shows demand is back and spending is up — not just more visitors, but higher receipts thanks to big events, fresh attractions and IR investment. Read it to spot where revenue is coming from and what projects (and dates) will shape visitor flows this year.
Author style
Punchy: big numbers, big events, big projects. STB’s figures matter for operators and investors — this isn’t just a tourism win, it signals stronger commercial tails for F&B, hospitality and events sectors. Definitely worth a closer look if you’ve got skin in the game.