SINGAPORE (The Straits Times/ANN): Jewel Changi Airport continued its strong recovery in 2024, hitting a record footfall of more than 80 million people in 2024 – the highest since its opening in 2019.
Announcing this on Jan 27, the operator of the retail and entertainment complex at Changi Airport said it saw a 10 per cent year-on-year increase in footfall from about 74 million people in 2023.
There was also a 5 per cent increase in sales in 2024, though Jewel did not provide specific sales figures for 2023, having cited commercial sensitivities then.
Jewel said the share of overseas travellers increased to 35 per cent of total footfall in 2024, with travellers from China, Taiwan, Malaysia, Australia and the Philippines making up the top five markets.
Singapore’s National Day, which fell on Aug 9, 2024, marked the busiest day for Jewel in 2024, when it achieved footfall traffic of 354,036 for the first time since 2020.
Jewel added that it welcomed one million people during the long National Day weekend from Aug 9 to 11, 2024, largely because of its celebrations and promotions.
More specifically, the mall’s retail sales per sq ft grew by 6 per cent in comparison with 2023.
James Fong, chief executive officer of Jewel Changi Airport Development, said the company is highly encouraged by the strong performance of Jewel, especially against a soft retail climate.
He added that Jewel will continue to support the business strategies of its existing tenants to expand their customer base, as well as introduce new retail experiences.
“At the same time, we also welcome new brands with unique and experiential concepts to make Jewel their home and launchpad in Singapore,” he added.
Nearly 30 new shops will be added to the mall’s tenancy mix in 2025, such as sports apparel brand Adidas, sports equipment brand Salomon, a pop-up store for game console company Nintendo and Korean restaurant Bookmagol, which will open its first outlet in Singapore.
In March, Jewel will host a two-day event organised by news platform CNBC and media company NBCUniversal for global business leaders and investors. It will include panel discussions and a gaming tournament.
To this, Fong said: “We constantly challenge ourselves to reimagine what Jewel can be – a retail paradise, tourist attraction, and now, a unique business event venue.”
He added that this signals the versatility of the development.
At present, the S$1.7 billion retail complex – a joint venture between Changi Airport Group and CapitaLand Development – houses more than 260 retail stores and restaurants.
Jewel’s steady retail performance comes on the back of Changi Airport’s rebound in passenger traffic to 99.1 per cent of the level seen before the Covid-19 pandemic, when the airport registered 67.7 million passengers.
This was due to the restoration of the scale of Changi Airport’s network, making it almost as large as its network in January 2020.
At present, there are 100 airlines operating more than 7,400 weekly scheduled flights from Changi Airport to 163 cities in 49 countries and territories around the world.
Industry experts and the authorities expect passenger traffic to exceed pre-pandemic levels in 2025.
In the mid-2030s, when the mega Changi Airport Terminal 5 is operational, the aim is for Singapore to be linked by air to more than 200 cities. - The Straits Times/ANN
