Singapore targets S$50 billion in tourism receipts by 2040; eyes Mice sector as key growth driver

The Singapore Tourism Board expects the rate of tourism spending to outpace the growth in visitor arrivals. - Photo: ST

SINGAPORE: Tourism spending in Singapore is projected to reach between S$47 billion and S$50 billion by 2040 – around 1.7 times more than 2024’s figures, Minister-in-charge of Trade Relations Grace Fu said on Friday (April 11).

In 2024, the country recorded an all-time high of $29.8 billion in tourism receipts, driven largely by visitors from top spending markets such as China, Indonesia and Australia.