Singapore Tourism Spending Hit Record $18.8 billion in First 9 Months of 2025

Singapore’s tourism receipts hit a record S$23.9 billion (US$18.8 billion) in the first nine months of 2025, up 6.5 percent year on year, putting the destination on pace to beat its full-year forecast.

The January–September performance puts 2025 on track to exceed Singapore Tourism Board’s (STB) full-year projection of S$29–S$30.5 billion (US$22.8–24 billion), even though arrivals fell slightly short of expectations. STB said full-year 2025 receipts data will be released in the second quarter of 2026, which will confirm whether year-end travel sustained the same high-spend momentum.

Arrivals missed the target, but higher-value spend led growth

Singapore welcomed 16.9 million international visitors last year, just under the earlier projection of 17–18.5 million, as STB reiterated its “quality tourism” push—prioritizing economic value over sheer volume.

By arrivals, the top five markets were Mainland China (3.1 million), Indonesia (2.4 million), Malaysia (1.3 million), Australia (1.3 million), and India (1.2 million), with Australia up 8 percent year on year.

Receipts growth was driven mainly by sightseeing, entertainment, gaming, and food & beverage, each up 15 percent year on year.

Hotels and cruises held steady; STB sets a higher receipts bar for 2026

Hotel performance was broadly stable.

• Average room rate slipped 1 percent to S$273.56 (US$215.10),
• RevPAR edged down 0.4 percent to S$244.04 (US$191.89),
• occupancy rose to 81.9 percent, and
• 644 new hotel keys were added in 2025 alongside several notable openings.

The cruise sector also expanded, with 375 ship calls (up 10 percent) and over two million passengers (up 9 percent), supported by capacity upgrades, such as the Marina Bay Cruise Centre Singapore expansion.

Looking ahead, STB’s latest guidance targets 17–18 million arrivals and S$31.0–S$32.5 billion (US$24.4–25.6 billion) in receipts for 2026, implying another potential record if demand and higher-yield programming hold.

Photo by Zhu Hongzhi on Unsplash