The Business Times
OUTLOOK 2024
·
SUBSCRIBERS

Singapore’s 2024 tourism performance hinges on return of China travellers

Even as flights between both countries resume, demand-side risks could stifle recovery

Elysia Tan

Elysia Tan

Published Sat, Dec 30, 2023 · 05:00 AM
    • While more flights are resuming, slower economic growth in China and high costs in Singapore could deter Chinese tourists from visiting the Republic.
    • While more flights are resuming, slower economic growth in China and high costs in Singapore could deter Chinese tourists from visiting the Republic. PHOTO: BT FILE

    SINGAPORE’S tourism recovery continued apace in 2023, with 12.37 million arrivals in the first 11 months – almost double the 6.31 million full-year 2022 figure.

    Yet, this is far from the 19.12 million visitors in pre-pandemic 2019, and market watchers said that China is the missing piece.

    Analysts expect continued recovery in 2024, but not to pre-pandemic levels. Peak months will not match the corresponding heights of 2019, said Jesper Palmqvist, area director for Asia-Pacific (Apac) at hotel industry research firm STR.

    Outlook 2024Singapore tourismTourismHospitalityHotels

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More