Singapore’s 2025 tourism receipts reach record S$32.8 billion; Mice contributes S$2.3 billion

[SINGAPORE] The Republic’s tourism industry had a record year in 2025, with 16.9 million international visitors contributing S$32.8 billion in tourism receipts, Minister for Sustainability and the Environment Grace Fu said at the Tourism Industry Conference on Friday (May 8).

This was higher than the agency’s S$29 billion to S$30.5 billion forecast, as well as its S$31 billion to S$32.5 billion projection for 2026.

Fu, who is also minister-in-charge of trade relations, attributed the performance to a strong lineup of events and experiences in the leisure segment, as well as international and home-grown events in the meetings, incentives, conferences and exhibitions (Mice) sector.

Separately, Singapore Tourism Board chief executive Melissa Ow updated that Mice tourism receipts grew by more than 35 per cent to reach S$2.3 billion, from S$1.7 billion in 2024.

Still, Fu warned: “Our strong performance in 2025 is encouraging, but we cannot afford to be complacent. There are challenges on the horizon, given the Middle East energy crisis and its knock-on impact on consumer spending.”

However, despite supply chain disruptions and rising fuel costs, she also recognised opportunities for Singapore to sharpen its value proposition and competitiveness.

Navigating challenges, furthering ambitions

To help the tourism industry capture opportunities and navigate near-term challenges, and support its Tourism 2040 ambitions, the government will inject S$740 million into the Tourism Development Fund over the next five years, she said.

The fund includes various grants under schemes for capability, event and product development. The latest round of funding more than doubles that of the previous round in 2024, when it got a S$300 million boost.

Under the Tourism Development Fund, S$5 million will be allocated to the Business Events in Singapore Grant, to expand support for businesses undertaking marketing activities aimed at building attendance.

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A new S$5 million Market Access Fund will help businesses grow their presence in new markets by reducing the financial risks of expansion.

The Hotel Rejuvenation Fund, which has supported 13 hotels in their rejuvenation efforts since its launch in 2025, will be extended by one year.

The government has also expanded the scope of STB’s Kickstart Fund, which supports the test-bedding of innovative concepts. It will now support up to S$1 million for new product pilots, up from S$250,000 per edition.

To sustain visitor demand in the challenging environment, STB is also expanding over 20 key trade partnerships across Singapore’s top 10 source. This will entail more than $20 million in total investments from STB and in-market partners.

Enhancing Singapore’s position

In her speech, Fu set out goals to elevate the city-state’s position across three areas.

First, she spoke about strengthening its role as a global hub. This means expanding and renewing capacity and connectivity.

Fu said Singapore is now assessing the feasibility of establishing an Integrated Cruise and Ferry Terminal at Straits View, which could support three cruise berths and up to 10 ferry berths.

This means a passenger capacity that is around 1.5 times the adjacent Marina Bay Cruise Centre Singapore, and twice that of the HarbourFront Passenger Terminal.

For the Mice sector, Fu updated that the Straits View area, near Marina Bay, has been identified as the potential site for a downtown Mice hub. The hub, first announced in 2025, is envisioned as an integrated development with Mice facilities, accommodation, dining and retail, entertainment, and attractions.

This will allow Singapore to host more and bigger events downtown, complementing those at other city-centre venues, Fu said. It will also be near leisure offerings including the upcoming wellness project by Therme Singapore – which will begin construction this year – and the Wetlands by the Bay expansion.

Fu also highlighted industry partnerships, such as a two-year one between STB and the Academy of Medicine Singapore for conferences, and another between 22 hotels covering 25 per cent of Singapore’s hotel room stock, to offer accommodation packages to meeting organisers.

Second, Fu talked about building “a world-class city and an endearing home”, which will require rejuvenating Singapore’s cityscape.

Key developments in this area include upgrades to its iconic tourism precincts.

The Greater Sentosa Master Plan will develop Sentosa and Pulau Brani over the next two decades into a “world-class tourism destination” attracting twice the number of visitors it does today. There will be spaces for new hotels, attractions and experiences at the 120-hectare Pulau Brani.

Fu also noted continued enhancements to Orchard Road, where the rejuvenation plan is already underway.

Finally, Fu addressed developing strong businesses and investing in human capital.

STB, with the Infocomm Media Development Authority has developed and refreshed Industry Digital Plans for the travel agents, Mice and hotel industries, which will guide them in digitalising and adopting technology solutions.

The tourism agency will also provide more streamlined funding for some pre-approved solutions under Enterprise Singapore’s Edge grant in the second half of this year, she added.

The attractions industry technology road map will be reviewed by early 2027.

Meanwhile, for the tourism workforce, companies can tap the Training Industry Professionals in Tourism Scheme. It will now fund stretch job assignments, so that companies can develop in-house leadership programmes; and customised in-house skills training for rank-and-file workers, including work permit holders.

More in the works

In her speech, STB’s Ow pointed out that while visitor arrivals held up in Q1, STB expects to see “muted demand” in the months ahead.

But she added: “(Singapore’s) solidarity and our adaptability will carry us through.”

Ow provided more details about some of the tourism developments discussed on Friday.

On the downtown Mice hub, she noted that STB will hold an industry networking session and a request for information exercise. Developers and Mice players can jointly submit bids for the request for proposal, which should be called in 2027.

And for the Greater Sentosa Master Plan, the Sentosa Development Corporation will launch design consultancy tenders in the coming months to lay the groundwork for some of the key components, Ow said.

On manpower, the chief executive highlighted the next phase of Tourism Technology Transformation, which has been refreshed as a one-stop Centre of Excellence centralising knowledge sharing and tools for digital transformation, as well as the launch of an artificial intelligence playbook for tourism.