SINGAPORE: Singapore’s tourism sector hit a new high in 2025, with receipts reaching a record S$32.8 billion (US$25.9 billion), Minister-in-charge of Trade Relations Grace Fu said on Friday (May 8). The previous record was S$29.8 billion in 2024.
Alongside the strong performance, Ms Fu announced an additional S$740 million in funding for the Tourism Development Fund over the next five years, building on the more than S$300 million injected in 2024.
“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 effects on consumer spending,” Ms Fu said at the Tourism Industry Conference 2026.
“This funding will support our ambitions under Tourism 2040, charting the next chapter of growth and ensuring that Singapore remains a compelling destination,” Ms Fu, who is also Minister for Sustainability and the Environment, said.
Among other things, the fund will allocate S$5 million to a grant meant to help businesses undertake marketing activities and build attendance for business events in Singapore. Another S$5 million will go to a market access fund to help firms grow their presence in new markets, she said.
Under Tourism 2040, STB projects tourism receipts to reach between S$47 billion and S$50 billion by 2040.
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