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SINGAPORE: Singapore\u2019s 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.<\/p>\n
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.<\/p>\n
“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.<\/p>\n
“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.\u00a0<\/p>\n
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.<\/p>\n
Under Tourism 2040, STB projects tourism receipts to reach between S$47 billion and S$50 billion by 2040.<\/span><\/p>\n Also speaking at the same conference, Singapore Tourism Board chief executive Melissa Ow said that Singapore welcomed 16.9 million visitors in 2025, marking progress towards its Tourism 2040 goal. \u00a0<\/p>\n The growth was driven by key achievements last year, with Changi Airport welcoming an all-time high of nearly 70 million passenger movements. Cruise traffic also exceeded two million passengers last year.<\/p>\n However, Ms Ow cautioned that demand is expected to be muted in the coming months amid global headwinds, with the conflict in the Middle East posing challenges to the tourism industry.<\/p>\n “Our tourism businesses are under strain from the crisis and the global uncertainty that persist,” Ms Ow said, adding that while visitor arrivals grew 3 per cent year-on-year in the first quarter, demand may soften in the months ahead.<\/p>\n STB projects S$31 billion to S$32.5 billion in tourism receipts this year, and between 17 million and 18 million international visitor arrivals.<\/p>\n “STB has already stepped up our efforts to support our industry partners to overcome immediate challenges. We will monitor the situation and adjust our support as needed,” Ms Ow said.<\/p>\n Against this backdrop, Singapore is pushing ahead with new developments to bolster the industry’s sector performance and resilience, she said.<\/p>\n In the cruise sector, Ms Ow said that the Singapore Cruise Centre at HarbourFront will relocate to a new purpose-built facility \u2014 adjacent to the current terminal \u2014 set to open on Jul 15, 2026.<\/p>\n The new facility will feature a dedicated VIP lounge for premium travellers and an automated baggage handling system.<\/p>\n Looking further ahead, the authorities are studying the potential development of an Integrated Cruise and Ferry Terminal to support future cruise and ferry demand.<\/p>\n<\/div>\nNEW FACILITIES FOR CRUISE SECTOR<\/h2>\n