Singapore recorded an all-time high in tourism receipts for the first three quarters of 2025, with S$23.9 billion (US$18.8 billion) generated from January to September 2025, according to the Singapore Tourism Board (STB). The figure marks a 6.5% increase versus the same period in 2024 and represents the strongest nine-month performance on record for the destination.
International visitor arrivals for full-year 2025 reached 16.9 million, up 2.3% year-on-year. STB said the top five source markets by arrivals 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 delivering a record level of arrivals (+8%).
Receipts growth was led by Sightseeing, Entertainment & Gaming, and Food & Beverage, each posting 15% year-on-year growth. By spending, the top tourism-receipts markets were Mainland China (S$3.68 billion), Indonesia (S$2.09 billion) and Australia (S$1.54 billion). STB Chief Executive Melissa Ow said the strong receipts performance keeps Singapore on track toward its Tourism 2040 ambitions and supports a pipeline of differentiated products, events and experiences to sustain growth momentum.
Operating indicators were broadly stable across travel sub-sectors. The hotel industry’s average occupancy rate rose to 81.9% (from 81.4% in 2024), while ARR stood at S$273.56 and RevPAR at S$224.04. Cruise activity also strengthened, with 375 ship calls (+10%) and over 2.0 million passenger throughput (+9%), reinforcing Singapore’s positioning as a regional cruise hub.
