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 as reported by CNA. The previous record was S$23.5 billion in 2024.
Alongside the strong performance, Ms Fu announced an additional S$740 million (US$582 million) in funding for the Tourism Development Fund over the next five years, building on the more than S$300 million (US$235 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.
Next chapter of growth under Tourism 2040
“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.
Under Tourism 2040, Singapore Tourism Board (STB) projects tourism receipts to reach between S$47 billion (US$37 billion) and S$50 billion (US$39 billion) by 2040.
Singapore Tourism Board chief executive Melissa Ow said that Singapore welcomed 16.9 million visitors in 2025, marking progress towards its Tourism 2040 goal.
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.
Middle East conflict causing strain to demand
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.
“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.
STB projects S$31 billion (US$24.3 billion) to S$32.5 billion in tourism receipts this year, and between 17 million and 18 million international visitor arrivals.
The tourism board is stepping up efforts to work with partners to drive demand over the short term and longer term, including by encouraging stakeholders to attract tourists from new markets, she said.
“It may not immediately yield a result, but it’s something which we’re hoping they will appreciate is critical as they build resilience and competitiveness in the mid to long term,” she said.
New facilities for cruise sector
Against this backdrop, Singapore is pushing ahead with new developments to bolster the industry’s sector performance and resilience, she said.
In the cruise sector, Ms Ow said that the Singapore Cruise Centre at HarbourFront will relocate to a new purpose-built facility — adjacent to the current terminal — set to open on Jul 15, 2026.
The new facility will feature a dedicated VIP lounge for premium travellers and an automated baggage handling system.
Looking further ahead, the authorities are studying the potential development of an Integrated Cruise and Ferry Terminal to support future cruise and ferry demand.
Ms Fu said the authorities are assessing the feasibility of locating the Integrated Cruise and Ferry Terminal at Straits View, adjacent to the Marina Bay Cruise Centre Singapore (MBCCS), as part of the broader Greater Southern Waterfront development.
The proposed terminal could accommodate three cruise berths and up to 10 ferry berths, with a passenger capacity of about 1.5 times that of the existing MBCCS and roughly double that of the HarbourFront Passenger Terminal.
“This represents not only a significant increase in international cruise capacity, but also greater regional connectivity,” Ms Fu said.
