The Singapore Tourism Board recently released the latest tourism data, which shows that in 2023, the number of tourists visiting Singapore will reach 13.6 million, which has recovered to about 71% of the level before the epidemic; the annual tourism revenue is expected to be between S$24.5 billion and S$26 billion. It is close to about 90% of the level before the epidemic. The growth in international travel demand and the continued resumption of international flights are the main reasons for the continued recovery of Singapore's tourism industry.
Statistics show that the number of tourists entering Singapore in 2023 will increase from 6.3 million in 2022 to 13.6 million, which is within the range of 12 million to 14 million previously estimated by the Singapore Tourism Board. In terms of country of origin, the largest number of tourists came from Indonesia, with a total of 2.3 million passengers; followed by China, with a total of 1.4 million passengers; and then Malaysia, Australia and India, all with 1.1 million passengers.
Judging from the composition of Singapore's total tourism revenue, catering accounts for 15%, accommodation accounts for 16%, shopping accounts for 18%, sightseeing and entertainment account for 18%, local airline tickets, transportation, ports, medical, education and transit passengers consumption and other items accounted for 32%. Among the top ten source countries of tourism revenue, the top three are China, Indonesia and Australia, which contributed tourism revenue of S$2.327 billion, S$2.183 billion and S$1.417 billion respectively.
The Singapore Tourism Board said that due to the continuous improvement of global flight connectivity and capacity, as well as the implementation of the mutual visa exemption policy between China and Singapore, Singapore's tourism industry is expected to continue to recover in 2024, with inbound tourists continuing to increase, reaching 15 million to 16 million. , and will bring in tourism revenue of S$26 billion to S$27.5 billion.
After Singapore and China announced the implementation of the 30-day mutual visa exemption policy, searches and bookings for flights and travel packages related to Singapore and China surged. Airlines flying between China and Singapore said they were paying close attention to flight demand. And plans to increase flight frequency and routes. It is expected that during the Spring Festival of the Year of the Dragon, the number of tourists from China and New Zealand visiting each other will increase significantly, reaching the peak of tourist travel since the epidemic.
In December 2023, the number of aircraft takeoffs and landings between New Zealand and China has recovered to more than 90% compared with the same period in 2019. From March 31, 2024, Singapore Airlines will add one daily flight to and from Shanghai, and from May 1, it will add one daily flight to and from Beijing. At this point, Singapore Airlines' daily flights to and from Shanghai and Beijing will return to the pre-epidemic frequency of 5 flights per day and 3 flights per day respectively. As demand for two-way travel between New Zealand and China surges, the frequency of China Eastern Airlines flights between the two countries will significantly exceed pre-epidemic levels. Currently, China Eastern Airlines has 7 routes and 8 destinations between the two countries, with 106 round-trip flights per week, which is expected to increase to 128 during the peak period of the Spring Festival.
Statistics show that since Malaysia and China implemented mutual visa exemption measures on December 1, 2023, the number of Chinese tourists traveling to Malaysia has increased by about 40%. Singaporean tourism practitioners believe that as Singapore and Thailand implement mutual visa exemption policies with China this year, cross-border tourism between Singapore, Malaysia and Thailand has become a popular option, which will further promote the development of the local tourism industry and achieve mutual benefit and win-win results.
In 2023, Singapore's tourism industry will generally show a steady recovery trend. Looking forward to 2024, the Singapore Tourism Board expects that international flight capacity will continue to increase, and the capacity in major passenger source countries will reach or be close to pre-epidemic levels. At the same time, the Singapore Tourism Board believes that factors such as geopolitical uncertainty, instability in the world economy, and the continued recovery of flight connections will affect the recovery process of the tourism industry. In addition, in recent years, with the rapid growth of Singapore's accommodation, catering, and transportation costs, as well as the relative decline in the cost-effectiveness of travel costs compared with neighboring countries such as Malaysia and Indonesia, these will also become negative factors affecting the development of Singapore's tourism industry.
Cai Honda
(Economic Daily)