Speech by Minister-in-charge of Trade Relations Grace Fu at Tourism Industry Conference 2026

Partners and friends from the tourism industry

Colleagues from STB

Ladies and gentlemen

Introduction and Recap of 2025 Tourism Performance

1.             Good morning. It is my great pleasure to see all of you here at the Tourism Industry Conference 2026. 

2.             Let me begin by congratulating the industry and STB on achieving a record year of tourism receipts in 2025. We welcomed 16.9 million international visitors who contributed $32.8 billion in tourism receipts. 

3.             Mainland China, Indonesia and Australia were our top tourism receipts markets, while long-haul markets such as Germany, the UK and the USA recorded double digit year-on-year growth. 

4.             These results were driven by a strong lineup of events and experiences throughout 2025. We hosted the World Aquatics Championships, the first in Southeast Asia, opened the IMBA Theatre at Gardens by the Bay, and welcomed new homeported cruise ships, including the much-anticipated Disney Adventure in March 2026. 

5.             On MICE, we have maintained our position as Asia Pacific’s Top Meeting City for 22 consecutive years, based on rankings from the International Congress and Convention Association (ICCA). 

6.             While we continue hosting international events such as the Safety and Security Asia tradeshow, we are also nurturing homegrown MICE events through BEInspiredSG, an incubator programme launched by STB and the Singapore Association of Convention and Exhibition Organisers and Suppliers (SACEOS). This has given rise to promising new events, such as Sgcarmart’s “Beyond Motion” future mobility event. 

7.             Beyond our shores, the Singapore Pavilion at the Osaka World Expo drew more than 2 million visitors and showcased over 50 local brands and talents to the world. 

8.             These results affirm our standing as a vibrant and exciting destination on the world stage, providing us with a strong foundation as we look ahead.

TDF5 and T2040

9.             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 impact on consumer spending. In 2024, we announced that the Government had injected over $300 million into the Tourism Development Fund. To further support our industry, I am pleased to announce that the Government will inject fresh funds of $740 million over the next five years.  

10.          This funding will support our ambitions under Tourism 2040, charting the next chapter of growth and ensuring that Singapore remains a compelling destination. 

11.          We aim to elevate Singapore’s position across three areas: 

a) A global hub for people, capital and trade;  

b) A world-class city and an endearing home; and 

c) A home for resilient businesses with strong human capital.

Strengthening Singapore’s position as a vital and trusted hub

12.          To fortify Singapore’s position as a vital global hub, we must expand and renew our capacity and connectivity. 

13.          To enhance maritime connectivity, STB and the Maritime and Port Authority of Singapore have been jointly studying the development of a new integrated cruise and ferry infrastructure. 

a)    We 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 larger Greater Southern Waterfront development. 

b)    The new terminal could support three cruise berths and up to ten ferry berths, with a passenger capacity approximately that is 1.5 times the existing MBCCS, and twice that of the existing HarbourFront Passenger Terminal respectively. This represents not only a significant increase in international cruise capacity, but also greater regional connectivity.  

14.          On MICE capacity, I announced last year that we were studying the development of a new MICE hub in the downtown area. The industry has shared with us that a central location, transport accessibility, and proximity to lifestyle experiences are critical success factors for the hub. 

a)    I am pleased to announce that we have identified the Straits View area, near Marina Bay, as the potential location for the Downtown MICE Hub. 

b)    The MICE Hub is envisioned as an integrated development, offering MICE facilities, accommodation, dining and retail, entertainment, and attractions. Its proximity to the potential new cruise terminal will also create exciting new possibilities. 

c)    The development will complement other MICE venues in the city, such as: 

                         i.         Raffles City, Suntec City, and Marina Bay Sands, 

                       ii.          all within a 3km radius,  

                      iii.         creating a vibrant MICE cluster that blends work and play, encouraging more ‘B-leisure’ travellers to extend their stay. 

d)    The MICE Hub will allow us to host more and bigger events downtown, and to run complementary ones concurrently at other city centre venues. Delegates can then enjoy the wide variety of leisure offerings, accessible via three MRT lines at Marina Bay station, including the upcoming Therme Singapore and Wetlands by the Bay expansion. 

e)    Let me share this exciting vision with a video. 

f)      Are you excited about it? I am. But it is not complete. We are still waiting for some of your ideas to beef up this video. I am confident that this world-class venue will strengthen our position as a leading MICE destination and help us realise our ambition to triple MICE Tourism Receipts by 2040. 

15.          Beyond infrastructure, our MICE portfolio will grow through strategic industry partnerships: 

a)    STB has established a 2-year partnership with the Academy of Medicine Singapore, creating opportunities to host more best-in-class conferences that serve the medical community’s professional development, reinforcing our position as a global medical events hub. 

b)    I am also pleased to announce that 22 hotels have come together to launch the Singapore Hotels Incentives for Business Events (SHINE) initiative. Covering 25% of Singapore’s hotel room stock, SHINE offers attractive accommodation packages to meeting organisers, enhancing our competitiveness for larger MICE bids. 

16.          We continue to attract a strong pipeline of MICE events, including the inaugural Global Connect Singapore, the first overseas edition of China’s premier conference 白鲸出海. 

17.          We will host the ASEAN Tourism Forum (ATF) in January 2027 to promote tourism growth in ASEAN and facilitate conversations on regional tourism topics, such as cruise tourism, sustainable tourism and digitalisation. As Chairman of ASEAN in 2027, Singapore will host over 250 ASEAN meetings of varying scales.

Building a World-Class City and Endearing Home 

18.          Second, building a world-class city and endearing home. We must continue to rejuvenate our cityscape with refreshed products and experiences that reflect Singapore’s unique character. 

19.          Let me highlight some key developments in our iconic tourism precincts: Sentosa, Mandai and Orchard Road. 

20.          The Greater Sentosa Master Plan – comprising Sentosa and Pulau Brani – will be developed over the next two decades into a world-class tourism destination. Envisioned as Singapore’s 'Island Playground and Sanctuary in a Global City’, Pulau Brani, spanning 120 hectares, is expected to unlock spaces for new hotels, attractions and experiences, while preserving the island’s natural elements. Upon completion, Greater Sentosa is projected to attract twice as many visitors than it does today. Again, let us have a look at the video. 

21.          Thank you, Sentosa. Our well-loved beachfronts will be rejuvenated, making way for more event spaces that cater to a variety of activities. We expect to increase the number of green walking trails, coastal trails and waterfront promenade, benefitting both tourists and locals alike. 

22.           We will also add new connections between Greater Sentosa and the mainland, increasing transport capacity and enabling more convenient travel. 

23.          We will hold exhibitions to showcase the possibilities in the Greater Sentosa precinct, at VivoCity and other locations in the heartlands. I invite our partners to join us in reimagining the future of tourism, leisure and recreation in Greater Sentosa. 

24.          Up north, we will be celebrating the completion of the Mandai Wildlife Reserve with the opening of Phase 2 of Asia’s first adventure-based zoological park, Rainforest Wild Adventure East, on 29 May. 

25.          In the heart of the city, the Orchard Road Rejuvenation Plan is well underway. We envision Orchard Road to be an iconic lifestyle destination for all – enlivened by vibrant activations, concepts and experiences set within a city garden. 

a)    To create differentiated experiences and drive visitorship, STB will launch the Orchard Road Rejuvenation Initiative. This supports enhancements to building facades, new experiential concepts and artwork installations, and night-time programming to bring vibrancy to the area and redefine visitors’ experiences. ION Orchard’s 3D Grand Facade Screen, which features a reinterpretation of familiar landmarks, offers a taste of what is possible. 

b)    I encourage Orchard Road stakeholders to come forward with bold and innovative proposals.  

c)    We will introduce ready-to-use pop-up spaces featuring a rotation of quality brands along the Orchard Road pedestrian mall. New-to-market brands, novel concepts, and promising local brands can plug and play through this cost-effective platform to test the market or build their brand presence on Orchard Road. 

d)    STB will be calling a tender for the design, build and management of these pop-up spaces. 

e)    Lastly, art and culture will take centre stage within Tanglin, anchored by the upcoming redevelopment of Tanglin Shopping Centre into a mixed-use development comprising retail, office, wellness and cultural uses. 

26.          Turning to events, we continue to make great strides in global entertainment, affirming Singapore as a destination for exciting events. In 2027, Singapore will host D23 Asia: The Ultimate Disney Fan Event, in partnership with The Walt Disney Company – marking the first time this flagship event comes to Southeast Asia. 

27.          Disney fans can look forward to exclusive first access to the latest in Disney storytelling, creativity, and innovation, as well as appearances of top stars and storytellers from Hollywood and around the world, uniting global communities through shared fandom, retail, and immersive experiences. 

Developing Strong Businesses and Investing in Human Capital

28.          Third, developing strong businesses and investing in human capital, making Singapore a resilient business hub for tourism. We remain committed to supporting businesses’ growth and investments in digital transformation and capability development. 

29.          To this end, STB has worked with IMDA over the past year to develop and refresh the Industry Digital Plans for the Travel Agents, MICE and Hotel industries. These plans guide businesses on digitalisation and technology solutions that can enhance the visitor experience and improve the workforce productivity. In the second half of this year, STB will be able to provide more streamlined funding support to tourism stakeholders for some of these pre-approved solutions, under Enterprise Singapore’s EDGE grant. 

30.          For instance, hotels will be able to adopt solutions such as a digital concierge that automates routine operations, improving both service efficiency and the guest experience. 

31.           STB will also be leading a review of the Attractions industry technology roadmap by early 2027. 

32.          To continue building a future-ready tourism workforce, 

a)    The Training Industry Professionals in Tourism Scheme (TIP-iT) has been broadened to fund stretch job assignments. This encourages companies to develop in-house leadership programmes customised to their needs – for building organisational resilience to navigate uncertain times. 

b)    To better support our companies, TIP-iT will also fund customised in-house skills training for rank-and-file workers, including Work Permit Holders, helping them to better meet the rising expectations of today’s visitors. 

Middle East Crisis and Support Measures 

33.          While geopolitical events have resulted in supply chain disruptions and rising fuel costs, challenges also present opportunities for us to sharpen our value proposition and competitiveness. STB will work closely with the industry to emerge stronger from these headwinds.

34.           To sustain visitor demand in this challenging environment, 

a)    STB is expanding over 20 key trade partnerships across our top 10 source markets to capture greater consideration from potential visitors and accelerate bookings. This will see more than $20 million in total investments from STB and in-market partners. 

b)     STB is also supporting the Association of Singapore Attractions (ASA) in launching targeted marketing campaigns to drive visitorship to our attractions. 

35.          The Tourism Development Fund, that I spoke about earlier, will support initiatives to help our industry capture opportunities and navigate near-term challenges. 

a)    We are allocating $5 million to our Business Events in Singapore (BEiS) Grant to expand support for businesses undertaking marketing activities aimed at building attendance. 

b)    Second, we are introducing a new $5 million Market Access Fund, to help businesses grow their presence in new markets, by reducing the financial risks of expansion. 

36.           Even as we drive demand and diversify source markets, our products must remain compelling. 

a)    We will extend the Hotel Rejuvenation Fund by one year. Since its launch last year, 13 hotels have embarked on rejuvenation efforts including solutions that improve energy efficiency and enhance operational efficiency. One example is PARKROYAL COLLECTION Pickering, which has integrated AI solutions – including an AI-powered inventory management system with automated guided vehicles – a first for a hotel in Singapore, increasing its storage capacity by over 200%. 

b)    We have also broadened the scope of STB’s Kickstart Fund. In addition to new and innovative event pilots, the fund will now support up to $1 million for new product pilots – giving businesses more opportunities to innovate and bring to life unique concepts with strong tourism appeal for high value visitors. 

Conclusion 

37.          As I conclude, let me reaffirm the importance of tourism in contributing to Singapore’s global presence. After many years of toiling, we are now a premier global destination, consistently ranked among the world’s best for our unique blend of futuristic innovation and multicultural heritage. Along with our world class airline and airport, our hospitality industry has been the gateway to the culture and soul of Singapore. We are a top 10 city destination in the world, and many of our attractions like our Gardens by the Bay was ranked highly. And Gardens by the Bay specifically was ranked third-best attraction in the world. Congratulations Gardens by the Bay! Collectively, the industry, hotels and hospitality, MICE, attractions, and all of you in this room, has put Singapore on the world’s podium. And we are grateful for your good work, and thank you very much for supporting this industry. 

38.          The road ahead will not be without challenges, but I am confident that through the collective efforts of the government, industry and community, we will continue discovering fresh ways to tell the Singapore story together. We have been through hard times and we will get through this again, emerging better and stronger. 

39.          I look forward to journeying with you in the next chapter of tourism in Singapore. Let’s go ahead towards Tourism 2040. Thank you very much.