Written reply to PQ on data on real-term growth in tourism receipts after accounting for inflation

Question:

Mr Edward Chia Bing Hui: To ask the Deputy Prime Minister and Minister for Trade and Industry whether the Ministry can provide information on the real-term growth in tourism receipts between 2019 and 2024, after accounting for inflation during this period. 

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong 

1.           While tourism receipts declined by 4.3% in real terms between 2019 and 2024, after accounting for inflation, we are seeing a positive trend in spend per visitor. In the same period, spend per visitor increased 10.7% from about $1,630 in 2019 to $1,800 in 2024, in real terms.

2.           We are also seeing an uptick in tourism receipts in the past two years. In 2024, tourism receipts reached $29.8 billion for the full year. From the nine months between January to September last year, tourism receipts reached $23.9 billion. This represents a 5.8% growth compared to the same period in 2024, in real terms.

3.             Singapore Tourism Board (STB) will continue to pursue high-growth visitor segments and markets with higher propensity to spend, by developing compelling experiences and supporting our tourism companies and workers to enhance their capabilities. This shows that our Quality Tourism strategy is delivering sustainable results.