The Singapore Tourism Board projected tourism receipts of S$31 billion to 32.5 billion (US$24 billion to $25.6 billion) in 2026, compared with a record of S$32.8 billion last year.
Despite visitor arrivals rising 3% in the first quarter from a year earlier, tourism spending is expected to soften because of "muted demands in the months ahead," Melissa Ow, chief executive of Singapore’s Tourism Board, said at the country's annual industry conference as quoted by CNBC.
International arrivals are forecast to rise to between 17 million and 18 million this year, up from 16.9 million in 2025.
Speaking at the Tourism Industry Conference 2026 on May 8, Minister-in-charge of Trade Relations Grace Fu warned that global uncertainties, including the ongoing Middle East energy crisis and its potential impact on consumer spending, could pose challenges for the tourism sector, according to The Straits Times.
Tourists pose for photos at the Merlion Park in Singapore, Jan. 28, 2020. Photo by Reuters
