Inquire Before Buying
Speak to an Analyst 
Request Brochure 
Request CustomizationIMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.
Read More
Singapore Travel and Tourism Market Report by Type (Domestic, Inbound, Outbound), Service Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, and Others), Purpose of Visit (Business, Leisure and Recreation, Education, Medical, Social Activity, and Others), Booking Type (Travel Companies, Travel Agencies, Online, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A23754
Year End
sale
Buy Now
Singapore Travel and Tourism Market Overview:
The Singapore travel and tourism market size reached US$ 4.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.80% during 2024-2032. There are various factors that are driving the market, which include the rising number of international cruise passengers, improving airport infrastructure, favorable visa policies, and increasing adoption of digital technologies.
|
Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
|
2023 |
|
Forecast Years
|
2024-2032 |
|
Historical Years
|
2018-2023
|
| Market Size in 2023 | US$ 4.3 Billion |
| Market Forecast in 2032 | US$ 6.6 Billion |
| Market Growth Rate (2024-2032) | 4.80% |
Singapore Travel and Tourism Market Trends:
Rising Number of International Cruise Passenger
According to the Budget Direct Insurance, Singapore's cruise industry saw a strong comeback, with the number of foreign cruise passengers increasing by 91.1% to 1.04 Million between January and October 2023. Modern cruise terminals including the Singapore Cruise Centre at HarbourFront and the Marina Bay Cruise Centre are a perfect example of world-class cruise infrastructure in the country. These terminals have large cruise ships and modern facilities for passengers. Singapore has well-developed cruise infrastructure because of its advantageous location in Southeast Asia. Furthermore, travelers can easily explore the city before or after their cruise experience because of the smooth connectivity between the airport, cruise terminals, and tourist attractions. Moreover, for cruise guests, the country has an impressive selection of shore excursions and activities.
Improving Airport Infrastructure
Singapore Changi Airport saw 5.12 Million passenger movements in June 2023, surpassing five Million for the first time since January 2020, according to the Changi Airport Group. Furthermore, as of July 1, 2023, Changi Airport hosted over 6,300 weekly scheduled flights from 9 airlines, linking Singapore with 148 destinations across 49 countries and territories. The airport integrates smart technologies to improve both passenger experience and operational efficiency. It has self-service immigration and security clearance, automated check-in and bag drop facilities, and real time flight information systems. These kinds of technologies expedite procedures and shorten passenger wait times, thereby enhancing their satisfaction. Additionally, Changi Airport's terminals include contemporary amenities and services to meet the needs of travelers. They have food establishments, duty-free shops, lounges, relaxation places, and kid-friendly activities. Accessibility features and services for travelers with reduced mobility are also available. Apart from this, the airport prioritizes sustainability efforts in its development projects and operations, which include waste management systems, green spaces, water conservation efforts, and energy-efficient structures.
Singapore Travel and Tourism Market News:
- 26 March 2024: With a US$ 570 million agreement, American Express Global Business Travel (Amex GBT) acquired Singapore-based CWT, signaling a major consolidation in the travel management sector. Revenue is expected to rise significantly as a result of the merger; by 2024, CWT is predicted to bring in about US$ 850 million in revenue and US$ 70–80 million in adjusted profitability.
- 6 June 2024: Singapore Airlines (SIA) and Riyadh Air signed a Memorandum of Understanding (MoU) to begin a new airline collaboration. Through this collaboration with Riyadh Air, SIA will be able to provide individuals with even more choices, improved connection, and more advantages. Together, they can facilitate the growth of passenger travel between Saudi Arabia and Singapore, and beyond, via their respective networks, supporting both tourism and business links.
Singapore Travel and Tourism Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, service offering, purpose of visit, and booking type.
Type Insights:
- Domestic
- Inbound
- Outbound
The report has provided a detailed breakup and analysis of the market based on the type. This includes domestic, inbound, and outbound.
Service Offering Insights:
- Ticket Reservation
- Hotel Booking
- Holiday/Tour Packages
- Others
A detailed breakup and analysis of the market based on the service offering have also been provided in the report. This includes ticket reservation, hotel booking, holiday/tour packages, and others.
Purpose of Visit Insights:
- Business
- Leisure and Recreation
- Education
- Medical
- Social Activity
- Others
The report has provided a detailed breakup and analysis of the market based on the purpose of visit. This includes business, leisure and recreation, education, medical, social activity, and others.
Booking Type Insights:
- Travel Companies
- Travel Agencies
- Online
- Others
A detailed breakup and analysis of the market based on the booking type have also been provided in the report. This includes travel companies, travel agencies, online, and others.
Regional Insights:
- North-East
- Central
- West
- East
- North
The report has also provided a comprehensive analysis of all the major regional markets, which include North-East, Central, West, East, and North.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Singapore Travel and Tourism Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Types Covered | Domestic, Inbound, Outbound |
| Service Offerings Covered | Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Others |
| Purpose of Visits Covered | Business, Leisure and Recreation, Education, Medical, Social Activity, Others |
| Booking Types Covered | Travel Companies, Travel Agencies, Online, Others |
| Regions Covered | North-East, Central, West, East, North |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the Singapore travel and tourism market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Singapore travel and tourism market?
- What is the breakup of the Singapore travel and tourism market on the basis of type?
- What is the breakup of the Singapore travel and tourism market on the basis of service offering?
- What is the breakup of the Singapore travel and tourism market on the basis of purpose of visit?
- What is the breakup of the Singapore travel and tourism market on the basis of booking type?
- What are the various stages in the value chain of the Singapore travel and tourism market?
- What are the key driving factors and challenges in the Singapore travel and tourism?
- What is the structure of the Singapore travel and tourism market and who are the key players?
- What is the degree of competition in the Singapore travel and tourism market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Singapore travel and tourism market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the Singapore travel and tourism market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Singapore travel and tourism industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
Benefits of Customization
Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization
Get in Touch With Us
UNITED STATES
Phone: +1-631-791-1145
INDIA
Phone: +91-120-433-0800
UNITED KINGDOM
Phone: +44-753-714-6104
Email: sales@imarcgroup.com
Client Testimonials
The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required
Read More
We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra
Read More
Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.
Read More.webp)
We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.
Read More
The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.
Read More
The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.
Read More
My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.
Read More
I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.
Read More.webp){kind=logo}
We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.
Read More
IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.
Read More
IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.
Read More
I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested
Read More
Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.
Read More
The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.
Read More
I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you
Read More
The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.
Read More
One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.
Read More
We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.
Read More
The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.
Read More
The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.
Read More
The report is excellent and has good amount of data and our team is extremely happy with the information provided.
Read More
Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.
Read More