Strong recovery in global flight connectivity and travel activity, continued NTO campaigning as well as fresh partnerships to stimulate international interest in Singapore as a tourism and events destination, have lifted the confidence of the country’s tourism industry, prompting the Singapore Tourism Board (STB) to update its forecast for 2024.
This year, STB is projecting between 15 million to 16.5 million international visitor arrivals, and for tourism receipts to reach between S$27.5 billion (US$20.3 billion) to S$29 billion.
The initial forecast, shared in February, was 15 million to 16 million in arrivals and S$26 billion to S$27.5 billion in tourism receipts.
Addressing industry stakeholders at the STB Tourism Industry Conference 2024, held this morning at Sands Expo & Convention Centre, STB chief executive Melissa Ow, said: “This is no mean feat, as the upper bound of our Tourism Receipts projection, if achieved, will be a new record for Singapore, and it will mean that we have emerged even stronger after the pandemic.”
Elaborating on the drivers of such optimism, Ow pointed to the recovery of global flight connectivity and capacity, which she said “bodes well for us to sustain growth”.
“As of first week of May 2024, international flight capacity – based on seat capacity – has recovered close to pre-Covid levels, with some of our top source markets such as China, India and South Korea exceeding pre-Covid flight capacities,” she noted, adding that new flights have also enabled Singapore to deepen its reach across source markets.
Also instrumental to STB’s improved expectations of tourism performance are the intensified marketing efforts “to attract increasingly discerning…travellers who are looking for more purposeful travel to Singapore”.
Ow recalled the Made In Singapore (MIS) global brand campaign that was launched last September across key visitor source markets. 3D billboards were taken in high traffic areas such as Times Square in New York, London’s Piccadilly Circus , and Xintiandi in Shanghai to stoke interest and drive travel to Singapore.
STB also engaged key influencers to share their unique experiences in Singapore, and inspire a wider audience including their fanbases to visit.
“To sharpen our competitive edge, we will continue to develop our six global positioning campaigns, supported by a mix of products and experiences,” said Ow. One of these campaigns is the recent World’s Best MICE City Campaign, which profiles Singapore as a leading events destination that drives purposeful outcomes.
To ensure continued interest in Singapore, be it for holidays or business, STB has forged several partnerships that leverage the power of film, music and television as well as the positive influence of convenient payment solutions.
Recent mass media partnerships include one with JTBC, a leading South Korean TV network which has produced wildly popular shows; and Yuewen Global, a leading Chinese media and entertainment subsidiary of Tencent group.
With JTBC, a three-year MOU was inked to support production of variety programmes in Singapore. For a start, Singapore’s landmarks and attractions will be featured in its most popular dating reality show, My Sibling’s Romance.
With Yuewen Global, Singapore hosted the star-studded Yuewen Global IP Awards earlier this year, which took place outside of China for the first time. The live broadcasts attracted over 30 million viewers.
Multi-year partnerships with leading online TV platforms, iQiYi and Mango TV, have also materialised. Popular reality show, Divas Hit the Road, will air in June, just in time to entice Chinese visitors to choose the Lion City for their peak summer holiday.
Furthermore, STB has renewed its partnership with Trip Group for another three years, which will result in a series of marketing campaigns in eight markets, including China, the UK, and Thailand. The partnership also entails collaboration with Hong Hu Travel, which is Trip’s premium arm for customised travel, opening doors to high-yield visitors.
In India, a two-year partnership with PhonePe, India’s largest payments platform, will boost spending ease among Indian visitors.
Ow emphasised that “engaging with our fans and visitors and extending our reach to new markets would all be in vain if not for a great destination that continues to deliver quality experiences”.
Hence, Singapore has to be “relentless in the pursuit of novel tourism concepts, steadfast in the refresh of our existing products, and nimble in securing major events”.
