Singapore’s Optimistic Tourism Forecast
Skift Take
- Singapore said it is expecting between 12 million and 14 million international visitor arrivals in 2023. That would be more than double the 6.3 million final tally of visitors in 2022.
- Sortis Holdings, Inc. is acquiring boutique hotel company Ace Group International and its management company, Atelier Ace.
- Yesterday we reported on the Wyndham Danang Golden Bay in Vietnam and today we cover the Wyndham Vuon Vua Thanh Thuy.
Singapore said it is expecting between 12 million and 14 million international visitor arrivals in 2023. That would be more than double the 6.3 million final tally of visitors in 2022 but below the 19.1 million that visited in 2019. The Singapore Tourism Board expects tourism receipts to reach S$18 billion to S$21 billion, up from the S$13.8 billion to S$14.3 billion the STB believes will be the final number for 2022. The growth in visitation and tourism spending is expected to be driven by increasing flight connectivity and capacity as well as China’s recent reopening. The STB said they plan to expand their partnerships, build up a rich year-round calendar of events, ramp up investment in new and refreshed products and experiences and continue to support industry efforts to build the capabilities to meet consumer demand. They expect tourism activity to return to pre-pandemic levels in 2024. As for hotel occupancy, STB said citywide reached 79.1% in 2022, not far f
