Business travelers, cruising and live events

Inexpensive hotels and swaying palm trees have long attracted travelers to Southeast Asia, but Singapore is doubling down on a unique strategy — specializing in increasing tourism receipts as an alternative of traveler arrivals.

Officials on Friday outlined a plan to extend tourism revenue within the city-state from a record-breaking $29.8 billion in 2024 to $47 billion-$50 billion in the following 15 years.

Singapore’s “Tourism 2040” strategy centers on increasing demand from two distinct groups — business and stopover travelers, Grace Fu, Singapore’s minister for sustainability and the environment, said on the country’s Tourism Industry Conference 2025.

Officials aim to triple tourism revenue from so-called “Mice” travelers, or those that travel to attend meetings, incentives, conventions and exhibitions, Fu said.

“On average, a Mice visitor spends two times as much as a leisure visitor, making it an exceptionally priceless segment for Singapore,” she said. “The worldwide Mice sector [is] expected to double in value over the approaching decade.”

The country can be seeking to develop a brand new Mice hub within the downtown area of Singapore, said Fu.

Advantages of the Mice industry transcend tourism receipts, Singapore Tourism Board CEO Melissa Ow said on the event.

They “will further deepen our connection to priority industries, enable us to grow our economic heft by convening influential actors and thoughts leaders in Singapore, thereby amplifying our status because the World’s Best Mice City,” she said.

Ow announced that Singapore had secured its largest Mice event yet, Herbalife Extravaganza 2026, which she said is predicted to attract 25,000 visitor arrivals.

Stopover travelers are also expected to bring more tourism revenue, especially after the opening of Changi Airport’s Terminal 5, which is scheduled for the mid-2030s.

Still, leisure travelers will remain necessary to the city-state, Ow said.

To draw them, Singapore will proceed to give attention to providing “world-class attractions,” she said — a technique that the country has employed to compete with cheaper tourism draws within the region.

Recent attractions are within the works, including the Singapore Oceanarium slated to open later this yr, followed by the Porsche Experience Center and a brand new Science Centre in 2027, said Ow.

Singapore also goals to strengthen its position in Asia’s growing cruising industry, she said.

She referenced the high-profile launch of Disney Cruise Line’s “Disney Adventure” — which is able to begin operating in Singapore in December — and the introduction of Ritz-Carlton Yacht Collections’ Luminara, a luxury superyacht set to start sailing from Singapore in December.

Beyond cruising, the island can be well-positioned to capture an increase in wellness tourism, said Ow, citing its “unique value proposition as a city in nature.”

She said Singapore Tourism Board identified longevity travel and “wellness hotels” as ways to drive visitor spend and repeat visits.