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A nighttime perspective of Singapore’s iconic “Supertrees,” part of the sustainable vertical gardens located in Gardens by the Bay.
British traveler Tony Cross first visited Singapore in 1992 when the city was known for its upscale shopping malls, the bustling Zouk nightclub, and the famous Singapore Zoo. Fast forward to today, and the allure of shopping has diminished as both goods and commercial rents have risen in this densely populated city. Additionally, Singapore’s once-vibrant nightlife scene is struggling due to high operational costs and changing social drinking habits.
Moreover, competition from neighboring Southeast Asian cities, which offer more affordable travel options, has intensified. Rather than competing solely on price, Singapore is leveraging its world-class attractions—including Marina Bay Sands, Gardens by the Bay, and the newly developing Mandai Wildlife Reserve—to attract a diverse range of visitors from budget-conscious tourists to luxury travelers.
Additionally, business travelers flock to the city for conferences and major events, including the prestigious Formula One night race and concerts featuring international artists like Taylor Swift and Coldplay. In fact, this year, Singapore will host Lady Gaga for a series of concerts, including her only performance in the Asia-Pacific region, according to Singapore Airlines, which is partnering with her tour through its KrisFlyer rewards program.
“In the ’80s and ’90s, Singapore established itself as an accessible destination in Southeast Asia, but now many cities in the region are stepping up their game,” observed Cross, a financial consultant who has returned to the island nation approximately 20 times over three decades.
The Experience Economy
In 2024, Singapore welcomed 16.5 million foreign visitors, marking a 21% rise from the previous year, as reported by the Singapore Tourism Board. This figure excludes the numerous individuals crossing daily from Malaysia through two connecting bridges.
This influx represents a significant leap from 1992, when fewer than 6 million visitors came to the island, according to the National Archives of Singapore. However, it still falls short of the 19.1 million tourists recorded in 2019.
As the tourism landscape evolves, the Singapore Tourism Board anticipates visitor numbers could reach between 17 million and 18.5 million in the current year, buoyed by a variety of lifestyle events, MICE (Meetings, Incentives, Conventions, and Exhibitions) opportunities, and a host of new attractions, including the recently opened Rainforest Wild Asia park and the upcoming Disney Adventure cruise liner set for launch in December.
The Board has expressed a commitment to ongoing support for initiatives that deliver engaging and interactive experiences, aligning with the global trend towards experiential travel.
Galastein Tan, formerly overseeing major events at the Singapore Sports Hub, which hosted Taylor Swift’s concerts, emphasized the need for a robust tourism sector to sustain and attract the talent that solidifies Singapore’s status as a global city. He argued that building a mix of iconic venues and dynamic events is crucial for driving local economic activity and job creation.
Despite a burgeoning tourism sector, Singapore’s retail and food and beverage industries faced setbacks last year, contracting even as the overall economy grew by 4.4%. Increased spending by Singaporeans traveling abroad countered the rise in tourism revenue.
“The challenge remains for Singapore to maintain its competitive edge as regional nations enhance their tourism offerings,” Tan noted. “Travelers now have a plethora of choices.”
Pricey Hotels and Affordable Dining
Data from Expedia indicates a slight decline in flight searches to Singapore from its three largest visitor markets—China, Indonesia, and India—by 1% from February to July 2025, alongside a 2% drop in hotel accommodation searches during the same period.
Singapore continues to rank high as a destination for MICE events, coming in second only to Paris in the International Congress and Convention Association’s 2023 rankings. However, Thailand and Malaysia are gaining traction in this area, thanks in part to their more competitive pricing and improved infrastructure.
Albert Lee, an event organizer based in Malaysia, pointed out that organizing an event in Kuala Lumpur is significantly cheaper than in Singapore. He highlighted that the cost for a venue in Kuala Lumpur is roughly half that of Singapore while even citing a dinner for 40 could be arranged for one-third of the price in Singapore.
“Singapore is an ideal place for events—it’s beautiful, safe, and accessible, and the Singapore Tourism Board provides excellent support. That said, expenses can be quite high,” he remarked.
In terms of accommodation, five-star hotels in Kuala Lumpur also come at a fraction of the price compared to their counterparts in Singapore, as a comparison of listings revealed stark differences between rates at the Shangri-la hotels in both cities.
Finding Value
To combat the perception of high living costs, the Singapore Tourism Board is working to promote the value visitors can find in the city, especially utilizing its efficient public transportation system, a sentiment echoed by Tony Cross.
The Board noted, “We have collaborated with various influencers to highlight how Singapore not only provides good value for money but also allows travelers to optimize their itineraries and make the most of their time while visiting.”
Tano expressed his fondness for local dishes like Hokkien Mee and enjoys nature walks through Singapore’s many parks.
Singapore’s reputation as a coveted destination is also upheld by returning visitors such as Nazia Tanzeem, who emphasized the city’s allure for Indians. She mentioned the song “Dekhoji Dekho Singapore,” a Hindi classic from the 1960s, continues to inspire aspirations to visit.
Having spent several years residing in Singapore before relocating to Bangalore for more economical schooling options for her children, Tanzeem stated, “Many people dream of visiting Singapore at least once in their lives.”
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