The Singapore Tourism Board (STB) has revealed more details of the country’s Tourism 2040 roadmap, which will rest on three key pillars: capturing demand from high potential growth opportunities; strengthen the destination attractiveness through compelling tourism products and experiences; and developing tourism industries through investment promotion and capabilities development efforts.
Tourism 2040 was first announced at the Tourism Industry Conference (TIC) in 2024, and what followed were interactions with industry players and members of the public to obtain suggestions on crafting the future of Singapore tourism together.
“We… greatly appreciate the ideas that you have shared with us,” said STB chief executive, Melissa Ow, this morning at TIC 2025.
To capture quality demand, STB has set its sights on the business events sector. The goal is to triple MICE tourism receipts by 2040, and have this sector contribute around 10 per cent of overall tourism receipts – up from four per cent now.
Ow said pursuing this sector also brings significant economic benefit.
“Anchoring key MICE events and activities will further deepen our connection to strategic sectors of growth, which is all the more important now, to enable us to grow our economic heft by convening influential actors and thought leaders in Singapore, thereby amplifying our status as the world’s best MICE city. The work starts now, and we have begun laying the groundwork.”
Upcoming high-profile business events in Singapore’s bag include Herbalife Extravaganza 2026, which is expected to be Singapore’s largest meeting and incentive travel event yet, with an anticipated 25,000 attendees.
To accelerate growth in business events, Singapore has partnered with the Singapore Business Federation to scale up capabilities to bid and host world-class events in Singapore, and with the Singapore Association of Convention & Exhibition Organisers & Suppliers to pilot a programme that helps event organisers to incubate quality events.
Demand will also be nurtured through a hotter pursuit of transit passengers at Singapore Changi Airport.
To boost Singapore’s attractiveness as a destination, the second pillar for Tourism 2040, Singapore will deepen efforts to anchor quality, world-class attractions. Doing so will attract leisure visitors who now prioritise sightseeing and attractions.
Singapore will welcome the Singapore Oceanarium later this year at Resorts World Sentosa, as well as the Porsche Experience Centre and the new Science Centre in 2027.
“Leading up to 2040, we will continue to pursue compelling concepts with strong visitor appeal, and secure large-scale, first-in-the-world concepts. We welcome stakeholders who have interesting proposals to connect with us,” shared Ow.
Various precincts will also be transformed to provide visitors with more reasons to stick around. Rejuvenating efforts are underway along the Orchard Road shopping belt. Somerset, which connects with Orchard Road , will welcome “exciting events” when the Grange Road events space by Live Nation opens. Greater Sentosa has a pipeline of new attractions, reimagined beach experiences, and expanded heritage trails, while the Changi East Urban District is envisioned to be a vibrant lifestyle and business centre at the doorstep of Changi Airport Terminal 5.
Cruises, wellness and destination hotels, as well as leisure events will also add to the destination’s attractiveness, opined Ow.
“STB has identified potential areas in the wellness tourism space including science-backed wellness and longevity experiences that enhance health span. These have significant tourism appeal, with sizeable visitor spend and opportunities to drive repeat visits,” she said.
Singapore has an ambition to be Asia-Pacific’s leading leisure events hub, according to Ow, and will achieve this by securing more world-class sports, lifestyle, and music events. There will be more home for such events, as new venues enter the market over the next few years. They include the Immersive Media Based Theatre at Gardens by the Bay later this year, Marina Bay Sands’ upcoming Arena, and a new indoor arena in Kallang.
Industry development forms the third and last pillar for Tourism 2040. STB has committed to investing in quality tourism products as well as reinvesting and retooling the tourism workforce. Come July, the Travel Agent Roadmap will be rolled out to help travel agents be the “Curators of Travel that Inspire”, said Ow.
Tourism businesses can also obtain support through STB’s Data Analytics Shift programme and Tourism Accelerator programme, both relevant for business transformation through technology applications.
Addressing Singapore travel and tourism trade players at the conference, Ow said tourism receipts would reach between S$47 billion (US$35.5 billion) and S$50 billion by 2040.
“In line with quality tourism, we expect tourism receipts to grow at a faster pace than international visitor arrivals,” she said.
When asked if Tourism 2040 would be disrupted by the potential global trade war and recession, Ow said: “It’s still too early to determine what the impact could be for Singapore’s tourism sector. We take confidence in the fact that Singapore’s tourism sector has a very diverse portfolio of markets, so there is no single market which accounts for significant share of visitors. I think that diversity of market portfolio will serve us very well in building resilience.
“The critical thing to note is many of our partners remain committed to seeing through plenty of programmes and initiatives that they have lined up for 2025 and beyond. Today, we announced our longer term plan for tourism. That’s to say that even as we look at the immediate year with caution and optimism, it is important to also keep an eye out for long-term prospects.
“Time has proven that travel and tourism remains one of the most resilient sectors that has bounced back from recession and pandemic and continues to thrive.”
