Singapore’s wellness economy reached US$23.2 billion in 2024, according to new research from the Global Wellness Institute (GWI), up from US$15 billion in 2021.
The findings, released as part of GWI’s Geography of Wellness platform, rank Singapore as the world’s 37th-largest wellness economy, an improvement from 42nd place in 2021. The report was produced through GWI’s partnership with the Singapore Tourism Board (STB).
According to the report, Singapore’s wellness economy grew at an annual rate of 8.2 per cent between 2021 and 2024, slightly above the global average of 7.9 per cent. Wellness spending per capita reached US$3,845, more than eight times the Asian regional average.
The study found that inbound wellness tourism exceeded one million trips in 2024, with visitors spending an average of US$1,647 per trip.
Among the 11 wellness sectors tracked by GWI, wellness real estate recorded the strongest performance in Singapore. The sector grew at an annual rate of 28 per cent between 2019 and 2024, reaching a market value of US$3.84 billion and ranking 14th globally. Wellness tourism and mental wellness also recorded year-on-year growth of 27.7 per cent and 28.1 per cent respectively between 2023 and 2024.
The report highlighted Singapore’s integration of green spaces, active mobility infrastructure and preventive healthcare initiatives as key factors supporting its position as an urban wellness destination.
Recent developments include plans for a large-scale wellness attraction at Marina South Coast after STB awarded a development tender to Therme Group in 2025.
Susie Ellis, chair and CEO of GWI, said: “Singapore has become one of the world’s most compelling examples of how wellness can be woven into the fabric of urban life.”
Ashlynn Loo, director of land and concept development at STB, added: “GWI’s research and findings continue to demonstrate Singapore’s strengths as an urban wellness destination.”
The full report can be downloaded here.
