Singapore - The Singapore Tourism Board (STB) has announced its ambitious 'Tourism 2040 Roadmap', outlining the blueprint for the future of its tourism industry. The roadmap will be driven by three core pillars: capturing high-growth demand, enhancing destination attractiveness by developing world-class tourism offerings, and fostering industry development through strategic investments and workforce capability building. A key focus will be on nurturing the MICE (Meetings, Incentives, Conventions, and Exhibitions) industry, aiming to triple related tourism revenue by 2040, while also strengthening leisure offerings with major new attractions and events. Furthermore, efforts to modernize tourism products and support the industry will continue, solidifying Singapore's position as a leading global destination for both business and leisure travel.
First introduced at the Tourism Industry Conference (TIC) 2024, the 'Tourism 2040' initiative has since been refined through discussions with industry stakeholders and the public, emphasizing a collaborative approach for the future of Singapore's tourism sector.
Intensive Cultivation of the MICE Industry, Targeting 10% Contribution to Tourism Revenue by 2040
To secure high-quality demand, the STB is strategically targeting the business events sector, aiming to triple MICE tourism revenue by 2040. This will elevate the MICE industry's contribution to overall tourism revenue from the current 4% to 10%. A notable upcoming event is the Herbalife Extravaganza 2026, expected to attract 25,000 participants and poised to be Singapore's largest-ever meeting and incentive travel event.
To propel the growth of business events, Singapore is collaborating with the Singapore Business Federation to enhance its capabilities in attracting and hosting world-class events. Additionally, a partnership with the Singapore Association of Convention & Exhibition Organisers & Suppliers will launch programs to support the planning of high-quality events.
In tandem, the STB plans to further enhance city tourism offerings by intensifying efforts at Changi International Airport to attract transit passengers.
Developing World-Class Attractions and Revitalizing Precincts
The second core pillar of 'Tourism 2040' focuses on elevating Singapore's attractiveness as a tourist destination. Singapore will continuously enhance its collection of world-class attractions to draw leisure travelers who prioritize quality tourism and unique experiences. Notable upcoming attractions include the Resorts World Sentosa's Singapore Oceanarium, the Porsche Experience Centre, and the new Science Centre slated to open in 2027.
Revitalization efforts are underway in various precincts such as Orchard Road, with new events and spaces like Live Nation's Grange Road event space injecting vibrancy into the area. The Sentosa precinct will feature new attractions, enhanced beach experiences, and expanded heritage trails, while the Changi East Urban District will evolve into a lifestyle and business hub, capitalizing on its convenient location near Changi Airport Terminal 5.
Furthermore, Singapore will continue to build its reputation as a cruise hub, a wellness tourism destination, a destination for signature hotels, and a leisure events hub. Leveraging new venues such as Gardens by the Bay's immersive media-based theatre, Marina Bay Sands' new arena, and Kallang's new indoor arena, the STB aims to attract more high-profile sports, lifestyle, and music events, positioning Singapore as the premier leisure event destination in the Asia-Pacific region.
Investing in High-Quality Tourism Products and Workforce Retraining
The third core pillar focuses on the development of the tourism industry itself. The STB is committed to investing in high-quality tourism products and the retraining of the tourism workforce. This July will see the launch of a new travel agent roadmap aimed at positioning travel agents as "inspiring journey curators." Additionally, businesses can receive support through the STB's data analytics transformation and Tourism Accelerator Programme, which supports the transformation of tourism businesses through technological innovation.
At the conference, Ms. Ong shared projections that Singapore's tourism revenue is expected to increase to between S$47 billion (US$35.5 billion) and S$50 billion by 2040.
The Future of Singapore's Tourism Industry: A Step Towards Sustainable Growth and Innovation
Singapore's 'Tourism 2040 Roadmap' presents a long-term vision that extends beyond simply increasing tourism revenue. It aims to develop Singapore into an even more attractive, competitive, and sustainable tourism destination. Through the cultivation of the MICE industry, the development of new attractions, the revitalization of existing precincts, and the support for workforce training and technology adoption, Singapore is expected to proactively respond to the evolving landscape of the future tourism industry and further solidify its leading position in the global tourism market.
[Copyright (c) Global Economic Times. All Rights Reserved.]
