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The Singapore Tourism Board projected tourism receipts of S$31 billion to 32.5 billion (US$24 billion to $25.6 billion) in 2026, compared with a record of S$32.8 billion last year.

Despite visitor arrivals rising 3% in the first quarter from a year earlier, tourism spending is expected to soften because of “muted demands in the months ahead,” Melissa Ow, chief executive of Singapore’s Tourism Board, said at the country’s annual industry conference as quoted by CNBC.

International arrivals are forecast to rise to between 17 million and 18 million this year, up from 16.9 million in 2025.

Speaking at the Tourism Industry Conference 2026 on May 8, Minister-in-charge of Trade Relations Grace Fu warned that global uncertainties, including the ongoing Middle East energy crisis and its potential impact on consumer spending, could pose challenges for the tourism sector, according to The Straits Times.

The government has announced a S$740 million tourism funding package, more than twice the S$300 million allocated under the Tourism Development Fund in 2024, to strengthen long-term industry resilience in the next five years.

Singapore is also looking to attract more cruise tourists as disruptions to Middle East airspace and volatile jet fuel prices continue to weigh on air travel.

Disney Adventure, the largest ship in Disney’s cruise fleet and the company’s first vessel based outside the U.S., began operating from Singapore on March 3.

The city state is preparing to open a new cruise and ferry terminal on July 15. The site will feature a VIP lounge and an automated baggage handling system as the country looks to expand a cruise sector that recorded 375 ship calls and more than 2 million passengers in 2025.

According to British publication The EconomistSingapore recorded a GDP per capita of $90,700 in 2025, ranking second globally behind Switzerland at $100,000. Norway placed third with GDP per capita of $86,800.