Vietnam remains the leader of tourism recovery in March, showing an 13+% increase of travelers from the same month in 2019.

Other leading countries, including Japan and Cambodia, surpassed their level of inbound travellers as well.

Singapore

Over 1.48 million visitors to Singapore were recorded in March, boosted by Taylor Swift’s six shows and K-pop group Shinee’s one concert.

China is the key feeder market accounting for 16%, followed by Indonesia (14%) and Malaysia (8%) during the period. Hotel performance also shows great recovery, recording a RevPAR of S$239 in the first three months of 2024, 14% year-on-year increase.

Working toward the 2040 tourism vision, the country continues to diversify its tourism offerings. While 2040 seems still some time away, the expansion for Changi Airport is under planning and set to be operational in mid-2030s.

A new attraction, Porsche Experience Centre, is expected to open next to the Changi Exhibition Centre by 2027. Additionally, a wellness attraction would be developed at the Marina South precinct, which aims to cater to the growing wellness demand in the region.

Vietnam

Vietnam welcomed about 1.6 million international tourists in March 2024, recording a 4.4% month-on-month growth and 13.4% increase over the same month in 2019. Top feeder markets to Vietnam include South Korea (24%) and China (22%) in March.

Overall, short-haul markets accounted for over three-quarters of the total monthly arrivals. In the first quarter, the revenue from accommodation and dining services reached about US$7 billion, showing significant recovery of the industry.

To boost the number of long-haul visitors to ASEAN, Thailand initiated to establish a joint-visa program that allows travellers to visit six countries, including Thailand, Cambodia, Laos, Malaysia, Myanmar, and Vietnam, with one visa.

While it is still at early stage of discussion, Vietnam and the neighbouring countries are expecting to benefit from the program in the future.

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