S$110 million allotted to new events that will boost Singapore tourism

Singapore. The country’s tourism sector is expected to recover in 2024, ahead of the earlier mid-2020s forecast.

“The recovery of tourism is accelerating faster than we expect… now it is accelerating, and we expect recovery next year, 2024,” stated Minister of State for Culture, Community and Youth Alvin Tan at SailGP, an international sailing competition. This year, SailGP has included Singapore for the first time.

According to Tan, most of the acceleration is driven by China’s reopening.

Singapore set aside S$500 million for tourism in April last year. Another S$110 will be added over the next few years to secure more events like SailGP.

Tan also noted that Singapore is ready to welcome all tourism activities.

Other events that are expected to drive tourism include Art SG and the upcoming Olympic Esports Week. Both events will be hosted by Singapore for the first time.

Moreover, Singapore will be creative in the events it plans on securing.

“We’re looking at new creative ways to anchor Singapore as a hub for sports and tourism,” stated Tan.

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