Singapore is projected to see 15 million to 16.5 million international visitor arrivals in 2024, with tourism receipts expected to reach a record S$27.5 billion to S$29 billion.
Singapore is set to get its own Porsche Experience Centre by 2027 as part of efforts to boost the country’s tourism offerings.
Located next to Changi Exhibition Centre, it will be the German carmaker’s first experience centre in Southeast Asia, featuring a 2km handling track and other experiences such as themed exhibitions and immersive racing simulators.
This would be Porsche’s 11th experience centre, following other facilities in Tokyo, Shanghai, Los Angeles and Silverstone in the United Kingdom.
“We’re excited that Porsche has chosen Singapore, and we hope that the centre will dial up the fun quotient and add vibrancy to the Changi precinct,” Minister-in-charge of Trade Relations Grace Fu said on Friday (May 10).
When launched, it will be Singapore’s first permanent driving-focused facility, added Singapore Tourism Board (STB) chief executive Melissa Ow.
A new “world-class” wellness attraction will also be developed on the southern coast of Singapore near Marina Barrage, Ms Fu announced.
“With the rising demand for more restorative and wellness-related experiences, we want to position Singapore as an urban wellness haven,” she said, adding that the new attraction can leverage the waterfront and places of interest nearby.
STB will launch a tender in the coming months for the development of the wellness attraction, and more details will be unveiled later.
The global wellness market hit US$5.2 billion in 2022 and is projected to grow to almost US$8 billion in 2028, said Ms Ow, adding that there is “tremendous potential” for Singapore to tap into.
STB hopes that the attraction can offer a variety of wellness experiences including therapeutic arts, light- and frequency-based therapies, complementary health facilities, as well as indoor and outdoor water- or equipment-based types of fitness experiences. It will not have an accommodation element, she added.
Singapore is mindful that there are many forms and types of wellness experiences, which visitors are familiar with in other destinations, said the STB chief executive, responding to a question about how the new attraction will compete with resort hotspots like Bali and Phuket.
“However, I think this is a large format development that we envisage, and one which is within the context of Singapore as an urban destination,” she added.
“It will be something which is going to play to our strengths of convenience as well as having a very replete set of offerings related to lifestyle and leisure.”
COMPETITION FOR TOURIST DOLLARS
Singapore is projected to receive between 15 million and 16.5 million international visitor arrivals in 2024, with tourism receipts expected to reach between S$27.5 billion and S$29 billion, said Ms Ow.
“This is no mean feat because the upper bound of our forecast, if we achieve it together, will be a new record for Singapore,” she continued.
Last year, Singapore saw 13.6 million international visitor arrivals and S$27.2 billion in tourism receipts, “almost a full recovery” to pre-pandemic numbers in 2019, said Ms Ow.
As of April this year, Singapore received 5.7 million international visitors, which is about 90 per cent of the figure in the same period in 2019, said Ms Fu, noting that arrivals from more than half of the country’s top 15 markets have fully recovered to or exceeded pre-pandemic levels.
“Our strong performance in the first four months of 2024 is also bolstered by a series of blockbuster events and concerts,” she added, noting the concerts by Coldplay and Taylor Swift earlier this year.
“These events attracted large number of local and foreign attendees, and generated much buzz for Singapore.”