Tourists expected to spend $27.1b in 2018

Singapore is also projected to welcome 17.1 million visitors.

The Singapore Tourism Board (STB) forecasts tourists to spend $27.1b to $27.6b in 2018, a 1-3% improvement from 2017.

The board said in a press release, "With the global economic outlook looking favourable and Asia-Pacific tourism poised to expand, STB is generally optimistic about tourism prospects for the year ahead."

International visitor arrivals are expected to be in the range of 17.6 million to 18.1 million, a 1-4% improvement from last year.

STB cited challenges that remain are geopolitical tensions that might affect consumer travel sentiments and intensifying regional competition.

The board said it will boost marketing efforts and industry competitiveness to stay on course for "quality tourism growth."