Source: Cameron Casey (Pexels)

Singapore is most in-demand travel destination in APAC: report

Bookings as of June 2022 were 10% higher than in 2019 levels. 

The greatest demand amongst international travel destinations in the Asia-Pacific region is seen in Singapore, Mastercard Economics Institute reported. 

In its ‘Shifting Wallets” report, Mastercard found that consumer flight bookings as of June 2022 were 10% above its 2019 levels. This is despite heightened logistical challenges and price pressures. 

“Consumers in the Asia Pacific are looking to make up for a lost time after a challenging few years,” David Mann, Chief Economist of Mastercard AP & MEA, said. 

“The pent-up demand to see new places and experience new things is influencing consumer spending in a big way. With the ongoing prioritization of getaways, dining, entertainment, and experiences, we are expecting to see even more rebound in the travel and entertainment sectors.”

Read more: SIA Group passengers rise by 2.5% as travel recovery persists

According to the report, consumer spending in Southeast Asia is experiencing a recovery in various categories – retail, travel, and entertainment. 

Mastercard particularly saw that small businesses showed gains in online services even as large businesses outperformed them dramatically. 

In Singapore, small online business services rose by more than 3.5 times compared to their pre-pandemic levels. E-commerce sales for small online retailers grew by 59% in August 2022 against 2019. 

E-commerce sales of large businesses, meanwhile, rose by 200% over the same period.

“We’re seeing new opportunities for online businesses, as both goods and experiences spending shifts away from the weekends,” he also said.

“As digital shopping and remote work continue to influence our daily habits, consumers will adjust and re-adjust their spending preferences to match the changing rhythm of our lives.”


Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
ION Orchard leads charge in sustainable takeaway practices
 Shoppers will enjoy discounts when they opt for a reusable mug or food container from Muuse.