Cross-border travel spending rises 22% during Lunar New Year, says Visa

Visa said the surge in spending was driven by a strong Singapore dollar, pent-up demand, and evolving travel preferences.

Cross-border travel spending jumped 22% YoY during the Lunar New Year holiday weekend, according to Visa.

In a report, Visa said the surge in spending was driven by a strong Singapore dollar, pent-up demand, and evolving travel preferences, with key destinations including Malaysia, Japan, and Thailand.

Shopping and dining continued to dominate travel budgets, accounting for 61% of total travel spending.

Retail expenditures grew 14% YoY, whilst restaurant and fast food spending surged by 27% and 30%, respectively.

Malaysia remained the top travel destination for Singapore residents, with popular spots such as Kuala Lumpur, Johor Bahru, and Cameron Highlands drawing high visitor numbers.

Meanwhile, Japan saw a 138% increase in card spending compared to pre-pandemic levels, reflecting its continued appeal among Singaporeans. Thailand recorded a 29% year-on-year increase in travel spending.

The implementation of visa-free entry to China contributed to a sharp 86% YoY rise in travel spending in the country, signalling strong interest amongst Singaporean travelers.

Healthcare-driven travel is gaining momentum, with Singapore residents spending 58% more on medical services in South Korea and 59% more in Thailand compared to the previous year.

Singaporeans are also planning their trips earlier to lock in better deals, with online lodging bookings increasing by 16% YoY. The report also found that spending on alternative airlines, including European and Middle Eastern carriers.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia