Singapore Travel Retail Market Trends

Statistics for the 2023 & 2024 Singapore Travel Retail market trends, created by Mordor Intelligence™ Industry Reports. Singapore Travel Retail trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Team License

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Corporate License

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Market Trends of Singapore Travel Retail Industry

Tourist Arrivals in Singapore is Driving the Market

Singapore remains an ideal location for leisure and business travel, meetings, incentives, conferences, and exhibitions. Asian visitors continued to constitute a significant proportion of visitor arrivals to Singapore. Singapore Changi Airport, on the other hand, offers a more horticultural airport experience, boasting a sunflower and water lily garden as well as a cinema and rooftop pool. Visitor arrivals continued to increase as Singapore remains an attractive destination to both leisure and corporate travelers. Singapore Airlines recently increased the amount of time in which passengers can place pre-orders online prior to departure. International travelers have access to a variety of products including fashion and accessories, alcohol, fragrances and cosmetics, food and confectionery, tobacco, and jewelry and watches. Duty-free and travel retail products are purchased by locals and visitors alike when leaving or arriving in a country.

Singapore Travel Retail Market: Number of International Visitor Arrivals to Singapore in Millions, 2019-2022

International Consumer Spending is Driving the Travel Retail Market

Consumer spending is driving the Singapore travel retail market. Some of the leading companies are expanding their businesses by opening their outlets at the airport with an exclusive and wide range of fragrances and skincare products. This is because billions of people travel internationally every year and spend money and time at airports. Travelers get a lot of free time at the airport to browse and buy products. In addition, travel retail creates more visibility for their products, which draws the attention of new customers and increases the brand loyalty of existing customers. Passengers traveling over distances mostly prefer wines & spirits. Also, the growth in the culture of owning luxurious goods and consumption of expensive wines & other products are driving the growth of the market.

Singapore Travel Retail Market: Tourism Receipts In Singapore in 2022, In SGD Billion

Travel Retail Industry in Singapore Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)