Singapore’s Marina Bay Sands has surpassed the 500-million visitor mark. The iconic integrated resort opened in 2010.
One of two multibillion-dollar integrated resorts in Singapore, Marina Bay Sands (MBS) first opened in 2010.
In a social media post, MBS said the “landmark occasion” reflects its “efforts to transform the property and redefine guest experiences”. It added that more than 1.2 million people attended MICE events (meetings, incentives, conferences and exhibitions) held onsite in 2024.
MBS’ “exceptional performance” for the year was “marked by record-breaking financial success”, its LinkedIn post added. Earnings before interest, taxes, depreciation and amortisation (EBITDA) surpassed US$2 billion “for the first time”.
The Moshe Safdie-designed integrated resort is famous for a dramatic profile that defines the Singapore skyline. The property recently underwent a $1.75 billion renovation, part of a larger $9 billion upgrade, mandated by its gaming concession with the city government. Through 2030, MBS will add a luxury hotel with VIP “sky gaming”, a 15,000-capacity concert arena and a new convention space.
MBS is a Las Vegas Sands resort. Its sole competitor in the market, Resorts World Sentosa, a Genting Singapore property, is undergoing a $6.8 billion redevelopment.
Stoking a tourism boom
The renovation projects are helping to drive tourism. Through September 2024, Singapore hosted 16.5 million visitors, up 21% from 2023. They spent a collective $16.6 billion (S$22.4 billion/£13.3 billion/€16 billion), up 10% over 2023 and setting a new record.
The strong performance was “an affirmation of the industry’s efforts in refreshing our products and experiences”, said Melissa Ow, CEO of the Singapore Tourism Board. “These efforts elevated Singapore’s destination appeal and strengthened the sector’s capabilities and competitiveness.”
Mainland China was the top feeder market, along with India, Indonesia and Australia. Growing markets included Japan, Taiwan, the UK and the US.
Singapore looks to a banner 2025
Tourism officials expect even better results in 2025.
The Singapore Tourism Analytic Network projects that between 17 million and 18.5 million international travellers will come to Singapore this year. They are expected to spend as much as S$30.5 billion.
In a statement, tourism officials acknowledged “potential headwinds stemming from geopolitical tensions and macroeconomic challenges”. However, they remain focused on “driving quality tourism growth”.
