Singapore residents continue to prioritize travel, with outbound spending surging in December last year and during the recent Lunar New Year ( LNY ) holiday week, according to recent reports.

In fact, travel spending by Singapore consumers for December and January hit record levels, finds various reports and analysis by payments technology company Visa.

Cross-border spending, supported by a strong Singapore dollar, Visa notes, remains robust across key travel corridors, with notable shifts in consumer travel and spending patterns.

December year-end travel

During the December year-end travel period, shopping and dining remained the top priorities for Singapore travellers, accounting for 61% of their travel spend, the analysis shares, while lodging and airline bookings saw strong year-on-year growth as consumers planned ahead for travel.

Retail spending recorded a 14% year-on-year increase, while spending on restaurants and fast food surged by 27% and 30%, respectively. These figures, Visa states, underscore the enduring appeal of overseas shopping and dining experiences for Singapore travellers.

Malaysia, Japan and Thailand have emerged as the leading travel corridors for cross-border outbound spending, closely followed by South Korea and Australia during the year-end holidays last year.

The implementation of visa-free travel to China, Visa adds, has significantly boosted travel demand, resulting in an 86% year-on-year increase in travel spend in China, reflecting a broader trend of increased regional travel, facilitated by relaxed entry requirements and strong economic ties.

Malaysia has always been the top travel destination for Singapore residents all-year round. Top cities/areas visited by Singaporeans include Kuala Lumpur, Johor Bahru, Cameron Highlands, Bangkok, Bali and Kota Tinggi ( Johor ). Last year, Singapore travellers’ card spending in Japan, Visa adds, grew 138% compared with pre-pandemic levels.

Japan and Thailand, compared with December 2023, have secured their place as key travel destinations, while long-haul markets such as the UK, US and France continue to attract high-spending travellers.

South Korea and Thailand are also emerging as healthcare-driven travel destinations, Visa shares, with increasing numbers of Singapore residents seeking medical services abroad. In fact, South Korea saw a 58% rise in healthcare-related travel spending.

Japan and Thailand experienced the highest travel spend growth, recording 42% and 29% year-on-year increase respectively. Meanwhile, Malaysia saw the strongest growth in food and groceries spending at 75% year-on-year, reinforcing its position as a key travel and consumption hub.

As travel planning becomes more strategic, Singapore travellers are making early bookings to manage costs and secure better deals. Spending on alternative airline carriers, including European and Middle Eastern airlines, rose by 15% year-on-year, Visa shares, indicating a growing preference for diverse flight options. In addition, online lodging bookings increased by 16% year-on-year in December last year.

Top LNY destinations

The top travel destinations during this year’s LNY holiday are similar to the year-end break, with the exception of Indonesia taking the fourth spot, replacing South Korea.

During the LNY holiday week, Singapore travellers took the opportunity to spend the week travelling, with a strong spike in cross-border spending at 22% growth compared with the LNY week in 2024.

E-commerce spend also grew by close to 30% compared with the previous year during the festive period, showing that people were spending more to purchase online, given this year’s LNY coincides with February 2.

Malaysia continues to be the top travel corridor, with payments volume growing at 57% compared with the previous LNY week. The top-growing category in Malaysia was jewellery stores, showing over 220% growth compared with the previous year.

Japan comes in second as a preferred destination for Singaporeans. During this ski season, Visa saw a 36% growth of cross-border spending compared with the same festive period the year before. Thailand’s healthcare spend also grew at over 59%.