The year 2024 saw a significant growth in the tourism sector across ASEAN countries, with the Philippines and Myanmar experiencing more gradual growth. This growth was particularly notable in Indonesia, which welcomed 12.66 million foreign tourists—the highest in the past five years—and Vietnam, which saw a record-breaking 17.5 million international arrivals, up 39.5% from the previous year.
Thailand continues to experience substantial growth in its tourism sector, surpassing government expectations with over 35 million visitors in 2024. The World Bank predicts the country will exceed pre-pandemic tourist numbers by 2025. Among recent developments, the Thai government proposed a controversial draft bill to legalize casinos as a strategy to further boost tourism, expecting that the new law could increase foreign visitors by up to 10 percent, boost tourism revenue by 120 - 220 billion baht (US$3.35 billion – US$6.32 billion) and create between 9,000 and 15,000 new jobs.
Further South, in Malaysia, tourist arrivals saw an increase, reaching 22.5 million between January and November 2024, surpassing the 20.14 million recorded the previous year. Singapore remains the largest source of tourists, contributing over 8 million visitors, followed by Indonesia with 3.2 million and China with over 3 million visitors. With the Visit Malaysia 2026 campaign underway, the country is anticipated to experience a further surge in tourist arrivals this year, potentially exceeding pre-COVID levels.
Laos and Cambodia also witnessed remarkable increases in tourist arrivals. Laos welcomed over 5 million visitors in 2024, generating more than USD 1 billion in revenue. This surge was largely driven by the Laos-China Railway, which connects key destinations such as Vang Vieng, Luang Prabang, and Oudomxay, attracting significant numbers of Chinese tourists to the landlocked nation. Cambodia reported 6.7 million visitors in 2024, a 22.9% increase from 2023. Its top five tourist sources were Thailand, Vietnam, China, Laos, and the United States. Policies such as reduced visa fees have contributed to Cambodia’s tourism growth, with tourist e-Visa fees lowered from US$36 to US$30 and regular e-Visa fees reduced from US$42 to US$35.
Singapore saw steady tourism growth, with 15.3 million visitors recorded between January and November 2024, a 12% increase compared to the same period in 2023. Tourism revenue reached S$14.9 billion (US$11.09 billion) for the first six months of 2024, up 19% year-over-year. High-profile events, such as concerts by Taylor Swift and Coldplay, significantly boosted tourist arrivals. The country is expected to maintain this momentum with similar mega-events planned for 2025, which marks Singapore's 60th anniversary of independence.
In contrast, the Philippines experienced a decline in tourist arrivals, receiving only 5.9 million visitors compared to the target of 7.7 million. This drop was primarily attributed to a sharp decrease in Chinese tourists, with only 300,000 arrivals against the projected 2.2 million.
