Tourism spending in Singapore is projected to hit between S$47 billion and S$50 billion by 2040. It is also expected to grow faster than international visitor arrivals. This is why the Singapore Tourism Board (STB) is shifting its focus from volume to value. With tourism receipts last year hitting a new record of S$29.8 billion, STB projects spending this year to reach up to S$30.5 billion. Dr Samer Elhajjar, Senior Lecturer at the NUS Business School, discusses Singapore's tourist numbers and