What: Jewel Changi Airport achieves record 80 million visitors in 2024, marking a 10% year-on-year increase in footfall and 5% growth in sales, driven by overseas travellers and strategic brand expansion.

Why it is important: This milestone validates the evolving travel retail model where airports serve as lifestyle destinations, proving that strategic brand mix and experiential retail can drive significant growth even in challenging market conditions.

Jewel Changi Airport has achieved a remarkable milestone, recording over 80 million visitors in 2024, representing a 10% increase in footfall and 5% growth in sales compared to the previous year. International visitors constituted a significant portion of this success, accounting for more than 35% of total visitors, with a 7% increase in overseas traffic. The facility's appeal spans across diverse markets, attracting tourists primarily from China, Taiwan, Malaysia, Australia, and the Philippines. Jewel's strategic expansion included welcoming more than 30 new brands, featuring notable additions such as Charles & Keith's flagship store and international debuts from brands like Hakka Yu and Royal Host. Despite operating in a soft retail climate, CEO James Fong attributes this success to close collaboration with tenant and business partners. The facility's forward-looking strategy includes plans to introduce additional global brands and flagship stores, including Adidas, Palladium, and Nintendo, alongside new dining concepts, reinforcing its position as a premier retail and dining destination.

IADS Notes: Jewel Changi's record-breaking performance in 2024 reflects broader trends in Asian travel retail transformation. As noted in May 2024, Singapore's emergence as a premier retail destination provided a strong foundation for Jewel's success, with the airport mall capitalising on the city-state's diverse tourism base. The facility's impressive 80 million footfalls and 10% year-on-year growth align with July 2024 observations of post-pandemic travel retail recovery , particularly benefiting from Chinese tourists' increasing preference for Asian destinations. Jewel's strategic addition of 30 new brands, including international flagships, demonstrates an understanding of November 2024 findings that 70% of travelers now seek enhanced cultural and shopping experiences during their journeys . This approach of combining transit convenience with experiential retail and diverse dining options positions Jewel Changi as a benchmark for modern travel retail destinations.

Singapore’s Jewel Changi reports record foot traffic