Singapore Passport Most Powerful in 2024
- Tourism Featured Regional World
Global Business Magazine- 5 minutes read
Singapore overtook as many as five countries, that shared the second top spot on the Henley Passport Index, reclaiming its title as the world’s most powerful passport in the latest ranking published by Henley Passport Index in the July 2024 edition of the Henley Global Mobility Report.
The city-state also sets a new record score, with Singaporeans now enjoying access to 195 travel destinations out of 227 around the world visa-free. Five countries – France, Germany, Italy, Japan, and Spain – shared the second place each with visa-free access to 192 destinations, and an unprecedented seven-nation cohort, each with access to 191 destinations without a prior visa — Austria, Finland, Ireland, Luxembourg, Netherlands, South Korea, and Sweden — were ranked 3rd place, based on data from the International Air Transport Association (IATA).
The UK hangs onto 4th place along with Belgium, Denmark, New Zealand, Norway, and Switzerland, despite its visa-free destination score falling to 190. The US, on the other hand, continues its now decade-long slide down the index, dropping down to 8th spot, with access to just 186 destinations visa-free.
Former passport powerhouses, the UK and the US jointly held 1st place on the Henley Passport Index 10 years ago in 2014. Afghanistan remains firmly entrenched as the world’s weakest passport, losing access to yet another destination over the past six months, leaving its citizens with access to only 26 countries visa-free — the lowest score ever recorded in history of the 19-year-old index.
Dr Christian H. Kaelin, Chairman of Henley & Partners and the inventor of the Henley Passport Index concept, said that the general trend over the past two decades has been towards greater travel freedom, with the global average number of destinations the travellers were able to access visa-free nearly doubling from 58 in 2006 to 111 in 2024.
“However, the global mobility gap between those at the top and bottom of the index is now wider than it has ever been, with top-ranked Singapore able to access a record-breaking 169 more destinations visa-free than Afghanistan,” Dr Kaelin said.
According to IATA, airlines will connect nearly 5 billion people over 22,000 routes on 39 million flights in 2024, and the air cargo transported will reach 62 million tonnes, facilitating an astonishing $8.3 trillion in trade.
IATA’s Director General, Willie Walsh, said that despite the immense value generated by the aviation industry, the margins were incredibly tight.
He said that the aviation industry expects to record revenues of almost $1 trillion this year while expenses, however, will also be at a record high of $936 billion and net profit will be $30.5 billion, he said.
“This translates to a modest net margin of around 3%, making the profit per passenger just $6.14 — barely enough for a single espresso in a typical hotel café. Additionally, this year, the return on invested capital is projected at 5.7%, significantly below the average 9% cost of capital. Despite this, the real cost of air travel has fallen 34% over the last decade,” Walsh added.
UAE in Top 10
According to the index, the UAE made it into the Top 10 for the first time – ascending from 62nd place to 9th this year – having added an impressive 152 destinations since the index’s inception in 2006 to achieve its current visa-free score of 185.
Henley & Partners CEO, Dr Juerg Steffen, said that the country’s meteoric ascent is the result of deliberate and concerted efforts by the Emirati government to position the UAE as a global hub for business, tourism, and investment.
“Our research has consistently shown a strong correlation between a country’s visa-free score and its economic prosperity. Nations with higher visa-free scores tend to enjoy greater GDP per capita, increased foreign direct investment, and more robust international trade relationships,” Dr Steffen added.
