People walk past the skyline of Marina Bay central business district in Singapore April 26, 2013. Photo: Reuters, Edgar Su

Tourist visits to Singapore hit a record high last year, pushing the destination to the top of the list in Asia, reports CNBC.

In contrast, long-time competitor with Singapore for tourism dollars, Hong Kong, fell to the no. 10 spot on the list.

“I think that [tourism] seems to have bottomed out in Hong Kong at the moment…but it is rising a bit,” CNBC quoted Allen Zeman chairman of Lan Kwai Fong Group as saying.

Hong Kong has been hurt by tighter economic conditions in mainland China, but Zeman sees tourism numbers only increasing from this point.