The strong Singapore dollar has led to less tourist spending per capita and could also dent local consumption
SINGAPORE’S prime retail rents islandwide are expected to have risen between 2 and 4 per cent for the whole of 2024, driven by tourism recovery and expansion of foreign food and beverage (F&B) brands.
But as the city’s retail trade normalises from its pandemic lows, the outlook for 2025 appears uncertain, hinging on tourist and domestic consumption spending.
Between January and October 2024, Singapore saw 13.9 million visitor arrivals, up from 11.3 million in the same period last year.
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