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Despite global uncertainties, Singapore's robust economy and savvy government policies offer a bright outlook for 2024. Here's the good news: > Property: Stable prices: A healthy balance between supply and demand is expected, keeping prices stable with potential for moderate growth in desirable areas. Increased buyer confidence: Low unemployment and government support should boost buyer confidence, leading to steady transaction volume. > Rentals: Modest rental increases: With new housing completions coming online, rental price hikes may be contained, offering some relief to tenants. Diversification opportunities: Growing demand for co-living and flexible spaces opens up exciting opportunities for innovative landlords. > F&B: Resilient consumer spending: Singapore's strong domestic consumption is expected to sustain the F&B sector, even with inflationary pressures. Tourism rebound: The gradual return of international travelers will provide a much-needed boost to restaurants and bars. > Bonus: The strengthening Singapore Dollar could attract foreign investments, further invigorating the property and F&B sectors. Remember, this is just a glimpse into the future. Stay tuned for more detailed predictions as 2024 unfolds! 😉

Benefits of the digital economy - the example of Singapore 📈💰 Singapore's digital economy grew by 17% of GDP in 2022, reaching S$106 billion ($77.5 billion) from S$58 billion in 2017. Divided into the information and communications sector and more widespread, digitalization first includes services such as telecommunications and software development. ◾️ In the broader landscape, the added value of digitalization has grown from $38.6 billion in 2017 to $72.8 billion in 2022, driven by sectors such as finance, healthcare, wholesale trade and manufacturing. ◾️ In 2020, Singapore's digital economy outpaced its peers, accounting for 16.7% of GDP. Key drivers of double-digit growth in today's information and communications world include gaming, online services and e-commerce, which has led to increased adoption of technology during the pandemic. Thus, Singapore's digital economy not only provides strong growth, but also has a positive long-term outlook. The government's commitment to creating a competitive digital economy and skilled workforce technologies informs its strategic vision. 🔗 For more details, check out the full article - https://lnkd.in/eRN6Bsru #DigitalEconomyGrowth #SingaporeTechRevolution #ICTInnovation #TechTransformation #DigitalEconomySuccess #SingaporeDigitalLeap #GDPBoost #TechAdoption #FutureTechEconomy #DigitalInnovationHub #EconomicGrowth2022 #DigitalizationBenefits #ICTSectorGrowth #TechInSingapore #DigitalEconomyTrends #SingaporeBusinessTech

Investing in Singapore 🌏💼 Singapore, a small yet dynamic city-state, has etched its place as a global and regional hub for trade, finance, innovation, and sustainability. Even in the face of the challenges posed by the COVID-19 pandemic, Singapore's economy has showcased resilience and adaptability, poised to accelerate in the years ahead. Foreign Investment Magnet and Economic Growth Projections 🌍📈 Foreign Direct Investment (FDI) flows into Singapore have thrived, driven by a favorable climate, political stability, and strategic location. Economic growth is set to accelerate in 2024 and 2025, with the Monetary Authority of Singapore (MAS) projecting a GDP growth of 2.7% in 2025, driven by global demand recovery, normalization of domestic-oriented sectors, and continued investment in digital transformation. Inflation Dynamics and Fiscal Measures 📉💰 While inflation is expected to rise in 2024 due to a goods and services tax (GST) hike, ranging between 1.5% and 2.5%, government offset packages will mitigate its impact on lower- and middle-income households. A moderation to 1% to 2% is anticipated in 2025 as the GST effect fades and the output gap narrows. A Prosperous Future: Resilient, Diversified, and Innovative 🌐🚀 In conclusion, Singapore stands as a resilient and diversified economic hub, capable of navigating challenges and seizing opportunities in the evolving global landscape. Focused on manufacturing strength, financial prowess, and technological innovation, Singapore is positioned not just to survive but to thrive, contributing significantly to regional and global development. Read the full article here: https://lnkd.in/gm5hmY45 Written by Stephen Gee and Felicia Phun #Singapore #innovation #investment #Technology #EconomicGrowth

🏡 Unlocking Opportunities: Singapore's Economic Resilience Amid Global Shifts 📈 Singapore's unwavering GDP growth forecast of 1-3% for 2024 is a testament to its economic resilience, even as global headwinds persist. The first quarter's 2.7% year-on-year expansion sets the stage for a promising year ahead. 🏦 The finance and insurance sector's remarkable 6.5% growth, fueled by increased transaction volumes and credit activity, underscores the nation's position as a leading financial hub. This sector's strength bodes well for real estate investments and property financing opportunities. ✈️ The transportation and storage sector's 6.8% surge, driven by robust air transport and container throughput, signals a thriving logistics ecosystem – a crucial factor for the real estate industry's supply chain and distribution needs. 🛍️ The wholesale trade sector's 1.5% expansion across various segments highlights Singapore's role as a regional trading hub, fostering opportunities for commercial real estate development and industrial property demand. 💡 While external factors like geopolitical tensions, inflation, and monetary policy divergences pose risks, Singapore's diversified economy and proactive measures position it well to navigate these challenges. The real estate sector, being a crucial economic driver, stands to benefit from this resilience. 🤔 As we navigate these dynamic times, how can the real estate industry leverage Singapore's economic strengths to drive sustainable growth and capitalize on emerging opportunities? #SingaporeEconomy #RealEstate #PropertyInvestment #EconomicResilience #GlobalTrends https://lnkd.in/g3-ZbpDg 🗺️🏗️🏫🏪🏭🏬🏣🏢🏘️🏦 As a Senior Leader and Top 5% Realtor, I’m dedicated to making a lasting positive impact. I offer tailored training in Emotional Resilience to drive success and foster growth in the Real Estate industry. Let's connect and explore how we can work together!

Don’t miss out on the top 5 economic outlooks in Singapore. Singapore has been growing consistently. There was a lot of growth and innovation in the country in 2023. Here are glimpses of the top 5 economic outlooks in Singapore in 2023.  Technology and Innovation Singapore’s image has been strengthened as a global technology and innovation hub in 2023. There were a lot of investments in research and development that led to breakthrough technologies and startups. Green Economy Initiatives The importance of sustainability increased in 2023 in Singapore. The nation has focused a lot on eco-friendly initiatives, which will bring new green business avenues and investments.  Smart Infrastructure Infrastructure development has become very important for economic resilience. There were a lot of smart infrastructure projects in 2023 that enhanced connectivity and sustainability. Global Trade Dynamics After the pandemic, Singapore’s strategic location and trade-friendly policies have increased international trade. The nation’s attempt to adapt to evolving trade dynamics has positioned Singapore as a key player in the interconnected world. Healthcare Innovation The healthcare sector has seen a lot of innovation and digitalization, which ensures that Singapore leads in medical advancements. This has improved public health and also opened new economic opportunities in health and biotech industries. Planning to invest in Singapore? Connect with me. 👉 If you want someone who truly gets your financial needs met, I'm your go-to gal ✔ Click the “Follow” & "Connect" buttons now and let me help you achieve your financial dreams 💰 #SingaporeEconomy #TechInnovation #GreenEconomy #SmartInfrastructure #GlobalTrade #HealthcareInnovation #InvestInSingapore #EconomicGrowth #Sustainability #BusinessOpportunities

What can a tiny, resource-poor island nation teach the world about achieving unparalleled economic success? Singapore's transformation from a humble trading port to a global economic powerhouse is nothing short of remarkable. How did this small nation, with no natural resources, manage to outperform larger, more established economies? The answer lies in a combination of visionary leadership, long-term planning, and a willingness to adapt and innovate. Singapore's leaders recognized early on that human capital would be their most valuable asset. They invested heavily in education and skills development, creating a highly-skilled, adaptable workforce that could meet the demands of a rapidly changing global economy. By fostering a business-friendly environment, Singapore attracted multinational companies and foreign investment. Low tax rates, streamlined regulations, and a stable political climate made Singapore an ideal location for businesses looking to establish a presence in Asia. But Singapore didn't stop there. The nation continuously reinvented itself, transforming its cityscape and embracing technology and innovation. By staying ahead of the curve, Singapore cemented its position as a global hub for finance, trade, and innovation. Of course, success didn't come without challenges. Singapore had to tackle issues like income inequality and an ageing population head-on. But by addressing these challenges proactively and investing in inclusive growth, Singapore has managed to maintain social stability and shared prosperity. As global leaders and policymakers seek to navigate an increasingly complex and uncertain world, the lessons from Singapore's success story are more relevant than ever. By prioritizing human capital, fostering a conducive business environment, embracing change, and addressing challenges head-on, nations can unlock the secret to building thriving, resilient economies in the 21st century. P.S. If you could implement one lesson from Singapore's economic miracle in your own country or organization, what would it be and why? #EconomicGrowth #InnovationEconomy #HumanCapital #LeadershipLessons #FutureOfWork #GlobalEconomy #CompetitiveAdvantage

In my humble opinion third party analysis can be an addendum to one's strategy, however one should not blindly follow the conclusive actions as advised in market reports. Each individual has a unique understanding about their trade that is primarily due to the amount of exposure one has in their line of work. Analytics are based on macroeconomic views about the particular industry.However,the microessentials are based on one's experiences in that field which can vary from person to person. For Instance,during my recent trip to Singapore I wasn't too gung-ho about its manufacturing sector which is precisely due to numerous reports circulating in media which talks about the city being home to second most expensive in the world; competing for the top spot with New York city. Obvious thoughts that emerge after reading such reports are that the cost of goods sold (COGS) would not be comparable to low hanging fruits in neighbouring nations such as Vietnam, Indonesia, Bangladesh, Cambodia, Myanmar. Thereby, intuitively concluding that Freight on Board price of manufactured goods would not be suitable for export markets. This theory got banished when I met the people involved in the manufacturing ecosystem of Singapore. It was exciting to find out about the products wherein their prices are suitable to assist them in their sourcing requirements. Additionally the bias was quashed by clarification report shared by Singapore Government; quoting from the report: Quote The Worldwide Cost of Living (WCOL) survey looks at the prices of common set of products and services in the various cities to allow for city-to-city comparisons. As such,its consumption basket may not reflect what Singaporeans usually consume and is therefore not a good gauge of cost of living for Singaporean households. For instance, its consumption basket includes products such as brand name raincoats and foreign daily newspapers – these are typically not purchased by Singaporean households. A more representative indicator of cost of living in Singapore is the Consumer Price Index (CPI), which measures the average change in the prices of a basket of goods and services commonly purchased by Singaporean households. Unquote I am glad that I took the plunge to explore it myself that really helped in busting the myth. (Pic below - Selfie taken at Marina Boulevard, here's hoping for business development in Singapore). #singapore #manufacturing #mythbuster #advisory #sourcing #manufacturer #trade #southeastasia

🌐 In a warm and candid setting, we gathered at The Economic Club of Washington, D.C. for a conversation between Singapore's Minister for Trade and Industry Gan Kim Yong during his North America Trip and Siemens America CEO Barbara Humpton. #Singapore #EconomicClub #GlobalChallenges #Sustainability #Trade #SupplyChain #COVID19 #USChina #ClimateChange #SMEs #AgingPopulation #BusinessHub #EconClubDC #GlobalExecutiveTalks Here are some of my key takeaways: 1.COVID-19 Response: Minister Kimyong shared Singapore's proactive approach to balancing public health and economic concerns during the pandemic. (He was Minister for Health during Covid-19) 2.US-China Relationship: Insightful discussion on the importance of dialogue and engagement between the US and China to foster cooperation and minimize misunderstandings, especially on global issues like climate change. 3.Climate Change and Carbon Tax: Singapore's commitment to addressing climate change through initiatives like the carbon tax, encouraging businesses to transition to sustainable practices. 4. Supply Chain Resilience: Singapore emphasizes its role as a reliable partner in global supply chains, ensuring efficiency and reliability even during disruptions like COVID-19. 5. Trade Agreements and SME’s: Trade agreements are vital for SMEs to access global markets, with Singapore offering assistance to navigate these agreements and expand international presence. 6. Challenges of Aging Population: Minister Kimyong discussed Singapore's approach to the challenges of an aging population, focusing on health incentives and aligning financial incentives for healthcare providers. 7. Cost of Living and Real Estate: Singapore acknowledges the challenges of high costs and emphasizes its focus on efficiency, transparency, and infrastructure to maintain attractiveness as a business hub.

During my recent business trip to Hong Kong, I had the pleasure of reconnecting with some old colleagues, particularly from PwC. My visit prompted me to explore recent research from PwC HK, which I believe contains valuable insights worth sharing with my LinkedIn network: 1. Hong Kong's retail sector is experiencing a robust recovery post-pandemic, with a projected 5% increase in retail sales expected in 2024, reaching an estimated $428 billion. This growth is driven by strategic expansions in department stores, health and beauty sectors, and luxury goods, effectively catering to both local consumers and tourists. 2. The return of mainland tourists has played a significant role in driving this growth. With daily tourist volumes on the rise, particularly from mainland China, Hong Kong's retail landscape is once again bustling. Prior to the pandemic, mainland visitors accounted for approximately 30% of retail sales—a proportion set to increase as travel normalizes. 3. To sustain this momentum, Hong Kong is focusing on enhancing its 'event economy', promoting more trade fairs, cultural events, and international forums to attract global visitors and stimulate spending across the city's diverse retail destinations. Looking ahead, the positive synergy between increased tourist inflows and strategic economic initiatives is expected to propel Hong Kong towards a thriving retail and economic environment in 2024 and beyond. Hong Kong Retail Outlook 2024 (pwchk.com) #HongKongEconomy #RetailGrowth #EconomicDevelopment

Discover the economic power of Asia, a continent redefining prosperity. Your next major investment could very well be here by connecting with Global B2B. Tokyo, Japan: A major financial center and home to numerous large corporations. Shanghai, China:A major economic hub experiencing rapid growth with diverse industries. Singapore, Singapore: An influential financial center, major maritime port, and a commercial crossroads of Asia. Hong Kong, China: A key international financial center and strategic port. Seoul, South Korea:Headquarters of major technology companies and an emerging financial center. Mumbai, India:The financial heart of India, boasting a variety of industries. Beijing, China: The political and economic capital of China. Bangkok, Thailand: A major economic center in Southeast Asia. Jakarta, Indonesia: A rapidly growing economic powerhouse. Hanoi, Vietnam: An emerging economic capital in full swing. #GlobalB2B #TokyoFinance #ShanghaiEconomy #SingaporeTradeHub #HongKongFinance #SeoulTechHub #MumbaiIndustries #BeijingCapital #BangkokEconomic #JakartaGrowth #HanoiEmergence