Key View

• The food and drinks industry in Singapore offer good growth for companies looking to gain market share through innovative offerings and an opportunity to tie the trend of premiumisation to the successes of food tech in the city.
• The attractive consumer market is supported by high disposable incomes, which will outpace inflation over

Key View

• We at Fitch Solutions continue to see a high degree of political stability in Singapore with the nomination of Finance Minister Lawrence Wong as the successor to Prime Minister Lee Hsien Loong on April 14.
• We expect Wong and his colleagues to maintain a high degree of policy continuity and preserve Singapore’s business friendly

Key View

• Retail sales in Singapore is on an upward trajectory, aided by the easing of domestic Covid-19 related restrictions as well as restrictions on inbound international travel. This is contributing to the recovery of the retail sector and the wider economy.
• We expect real income growth in the medium term (2022-2026) to be sluggish, and

Key View

• Following the release of Q122 GDP data showing that the Singapore economy expanded by 3.4% y-o-y, we at Fitch Solutions maintain our 2022 growth forecast at 3.0%, which would be a sharp slowing down from the 7.6% growth recorded in 2021.
• We see mounting headwinds stemming from higher commodity prices, tightening monetary policy and a

Key View

• We at Fitch Solutions maintain our 2022 growth forecast at 3.6%, following the release of data showing that Q421 saw real GDP growth of 5.9% y-o-y, resulting in full-year growth of 7.2% for 2021.
• Our forecast reflects a fading of base effects rather than a dramatic slowdown in actual economic activity, as the economy is likely to

Key View

• Patients in Singapore will have to increasingly manage their own health with the move towards digitalisation.
• Robust telehealth guidelines will lead to a thriving start-up ecosystem of digital health providers.
• Cybercrime poses limited downside risks.

Patients in Singapore will have to increasingly manage their own health with

Key View

• We at Fitch Solutions have revised our 2021 growth forecast to 6.3%, from 6.1% previously, to reflect a further improvement in Singapore’s prospects for a more resilient recovery in 2021.
• Our upward revision follows the release of figures showing a 6.5% y-o-y and 0.8% q-o-q s.a. growth in Q321, exceeding even our previous

Key View

• We at Fitch Solutions forecast Singapore’s personal care products spending to grow by 4.8% y-o-y over the medium-term (2021-2025).
• Within developed Asia, the personal care products sector in Singapore attracts the highest per capita spending, at SGD1,853.0 (USD1,393.0) compared to the regional average of USD915.0.
• Over the medium

Key View

• Healthcare financing reforms are expected to shape the business environment in Singapore.
• High prices of new cancer drugs and the affordability of treatment will remain an issue in Singapore.
• MediShield Life coverage will be enhanced for cancer treatment to cover drug bills of nearly 90% of subsidised patients.

Healthcare