Accounting for Software Industry
The economic rise of Singapore relied heavily on hi-tech products. Over the last 40 years, the country has become a world-renowned technology hub. This atmosphere fosters great ideas.
Accounting for Retail Industry
Offline shops have been in relative decline but Singaporeans aren’t buying less, they just buy online. Out of 5.6 million of Singapore’s population, 3.12 million shop online and 998,000 more users will be doing it by 2021.
Accounting for Real Estate Industry
Singapore economy attracts businesses and employees from around the world, so there is a high demand for both residential and commercial estate.
Accounting for Manufacture Industry
Singapore is the 4th largest global exporter of high tech products, with manufacturing contributing about 20% to the GDP. Key industry clusters include electronics, chemicals, biomedical sciences, logistics and transport engineering.
Accounting for Insurance Industry
Singapore is the largest banking and financial network in Southeast Asia. The life insurance market increased by 0.4% in 2019. With financial technology being developed, insurance companies can expand their direct life, general reinsurance, and captive insurance services.
Accounting for Hospitality Industry
Domestic tourism is giving a boost to the hospitality industry as locals look for a holiday. The Singapore government has also launched a S$45 million marketing push to help the tourism industry cope with the impact of the pandemic.
Accounting for Healthcare Industry
The aging population and emerging medical tourism drive healthcare demand in Singapore. New entrants may gain a considerable market share.
Accounting for Financial Industry
Fintech sector is one of the fastest growing industries. Due to the high concentration of financial institutions, the Singapore market welcomes cryptocurrency, blockchain, and mobile banking projects.
Accounting for Entertainment Industry
Singapore’s digital entertainment landscape is growing rapidly. Startups focus on content delivery with more than 7,000 media companies have set up in Singapore.
Accounting for Education Industry
Education is valued in Singapore: 54% of parents say they’d get into debt to fund their children’s studies. Also, the whole region craves online education services, which chimes with global trends.
Accounting for E-commerce Industry
Singapore’s e-commerce market revenue is expected to grow at 11.2% per year reaching US$5.086 billion by 2021. As locals practice social distance during the pandemic, more are turning to online shopping to avoid crowds.
Accounting for Construction Industry
Over the next three years, total construction demand is expected to be between $27 billion and $32 billion. The public sector is on the rise but there are a lot of private projects to join, too.
Accounting for Travel Industry
In 2017, 17.4 million international tourists visited Singapore. That’s three times more than the entire population of the city-state. All these travelers are craving high-quality services.
Accounting for Recruitment Industry
Singapore has a buoyant employment market. Companies turn to HR agencies to find suitable candidates both inside the country and overseas.
Accounting for Shipping Industry
Singapore is connected to more than 600 ports in over 120 countries. This makes a perfect location for the headquarters of a logistics company.
Accounting for Publishing Industry
Singaporeans are a nation of prolific readers. The city-state has one of the highest rates of literacy in the world.
Accounting for Food Industry
Singaporeans are known for their passionate love for food. National cuisines of other countries are always of high demand: in Singapore, there have been 39 Michelin-starred restaurants since 2018.