Singapore

Singapore has emerged as Asia's leading tech hub, with its digital economy contributing S$128.1 billion to GDP in 2024 and creating over 214,000 jobs. Driven by AI and investments, it faces challenges like talent shortages and equity concerns. The city-state is poised for sustained leadership through inclusive strategies. Singapore has solidified its position as a dominant force in Asia’s technology sector, emerging as the region’s premier hub for tech employment and innovation. Recent data highlights a remarkable surge in the digital economy, which contributed S$128.1 billion to the nation’s GDP in 2024, representing 18.6% of the total. This growth has propelled the creation of over 214,000 tech jobs, underscoring the city-state’s transformation into a global benchmark for tech-dr...

Chinese travelers are now "a system-level driver of Singapore's visitor economy," Subramania Bhatt, a veteran tourism analyst based in the city-state, told Xinhua in a recent interview, noting that their travel patterns are increasingly extending beyond iconic landmarks, spilling over into smaller, niche itineraries and experiences. According to the Singapore Tourism Board, since the introduction of visa-free travel between Singapore and China in February 2024, China has become Singapore's largest tourist source market. In the first eight months of 2025, Singapore recorded nearly 2.3 million visitor arrivals from China. A China Outbound Travel Sentiment Survey in the third quarter of 2025 showed that Singapore was the most popular future travel destination among over 15,000 pote...

Singapore is expected to leave settings unchanged at its monetary policy meeting next week, as the city-state’s growth outlook remains resilient despite a slowdown in trade due to U.S. tariffs. Of 14 analysts polled by Reuters, 10 expect the Monetary Authority of Singapore (MAS) to hold off making changes in its scheduled review on October 14. Maybank economist Chua Hak Bin said a construction boom, generous fiscal support and falling interest rates have cushioned the blow from a trade slowdown. "Some economic segments appear to be strengthening during the third quarter, judging by the readings for retail sales, hospitality, property transactions, bank lending, trading volumes and IPO deals, which will help cushion the contraction in exports," he said. Similarly, ANZ head ...

Singapore’s digital economy expanded by $12 billion in 2024, contributing $128.1 billion, 18.6% of thenation’s GDP, and creating 214,000 tech jobs, the Infocomm Media Development Authority (IMDA) saidin its third Singapore Digital Economy Report. The report attributes most of this growth to digitalisation in non-tech sectors, rather than within traditional tech firms. Finance and insurance remained the largest contributors, followed by wholesale trade andmanufacturing. The number of tech professionals in Singapore rose from 208,300 in 2023 to 214,000 in2024, despite a cautious global hiring outlook and ongoing layoffs in the sector. Roles linked to AI, data, and cybersecurity saw the fastest growth. Non-tech industries drove thisexpansion, with a 3.9 per cent increase in tech em...

The initiatives in Singapore and Malaysia to protect gig workers could act as a model for emerging economies to regulate platform labor. Gig work, symbolized by crowd work, on-demand work, and freelancing, has expanded rapidly worldwide. The convenience of being able to accept work with just a smartphone has provided many with flexible working arrangements. Behind this sense of convenience for consumers, however, lurk issues such as unstable working conditions and exclusion from social security for the gig workers. Gig workers are usually denied rights as regular employees. Consequently, they have been pushed outside the scope of basic protection offered by labor laws including minimum wages, medical insurance, sick leave, and compensation for injury at the job. A landmark de...

Algernon Yau says Singapore ‘a friend rather than a rival’ ahead of trip to mark 30th anniversary of economic and trade office in city state Hong Kong’s commerce and economic development chief will visit Singapore next week in his latest global charm offensive to bolster bilateral trade ties as he described the city state as “a friend” rather than “a rival”. Secretary for Commerce and Economic Development Algernon Yau Ying-wah told the Post in an exclusive interview that he would spend two days in Singapore, meeting officials as he sought to reframe a persistent narrative of intense competition between the two Asian financial hubs as a relationship of mutual benefit. “We see Singapore as a friend rather than a rival, because I think everybody is trying to paint a picture [tha...

Singapore’s economic resilience amid US tariff challenges is underpinned by strategic investments injobs, infrastructure, and affordable housing. Following the National Day Rally, economists highlightedgovernment initiatives, such as traineeship schemes, SkillsFuture upgrades, AI adoption, andimproved job matching to support workforce adaptability, productivity, and long-term growth Singapore’s economy is holding steady despite uncertainties from US tariffs, but the focus ahead will beon workers and businesses adapting to disruption, economists said after Prime Minister Lawrence Wong’sNational Day Rally.PM Wong unveiled measures to strengthen job security, expand training opportunities, and helpbusinesses adopt technology, especially artificial intelligence (AI). Economists noted t...

Watching the National Day Rally last night made me feel conflicted. On the one hand, Singapore just posted some record-making economic figures last week - GDP growth was up, industrial output expanded and consumer spending remained strong. Our economy was looking pretty robust and we were hiking pay for low-paying jobs in retail. On the other hand, Prime Minister Lawrence Wong’s speech wasted no time on this. He chose instead to strike a cautionary tone. He highlighted two huge challenges facing Singapore: the coming artificial intelligence disruption and our move toward a super-aged society. He talked about big moves to transform neighbourhoods and homes, as seniors make up over one in five, amid a suite of measures to expand health and other public services for the elderly. ...

Lawrence Wong urged for faster adaptation, stronger social compact ahead of 60th National Day; warns global order of Singapore’s rise. Singapore is overhauling its economic strategy to prepare for an increasingly contested, fragmented and volatile world, Prime Minister Lawrence Wong said on Friday in his National Day Message, delivered on the eve of the city-state’s 60th Independence Day. According to PTI, Wong, who became Singapore’s fourth Prime Minister earlier this year, warned that the global order which enabled the country’s decades-long success is “unravelling before our eyes” and that the road ahead remains highly uncertain. “We expect the global economy to remain troubled for some time. Businesses everywhere are holding back on expansion and new investments,” he said. ...