Outlook for Singapore as we emerge from Covid-19
Outlook for Singapore as we emerge from Covid-19 – As Singapore is currently at 57% vaccination, we are going to hit 2/3 of our population getting vaccinated in a week or two.
We are able to approach this with a good set of governance scheme under the Singapore government but also with the discipline of the Singapore populace.
The government is expected to ease on the travel restrictions as we approach the “herd immunity” target.
What do you expect from the eventual easing of travel restrictions then?
This past two years has been very slow if not negative economic growth and this is something that has pent up much demand.
As the borders open, we will likely see a rebound in the following sectors as well
- Tourism and Hospitality
- Wedding Services
- Food & Beverages
This pandemic also showed how Singapore handled it very well and is likely to also attract even more wealthy individuals to relocate their wealth or their children to Singapore for their education.
We are likely to see strong growth in the wealth management field with the setting up of more family offices in Singapore as well.
Singapore with its strong wealth management field will not just see a growth in its assets under management but also property market is likely to receive more attention and will likely grow even better.
As the world also slowly recovers from the pandemic, trade will also be able to recover from the whole down turn due to the world’s economies going into lockdown over and over and many of the economies are hungry for growth again.
Once in a life time has this pandemic been for our generation but this is also the time when those businesses that have survived and managed to pull through this pull back will be able to recover much stronger than before and will be in the leading position to charge with the recovery of the economy.