Growth of the F&B Sector in Singapore
- The F&B sector's GDP contribution has remained stable at around 1.3%, while the number of outlets grew by 54% and total employment nearly doubled over a decade, with foreign workers increasing to one in three of the workforce.
- The government recognizes the sector's role in making Singapore attractive but views the reliance on foreign workers as unsustainable, hence investing $75 million in productivity initiatives like part-time pool programs.
- Businesses unable to adapt may close, but entrepreneurs can access government schemes such as SEEDS and TECS to redirect their efforts into new ventures.