Singapore - Food Service - Hotel Restaurant Institutional 2021


Report Highlights:
Singapore has a highly developed and competitive hotel, restaurant and institutional (HRI) industry that is traditionally fueled by robust tourism and receipts. However, tourist receipts saw a drastic fall of 78 percent to $3.7 billion in 2020 and visitor arrivals by 85 percent to 2.7 million according to the Department of Statistics, Singapore due to the COVID-19 pandemic. In 2020, the food and beverage
services index declined by 26 percent, as the sales volume was adversely affected by weak demand due to safe-distancing and capacity measures that are in place. The city-state is 90 percent reliant on food imports for its food supplies. The United States was Singapore’s fourth largest supplier of consumer oriented food and beverage products with total sales of $657 million.

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