Experts believe Singapore has arrived at “safe harbours” and will see further acceleration to its gross domestic product (GDP) in 1H24. In a report, RHB Acting Group Chief Economist Barnas Gan said the services sector will underpin growth in 2024. “The upside risks to [Singapore's] 1Q24 GDP growth will stem from Taylor Swift’s March concerts (March), which are estimated to add an estimated S$350 to S$500 million of tourism receipts, whilst additional tourism revenue can be expected from the recently concluded Bruno Mars concerts (April),” Gan said. “Seasonal factors such as the Chinese New Year (February), Hari Raya Aidilfitri (April), Deepavali (October - November) and Christmas (December) will also likely add festive cheers and consumer spending to support Singapore’s retail space,” the expert added.   https://sbr.com.sg/economy/in-focus/services-sector-key-singapores-2024-growth (ICE SINGAPORE)

Fonte notizia: Singapore Business Review, , 15 April 2024