PROSPECTS AND OPPORTUNITIES
Experiential luxury to be driven by technological innovation and evolving consumer preferences
Experiential luxury in Singapore is positioned for steady value sales growth over the forecast period, driven by luxury hotels and underpinned by a strong recovery in inbound tourism. The mutual 30-day visa-free travel agreement with mainland China is a significant driver, as it will facilitate an influx of visitors from one of Singapore's key source markets.
Growth to be supported by new openings and health and wellness offers
The outlook for new hotel openings in Singapore over the forecast period remains robust, reflecting sustained confidence in experiential luxury. New luxury hotels will help to enhance Singapore’s position as a premier destination for discerning travellers seeking unique and immersive experiences.
Luxury hotels to increasingly adopt eco-friendly practices to appeal to travellers
Sustainable and responsible travel options are poised to become increasingly integral to the experiential luxury landscape in Singapore over the forecast period. This will be supported by the Singapore Tourism Board’s Hotel Sustainability Roadmap (announced mid-2022), which provides guidelines for hotels on sustainability, in line with the Singapore Green Plan 2030.
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Overview:
Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Experiential Luxury in Singapore report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Experiential Luxury in Singapore?
- Which are the leading brands in Experiential Luxury in Singapore?
- How are products distributed in Experiential Luxury in Singapore?
- How important is tourism in evaluating demand for Experiential Luxury in Singapore?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Experiential Luxury in Singapore - Category analysis
KEY DATA FINDINGS
Inbound arrivals help drive demand for experiential luxury in Singapore
Luxury hotels enhance offerings with tailored itineraries and lifestyle integration
Luxury hotels drive experiential luxury through bespoke services
Experiential luxury to be driven by technological innovation and evolving consumer preferences
Growth to be supported by new openings and health and wellness offers
Luxury hotels to increasingly adopt eco-friendly practices to appeal to travellers
Luxury Goods in Singapore - Industry Overview
Luxury goods in 2025: The big picture
2025 key trends
Competitive landscape
Retail developments
What next for luxury goods?
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Experiential Luxury
- Luxury Foodservice
- Luxury Hotels
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See all of our definitionsWhy buy this report?
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- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Experiential Luxury research and analysis database.
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