Does Singapore’s F&B industry face an unsustainable future?
With the industry as a whole earning less than it spends, consolidation might be for the best
BENEATH the surface of Singapore’s vibrant food scene lies a simmering crisis: a high rate of closures in the food & beverage (F&B) sector. What contributes to this trend, and how can restaurateurs adapt to these challenging times?
Singapore had 5,560 restaurants with an industry operating revenue of S$3.85 billion in 2022, according to the most recent data from the Department of Statistics.
But industry operating expenditure was S$3.97 billion – meaning that on average, each restaurant incurred a loss of S$21,000. The last time the restaurant industry had operating revenues greater than expenses was in 2012.
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