Singapore equities stand a chance to shine in H2 2023
Against a challenging backdrop, safe haven markets and stocks could help investors ride out the mounting uncertainties
SINGAPORE’S concert scene is buzzing as megastars come to town, with the tourism industry looking to potential spillovers from the influx of regional tourists – especially for multi-day gigs like Jacky Cheung’s staggering eleven shows.
While Beyonce’s concert in Sweden in May led to an inflation blip, we do not expect a similar effect in the months that mega acts perform here: Cheung in July 2023, Coldplay in January 2024, and Taylor Swift in March 2024. Rather, the effect is likely to be spread over the coming months as bookings begin for concert tickets, hotels, airlines, and F&B outlets. More importantly, further mega acts could descend on the island.
Singapore’s appeal to artistes is obvious: a strong Singapore dollar, being a gateway to regional markets, well-developed infrastructure, and a post-pandemic population looking to travel and spend. Some of these factors are equally favourable for the Singapore equity market.
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