More than 3,000 F&B outlets in Singapore closed in 2024, highest in nearly 20 years

Food and beverage outlet closures in Singapore reached the highest level in nearly 20 years in 2024 - affecting all types of businesses from bars to fine dining. Over 3,000 F&B outlets closed in the past year, marking the highest number since 2005. Experts attributed the trend to the strong Singapore dollar, which has made the city state more expensive for tourists. But new restaurant openings continue to outpace closures - with 3,793 new establishments last year.

[@skysky1977]

It doesn’t take an “expert” to understand that it’s the high rental prices that causing the F&B business to collapse .

[@handsomewong2469]

You also miss out the high labour cost too but customer do not accept high charges to the food 😊

[@mariantia926]

Exactly..No need PhD...No need high paid expert..If u hv wisdom and eye wide open to observe from daily in out eating..We are overpaying 84 plus 5 mayor to tell us the problem but no solution which is the greatest greatest laughing stock of public.😂🤣😅🤔🤫🫣😆😁

[@allentan2513]

That and the government policy of restricting foreign staff for the F&B sector (3.5 for every 6.5 Singaporeans/PRs) which results in a labour crunch and inflated labour costs.

[@alexandrelee3304]

Amy Khor’s 2018 claim that that stall rentals do not affect food prices~

[@ivanteo1973]

@@mariantia926 yup, they are the only ones enjoying the fat profits.

[@BrandonSKW]

Rental prices worse than Japan that's death sentence

[@Republic-Of-Me-Travel]

This all comes back to property prices, not the dollar. If rents are affordable, then operators can flourish. Sydney hospitality died a long time ago because of this, and by contrast melbourne and hobart flourished....but property is now growing in value there too so give it time. Customers cant afford to have commercial rent prices included in a meal out ! The end result is the corporatisation of small venue hospitality in large shopping centres only, and a dead street-side scene 😓 Come to Sydney and you will see that!

[@ECOSAM-SG]

More than 3,000 F&B outlets closing is like losing 3,000 flavors of Singapore. 🍜🥲 From hawker stalls to fine dining, every eatery tells a story of passion and hard work. The best way to keep our food scene alive? Support local-grab a kopi from your neighborhood cafe, try that family-run zi char stall, or book a meal at a homegrown restaurant. 🇸🇬 What’s your go-to local spot that deserves more love? Let’s back our F&B heroes before more doors close! 🙌🍽

[@DonPrint]

👌

Yes

[@ALZM627]

True

[@AdminDefence]

Agree

[@loveneutrality3057]

Sure

[@Changl-M]

This is why we need to get rid of the bidding system for Hawker Centers and go back to normal renting of stalls

[@francisboulangere7628]

Well middleman & brokers. The main source of leakages.

[@georgemtchua]

The causes are both the GST hike and the way Government tender out management of hawker centers and lack of rent control on hdb coffee shops. The cost of Malaysian workers as gone up because it cost the workers more to rent rooms in Singapore.

[@thecommentatorofreallynoth9966]

That's why, that 2% really choke the business.

[@zevil89]

You cant charge Switzerland level prices in Asia. Theres no way Asian tourists will pay that much to fellow Asians

[@Elitraveller]

I was in a similar position a few years ago here in the US. I had everthying in place to start a new business, but gave up after a few months because of the extreme greed of the Landlords and their agents. To date I still go around some of the places I had talked to the Landlords and find the "For Lease" signs still up. The ones that got leased had cut down on the lease rates. But there are still hundreds of vacant spots available in my city and the neighboring towns.

[@Changl-M]

A hawker at Marine Parade Central Market and Food Centre has set a new island-wide record by bidding S$10,158 for a vacant stall at the centre.

[@sihanchen7552]

This fella really mother freaking spoil market for everybody.

[@byebyefiat]

Is that monthly rent?

[@MylesJin]

@@sihanchen7552 money laundering for sure

[@AdmiringKuchingLaksa-eh5tk]

In summary, lots of Singaporean F&B business closed down, then taken by China F&B, massage, TCM businesses as well as big chain outlet.

[@unholydanger]

Government caused the death of F&B by GST, Service Charge and expensive price. I have just learnt to cook and very rarely eat expensive stuffs.

[@limz0078]

I wouldn’t be so fast to jump to conclusion on the resilience of the SG F&B market. Because I am pretty sure that of the 3k+ new F&B outlets opening in Singapore in 2024, there is a huge chunk from China MNCs that have strong financial backing from investors and are not concern about profitability. The mainland F&B industry has been in involution (内卷) for years due to the rise of these unscrupulous companies who outbid the rentals and kills off competition. These companies are now bringing their involution ways into many South East Asian markets and killing many local businesses, both new start ups and time honoured businesses. It is up to you to decide if this is a good development for our local F&B scene. But I am just concern that our local heritage food scene may seize to exist if nothing is done to support our local F&B SMEs.

[@matthewpeloso2172]

Yes cash business can be used to wash money.

[@nash198419]

Well said

[@laichufloraleung1503]

Don’t worry , these Chinese restaurants will eventually close down (

[@bldomain]

Don't be like the Americans who blame the Chinese for everything when they can't compete. Every kind of business is about competition whether it is because of the salability of the products or having sufficient capital to cover the gestation period before breakeven. No money, don't do business.

[@bldomain]

@@laichufloraleung1503 No, I don't think so. In the future there will be more Chinese restaurants from the Mainland, American fast food chain restaurants, bubble tea chains, coffee chains and Mamak chain restaurants. As for the Mama-Papa SG run restaurants - it will be gone.

[@holypunk12]

Rentals sky high !

[@IIllIIlllllIIlIIIllIIIIllIIllI]

1:46 this guy really just said "Skill issue" in the most formal way

[@aesric]

LOL he is right tho

[@KelvinCrLin]

My friends and i dun spend in singapore dining and bars. We just eat simple hawker in sg on weekdays and spend on good food and pubs in JB. Save half the price. SG dining is too expensive.

[@richwhitelivesmatterforsureduh]

Thank GAWD, as a citizen of the rich kingdom of monaco, money aint an issue for me. #richbishvibe #nopeasants

[@chickaan]

As a retail operator, I feel pressure from multiple angles: 1. Lack of control over rental rates / negotiating with the same landlords due to their large commercial footprints 2. Price sensitive customers unwilling to accept increased prices for consumption 3. GST rate increases 4. Controls over hiring

[@windsong3wong828]

Orchard Road is really really quiet. Not many tourists.

[@Changl-M]

Hawker food prices in Singapore increased 6.1% in 2023 from 5.7%in the previous year, according to a study by the Singapore Department of Statistics.

[@Changl-M]

PAP supporters will find excuses for this

[@sihanchen7552]

They always do.

[@alvin67788]

They will claim inflation is a world wide issue and didn't admit high coe price indirectly affect goods and services prices

[@aesric]

​@@alvin67788LOL

[@Changl-M]

PAP’s decision has created an unfavourable situation for Singaporeans, leading to additional costs on their purchases.

[@lilili101]

The young are not interested in your wine bars. They rather travel than fine dining.

[@RicolaEnding]

The bloody owners raise the rental super high.

[@Changl-M]

Since the highest bid of S$10,680 was withdrawn before the results were announced, the stall is expected to be awarded to the second-highest bid of S$10,158.

[@walinnytanny5944]

Believe it or not, 10 years ago i used to run a shop in singapore with a rental of over Sg8000 a month. Now i shift my business to Indonesia, the shop rent only costs Sg3500 per year and 3 times the size

[@sixes3100]

Eating out is plain expensive in SG, that's why they say cooking is a life skill 😀

[@Slla-th5vt]

going back to the old days of people eating at home and packing lunch to work.

[@mmhmm4664]

More closures please.

[@Nerosink2000]

unfortunately that is the only way greedy landowners and greedy politicians can wake up

[@papa-dt1cv]

9% gst + 20% service tax.. too high

[@WTHH2]

What do you expect when rents sky rocketed on average 30%, electricity 35% ,water 20%, GST 9% , wages, levies , transport, food ????😢😢😢

[@rtflexi]

It's because the rental in Singapore is ridiculously high, manpower aside

[@mohamedjahangir2602]

The government should definitely help in such situations. Similarly, buying a house in Singapore has also become very difficult.

[@gt5087]

Continue pumping up property prices and rental. Driving everyone to desperation.

[@ttkoh123]

Singaporeans should NOT be mistaken and feel proud of the currency exchange BECAUSE the "Benefits" of Cheaper Imports are NOT passed down to Singaporeans. In case any one of you are in doubts, just compare prices across the border OR the price of your petrol.

[@Noh-gg8ce]

Compare the salary as well. Higher salary in SG.

[@ttkoh123]

@@Noh-gg8ce Don't know about your personal opinion but here are some reports; - Rise in credit card and other unsecured debt in S’pore even as card billings fall [Ref: ST UPDATED May 31, 2024] - According to a "reliable survey" some time ago: 2 in 3 working Singaporeans do not have savings to last them beyond 6 months. - According to CNA News the other time, Credit companies see a rise in people applying for personal loans, for daily essentials included.

[@Noh-gg8ce]

@@ttkoh123 That was during COVID period in 2020. Now it is 2025. "Many Singaporeans do not have enough savings to allow them to maintain their current lifestyle beyond six months if they were to lose their jobs now. An OCBC survey conducted last month during the circuit breaker period found that around two-thirds of working Singaporeans and permanent residents had indicated that they did not have enough savings to last them beyond six months." As per news report 2020.

[@ttkoh123]

@@Noh-gg8ce It's pretty clear why you are indulged in making motherhood statements like out of the context comment "Higher Salary in SG". BTW, How much are you paid for all these?

[@ttkoh123]

@@Noh-gg8ce - Ditto - Read

[@Crystallina-ep3tr]

👋 any idea which restaurant is that displayed as the video icon pls?

[@TayChyehock]

Our gov always leave it to market demand, washing off their hand. Hawker centre are built by them, rental fixed cost, then the food will be less expensive

[@tommytankkify]

More Ciyuan type of hawkers are coming up.

[@Paul-H-Wolfram6608]

Not only F&B outlets and stalls, many F&B stall and outlets went bust was because their stall & outlet rental in Singapore is so freaking sky high. Same as many other businesses where their shops and office space rental is also pretty high and once they can't meet their profits, they have to close down their business too. Singapore is too expansive to live in and to start a business.

[@Changl-M]

Netizens criticise PAP’s support for GST hike, blames policies for rising costs

[@thewatcher4896]

Tax and service charge amounts close to 20% every time u dine in an establishment. Takes a hit to the pocket if u eat out frequently.

[@michaelwin83]

19% pls be factual

[@thewatcher4896]

@@michaelwin83 19% is not close to 20%? ok Mr Know it all factual head

[@Pangdoodoo]

Omg exactly, you think by adding up what you order from the menu, it's 100 but when the bill comes through 120 is hard to stomach

[@s._3560]

During long public holidays like this week Chinese New Year, it is like a ghost town as all the residents working in SG have left the country and are spending their money overseas instead!

[@ttkoh123]

F&B outlets are NOT designed to cater solely for tourists in the first place. Hence the High Rental cost, High Operating Cost coupled with the High Cost of Living in Singapore diminish the population ability to spend. I don't think is looking any brighter moving forward as more hikes have been planned ahead; Mandatory Medishield Premiums may increase by as much as 35 per cent from April 2025. Children as young as 1 year old premiums will be hike to $200. The eldest premiums will be hiked to $2,826. Carbon Tax will be raised to $45 per tonne in 2026 and 2027, with plans for the rate to hit between $50 and $80 by 2030. GST is going to be hike again after 2030.

[@zerocurry]

GST hike, manpower crunch and rental are killing F&Bs

[@TayChyehock]

Rental - No.1 killer

[@Anntap-w9w]

Greed has been the most common cause of death

[@deniseli8315]

Is very obvious 3000 restaurant will close down because their crew never provide services and patrons have to pay for additional 10% for watching their sulky face when serving food. Can u imagine in restaurant we still need to wave for the crew, look at Beijing restaurant the servers are all on the ball given QR is implemented. Ours QR implemented, doesn’t mean restaurant owners are requesting their crew to provide more service.

[@bulls85]

RTS opening will kill off more outlets as consumers have easy access to JB F&B scene which is already thriving with more choices rather then the usual chain of stores in SG

[@86techboy]

Some places the hawker centre/food court only few stalls. Is tell tale sign rent is number one business killer. Just go to places like Alexandra retail centre, Jurong East Blk 130. Not enough half of stall are open.

[@Sebas6963]

should ask the incompetent MP about it

[@michaelwin83]

Just go Bangkok . Cheap food good it’s like Singapore 30 years ago .. very relaxed 😌 😊

[@K3nM3g]

Owners say its rent. Experts say is Sing dollar. What kind of experts we have?

[@sihanchen7552]

Overpaid and obviously useless ones that only know how to act as parrots to the govt.

[@gotmyonu1027]

Thanks to Govt GST hikes and making cost of living unbearable.... 2025-27... We well see more retailers closing and hopefully lesser visitors to Singapore

[@Changl-M]

Seetoh criticised the practice of bidding for hawkers to secure a stall in the hawker centre, arguing that the government should do away with it and offer fair rentals

[@eddielookk1]

well done... going to screw up all the SME business in Singapore 😢

[@enchemist]

like what 90% cafe and bars?

[@mw2159]

The population has increased so much and increasing at a more than comfortable speed. And more individuals and families are eating out. This closing of independent FnB outlets really hurt residents' choices and waiting time

[@Changl-M]

Others criticised the ruling party for attempting to shift the blame to the opposition as the election approaches

[@sihanchen7552]

The regime will blame the opposition for the common cold if they could. However the only thing they keep saying, the only plausible thing they can say also, is that the opposition have no solutions. But the biggest flaw in constantly making these statements is that, the regime themselves are the ones that created all these problems in the first place.

[@PxrkJin]

anyone knows the restaurant buffet in the video?

[@dd-dd2co]

Rental is obviously the main reason why, anyone with half a brain cell will know that.

[@RealRick0408]

If F&B is inclined to tourist business.. something is wrong.

[@enricocontrerasaraneta7290]

Extremely expensive

[@timcarter5693]

Singapore is horrendously expensive. Their dollar has appreciated by over 50% against the AUD…..it just totally priced itself out of the market for many people.

[@limtk55]

I have a simple solution. Make void decks into mini coffeeshops for startups. Then let it go viral throughout the whole estate.

[@matt9445]

Okay! Time to open an F&B place. Since 3000 has closed

[@ToraydoBull]

SG govt is just not doing anything about the rentals. Every year it has been increasing. Not just in commercial real estate but residential too.

[@reksgwee]

Please, initial success is not an indicator of longevity. If anyone thinks Google reviews are a good indicator, they are probably naive. I have seen Google review been abused by both customers and operators.

[@sihanchen7552]

Very true. A business may be popular from the start because people are curious and will want to try new things. But when the novelty wears off, this is where the real test begins, whether your business is sustainable and can last long or not.

[@chekeocha4923]

Thanks to who?

[@amubi]

More than three thousand in twelve months is horribly bad for domestic outlook

[@stwoode]

The service tax at restaurants shld be removed totally. So expensive to eat out in Singapore compared to even in Australia.

[@BebasTan-f3x]

i reckon this year will be doubled.

[@changying657]

It’s every thing not only rental Food cost up Labour cost up Rental cost up Utility cost up Gov admin cost up Sales down Tourist from regional countries China avoid Singapore due to high cost and strong dollar Singaporeans save up avoid spending to spend overseas Jb Japan and more Factoring in expenses and time relatively cheaper than Singapore More will open but more will also close 0:06 Survival rate bout 15 to 25 percent That’s max max

[@christyconner8842]

The rent so expensive.

[@PSTSales]

1. High rental 2. Lack of labour 3. High labour cost 4. Too many similar bussiness. Govt should allow more WP

[@allentan2513]

Lack of labour caused by the government's imposition of the quota on foreign staff for F&B operators 3.5 for every 6.5 Singaporeans/PRs.

[@caligula4725]

Cost of cai png i already buay tahan liao, haven't ate in atas restaurant for ages as its simply not worth the price. The days of trigger happy spending is over, now its all about cost to value ratio. Consumers have woken up.

[@aesric]

It doesn't take an expert to understand that the market is over saturated. We are full, literally

[@allentan2513]

The government also imposes a labour constraint on the F&B industry. Operators need to hire 6.5 Singaporeans/PRs for every 3.5 foreign staff. It is not known how this ratio is arrived at or why it is imposed (few Singaporeans are out-competed for jobs in the F&B sector and many Singaporeans do not want to work in F&B). The policy results in inflated labour costs and labour shortages. Many of the foreign F&B workers are from Malaysia and many cross from Johor daily to work and then return to Johor (they do not consume housing resources in Singapore). The relatively high rental costs in Singapore contribute to margin pressure as well. As a result the total cost to end customers is relatively high in Singapore.

[@BrunoHeggli-zp3nl]

Game over for Tesla!

[@DALLEY_SANI]

You blame the currency, seriously. Ask the locals why they go overseas, you will get the answer when it comes full circle which are rents making food and drinks prices to be pushed up to maintain it with gst and service charge. And more venues opening 3000 plus with 3000 closing is a good sign? Go figure...

[@yeolee8696]

Even though new F&B keep launching out , but how to create profit?

[@jeslyny9692]

Funny why rental cannot be controlled ? F&B suffer the most n passon cost to customers n we also pay alot n suffers

[@ivanteo1973]

3000/3793 means 80% chance you will close. Better to be a landlord, always milks profits.

[@anghockseng5686]

To expensive you can open but can you last

[@stng4857]

BEST ACHIEVEMENT UNDER PAP and LEE HSIEN LOONG. Aren't they PROUD,!!

[@FrankWupersonal-s4x]

I think the why food and beverage services in Singapore is closing rapidly Compared to previously it is because the labor cost is going up and the red tape for hiring foreign workers and manpower particularly around work pass

[@willwong7728]

In Hong Kong we have an economy option, go to consume in Big Bay Area , have had SP the similar choice, may be border city of Malaysia ?

[@Noh-gg8ce]

"But new restaurant openings continue to outpace closures with 3,793 new establishments last year." Thus there are additional 793 restaurants so lets support.

[@rui-9-cs315]

rental prices

[@leonwangls]

Another, 3793 restaurants will be closed in 6 months. Same formula, same economy, same failure. Fools repeat the same mistake.

[@tommytankkify]

I do not believe it... openings more than closures! CNA...lol

[@cognacbrown]

We need a higher population base to support F&B at current rental prices. There are many cities where F&B rentals are even higher. It’s fine provided there is a big enough customer base. Business don’t mind high costs if revenues more than make up for it. It’s a problem when it’s not.

[@quel.4341]

Nobody seems worried that what is happening to F&B is actually the same as what is happening to most of the SME and even larger ones. MNC moving out since years ago, or downsized, or close down for good. So don't be too excited businesses are dying here, cos that is your fate down the road too. Nobody also mentioned, eating out anywhere means paying someone to cook for you is a luxury. How could media make it like this is everyone's entitlement in this country? And, I worry for Singapore. Why media seems to encourage everyone to fly oversea to spend their money while local companies are literally dying? Where these people get their money from?

[@HaziqConnect]

Funny ah. The owners that are actually closing down blame the rents. Meanwhile, the 'experts' are blaming "the strong Singapore dollar". PAP fucked up lah. Bidding instead of charging fair value.

[@KDieter]

No need to go there. Save your money 👍

[@Happy-v3f5d]

jb good and affordable

[@ezekielk.3629]

Food in SG is mediocre

[@markhala]

US tips 15% recommended. SG tips 9% + 10% (19%) mandatory. How?

[@skwb1973]

I F&B at home. Then travel 3-4 times a year to wine and dine all over the world.

[@metacity75]

Chio Bu spotted at 1:23

[@abrahamtan9602]

With more new comers, the number of closure will be higher next year. New comers will experience the same problem faced by current operators leading to their closure.

[@shengyi1701]

El Fuego at Jewel Changi last day on 28 Feb 2025.. .. sigh. They are the latest casualty!

[@畜生1995]

No pork no lard, no business from me.

[@reubensher8144]

Its just landlords' greed....PAP will of course rationalise & justify it. Its better for Singaporeans to just handover the country to China.

[@roystonling5115]

Say all you want but more opened than they closed. 2nd, the entrants from china are offering better value than the cafe operated by the younger locals who often offer standard fares like taco, egg-ben only but expected to charge high prices. So the real cause is, in addition to rent, Manpower and the desire for high returns for medicore offerings

[@xueling02able]

How can rentals and everything not be high when greedy CEOs, top executives, directors politicians etc...pocket such ridiculously sky high salaries....