Singapore’s first-quarter growth forecast receives an upgrade, with GDP projected to expand by 2.9%, partly attributed to Taylor Swift’s concerts. Economists raise annual growth expectations to 2.5%. Swift’s exclusive six-show stint in Singapore attracted over 300,000 attendees, boosting sectors like hospitality and retail.
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Singapore GDP
DBS economist estimates the concerts to contribute S$300 million to S$400 million to the economy. Concerts like Swift’s bolster Singapore’s reputation as a live music destination and events hub, attracting visitors and growing tourism receipts. HSBC economist predicts a 3.3% year-on-year GDP growth in Q1, driven by a turnaround in industrial production and continued support from travel-related services.
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