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Singapore's Dining Dilemma: Rising Costs and Culinary Closures

Singapore's Dining Dilemma: Rising Costs and Culinary Closures Singapore's vibrant food scene, known for its diverse culinary offerings, is facing severe challenges as closures increase significantly. From humble hawker stalls to high-end Michelin-starred restaurants, many are shutting down amidst rising operational costs and consumer habits shifting towards less spending.Data shows an uptick in monthly closures compared to previous years, with costs for goods, utilities, rent, and salaries continuing to burden entrepreneurs. Alvin Goh, of Wine RVLT, will cease operations after his lease ends, citing financial losses since mid-2023. This trend reflects a wider industry contraction post-COVID euphoria.Economist Brian Lee predicts sustained high closure rates as Singaporeans prioritize travel over local dining. Food blogger Seth Lui warns of a potential loss in culinary heritage. However, optimists like Jay Gray continue to invest, betting on the enduring appeal of quality hospitality.

Singapore's vibrant food scene, known for its diverse culinary offerings, is facing severe challenges as closures increase significantly. From humble hawker stalls to high-end Michelin-starred restaurants, many are shutting down amidst rising operational costs and consumer habits shifting towards less spending. Data shows an uptick in monthly closures compared to previous years, with costs for goods, utilities, rent, and salaries continuing to burden entrepreneurs.

Alvin Goh, of Wine RVLT, will cease operations after his lease ends, citing financial losses since mid-2023. This trend reflects a wider industry contraction post-COVID euphoria. Economist Brian Lee predicts sustained high closure rates as Singaporeans prioritize travel over local dining.

Food blogger Seth Lui warns of a potential loss in culinary heritage. However, optimists like Jay Gray continue to invest, betting on the enduring appeal of quality hospitality. (With inputs from agencies.

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