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Singapore Luxury Goods Market View
SUMMARY
- Singapore’s luxury goods sector remains supported by a combination of cyclical recovery and structural growth drivers.
- While global luxury demand has softened, the outlook for Singapore continues to stand out, underpinned by resilient tourism inflows and a rapidly expanding UHNW population.
- Recent data also points to sustained strength in luxury consumption, with sales of watches and jewellery rising by 6.2% y-o-y in March, outperforming total retail sales growth of 4.8% y-o-y.
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- Singapore Luxury Goods Market View18 May 2026
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