[Post 1020] More than 3,000 F&B outlets in Singapore closed in 2024, highest in nearly 20 years

Summary

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.