Singapore is one of the world’s most expensive cities, with monthly living costs excluding rent for a single person averaging around S$1,400-S$2,500 (US$1,050–US$1,900), while total expenses for couples can often exceed S$6,000–S$8,000 including rent, according to financial platform MoneySmart.
Singapore’s well-known food scene has been battered by closures in the past year, affecting low-cost hawker stalls, mid-sized operators and Michelin-star restaurants, who say costs are rising and consumers are spending less.
According to statistics from the Accounting and Corporate Regulatory Authority, 3,148 food businesses ceased operations in 2025, up from 3,047 in 2024.
A number of high-end bars and entertainment clubs closed last year, making Singapore’s nightlife scene less appealing to foreign tourists.
Experts warn that the fading vibrancy of the city-state’s nightlife could ultimately weaken Singapore’s appeal as a tourist destination, Channel News Asia reported.
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