Singapore: Food Service - Hotel Restaurant Institutional

Singapore has a highly developed and competitive hotel, restaurant and institutional (HRI) sector with sales in 2021 totaling $7.7 billion USD. The HRI sector suffered badly during the pandemic. The industry lost over $19 billion USD from tourism sales in 2021 alone. The recent reopening of international borders and is expected to boost tourism once again. However, the HRI industry is not expected to fully recover until 2024. Additionally, the sector has evolved over the course of the past few years with increased digitalization and food deliveries.