Dining Demand Surges Despite Cost-of-Living Concerns and Travel Resurgence
Singapore’s restaurants and hotels are seeing an increase in Chinese New Year (CNY) dining demand from both families and corporates, despite challenges like cost-of-living concerns and renewed outbound travel.
Key Trends
Reunion dinner slots are filling up faster than previous years, and businesses are spending more this CNY.
This marks the second Chinese New Year since the lifting of Covid-19 group-size restrictions, resulting in larger gatherings.
While last year saw some muted demand due to travel resurgence, this year has brought stronger demand from diners remaining in Singapore.
Corporate Spending Increases
Restaurants are noticing that corporates seem to be more willing to spend on group dining, indicating a recovery in confidence post-pandemic restrictions. This shift highlights a desire to resume traditional CNY celebrations, with many opting for more elaborate reunion dinners.
