Why New Restaurants Keep Opening in Singapore Despite More Closures

In the first seven months of 2025, Singapore opened 2,594 new restaurants. During the same period, 2,101 food businesses closed, a 25.1% increase from the previous year.

The rise in closures happened while costs and rents kept going up, according to the Accounting and Corporate Regulatory Authority.

The Economist ranked Singapore as the world’s second richest country by GDP per capita in 2025, behind Switzerland.

The Singapore Tourism Board reported 1.63 million international visitors in July, the highest monthly total this year. For the first seven months, the island recorded 9.8 million visitors, a 1.9% drop from last year.

The government plans to attract between 17 million and 18 million visitors in 2026 and is increasing investment in tourism, encouraging overnight stays and late‑night dining.

Industry players expect a bright tourism outlook, and they say this optimism, together with Singapore’s wealth, could help keep restaurant openings higher than closures.

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