Number of food and beverages outlets in Singapore 2023, by establishment type
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In 2023, there were 6,355 restaurants operating in Singapore, compared to 837 fast-food outlets. Other eating places in Singapore include the iconic hawker centers, which were given a UNESCO heritage status in 2020.
A melting pot of cultures and tastes
Singapore’s cosmopolitan and multi-ethnic society has given rise to a vibrant and diverse culinary scene. From affordable local hawker fare to international fast-food chains and Michelin-starred restaurants, there is a tasty option for every budget in the city-state. For many Singaporeans, the stresses of daily life and long working hours, coupled with the availability of affordable and delicious food, mean that eating out has become a necessity. It is hardly surprising that Singaporeans find themselves frequently dining out, sometimes even daily.
High operating costs eats into the F&B sectors’ revenue
Despite the popularity of dining out, Singapore’s food and beverages sector remains highly competitive, with slim profit margins and high turnover. The operating costs of F&B establishments remain high, with the purchasing of goods and materials and remuneration making up the largest operating expenditures in this sector. In 2023, the operating revenue in the food and services sector could not cover the overall operating expenditure incurred.
