- Singapore is experiencing a surge in its high-end hospitality and tourism industry, particularly in luxury hotel construction.
- Singapore is a global hotspot for wealthy high net-worth individuals (HNWIs) looking for luxury living experiences.
In its ‘Destination Criteria’ report for June 2023, the Global Sustainable Tourism Council acknowledged Singapore’s famous Urban Island Jungle on the edge of mainland Southeast Asia for its dedication to world food.
The Urban Jungle, also named The Garden City, combines luxury dining experiences of Malay, Chinese, Indian, Indonesian, Thai and English flavours.
Singapore is an ideal holiday location for HNWIs in Asia because it is safe and organised, and English is one of the national languages.
The second half of 2023 will see several luxury hotels open. Singapore Edition Hotel will open with 190 rooms. Artyzen Singapore is also set to open in 2023, focusing on sustainable luxury and greenery. The Standard, Singapore will offer 143 rooms and debut in early 2024.
Raffles Sentosa Resort & Spa will have 62 private pool villas, making it the only all-villa property in Singapore on Sentosa Island.
In the past 10 years, Singapore has become extremely popular with HNWIs moving overseas. Singapore’s focus on luxury hospitality and high-end dining has aided this rise.
International HNWIs wishing to visit Singapore and experience its English-Asian hybrid luxury should use a safe international payments service to book experiences.
Raffles Singapore Hotel, built in 1887 and located near Boat Quay, has been refurbished and recently reopened. The hotel is home to the renowned Long Bar, a tribute to Singapore’s national cocktail, the Singapore Sling.
Some notable guests that have stayed at this iconic property include Elizabeth Taylor and Ava Gardner.
More recently, it was the backdrop for several scenes of Crazy Rich Asians, a film that adds to the luxurious appeal of Singapore’s culture.
HNWIs visiting Singapore from overseas should use a safe money transfer method so that their money is securely transferred.
HNWIs interested in experiencing the luxurious dining and hotel industry in Singapore can use our online money transfer comparison tool to compare foreign exchange rates.
