06.04.2016 - 10.04.2016
Singapore is well known for its many many shopping centres. They are honestly everywhere, and every single one is huge. I wouldn't be surprised if every retailer from all over the world has a store there.
I'm curious to know whether they all make a profit. It was interesting speaking to my friend; as we got to Orchard Road, she mentioned how she hadn't been there in ages. She doesn't need to because they've recently built a few malls much closer to where she lives and she no longer has any reason to travel across Singapore when she fancies popping to the shops.
The malls partly cater for tourists from neighbouring countries who come to Singapore to find brands they can't get near their home towns. Though I wonder how much longer this will go on since brands are increasingly expanding into surrounding territories.
Without shopping tourism, will these malls survive? Sure, young Singaporeans have more disposable income that in the past, but it's not a given that this will last (cynical, I know) and then what?
I'm intrigued. I would assume someone has done the economic forecasting to show that there will be a return on investment to building all these malls, but I can't shake the feeling that the whole scenario is a little fragile.
I wouldn't have guessed that I'd leave Singapore with an interest in their economy but I did, so I for one will be watching this space.