While luxury spending cools in major markets like China and the U.S., Singapore is bucking the trend. With over 240,000 millionaires and a surge in affluent tourists, luxury sales in the city-state are set to rise 7% in 2025 to S$13.9 billion, outperforming Japan, South Korea, and even China.

From invitation-only events to exclusive styling lounges, brands are doubling down on personalization. Singapore is now being used as a “controlled launchpad” for retail innovation across Southeast Asia.

As Jonathan Siboni, CEO of Luxurynsight, puts it:“Singapore has proved to be a very stable place for wealthy people. That has created a very strong local base for the luxury market. Singapore is an oasis in the desert.”

Its political stability, pro-wealth environment, and East-meets-West consumer base are making it a safe haven for luxury investments in an otherwise uncertain landscape.

Thank you, Audrey Wan, for the mention!