Wealth management, co-living spaces, AI chatbots among fastest-growing businesses in Singapore

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The Straits Times 1d ago

Wealth management, co-living spaces, AI chatbots among fastest-growing businesses in Singapore - The Straits Times

Quick Summary:

Firms in e-commerce, hospitality and travel, and retail sectors also saw growth, among others.

The three-year period between 2020 and 2023 coincided with volatile interest rates and changing risk appetites both during and immediately after the pandemic, which likely increased demand for professional wealth planning and financial advice.

Casa Mia Coliving, which targets young professionals as its key clientele, saw its revenue surge by around 27 times between 2020 and 2023 to $5.5 million, while Singapore-based TAP grew its revenue to just over $15 million over the three-year period, which is up by more than 15 times.