Singapore, 15 July 2024 – The Singapore Beer Industry Association (SBIA) has unveiled its 2024 whitepaper, shedding light on the significant impact of the beer industry on Singapore’s economy and society. With a remarkable annual contribution of SGD 1.5 billion and the creation of over 1,200 jobs, the beer industry stands as a vital economic pillar.
The SBIA, comprising major international brewers like Asia Pacific Breweries Singapore, Carlsberg Singapore, and Anheuser-Busch InBev, champions the growth of the beer industry, underscoring its contribution to social and economic progress in Singapore.
To gauge the industry’s impact, the SBIA conducted a comprehensive survey involving 600 Singaporean citizens and permanent residents, complemented by focused group discussions. Additionally, in-depth interviews with expatriates, tourists, F&B operators, and retailers were conducted to provide a holistic view of the industry’s influence on various sectors.
Prepared by Aroca Consulting Group, the whitepaper reveals that the beer industry stimulates additional economic activity, indirectly supporting sectors such as Food and Beverage (F&B), hospitality, and tourism. These industries collectively enhance Singapore’s GDP by SGD 13 billion, sustaining over 265,000 jobs in the local workforce.
Beer: A Catalyst for F&B and Tourism
Food and beverages, including beer, play a pivotal role in shaping cultural experiences, driving the growth of Singapore’s gastronomic scene. In 2022, beer sales reached a staggering 134 million litres, with projections to hit 140 million litres by 2025. Beer’s integral role in Singapore’s culinary culture is undeniable, fostering a vibrant tourism landscape.
However, the F&B industry faces challenges with rising living costs and increasing taxes potentially impacting consumption habits. Interviews with tourists highlighted concerns over high prices of food and beverages, particularly alcohol, which may dampen demand if prices continue to rise.
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According to the public perception survey, 77% of respondents believe that a thriving F&B sector is crucial for attracting tourists and sustaining a robust local economy. Concurrently, 74% of respondents perceive alcohol as somewhat expensive in Singapore. The COVID-19 pandemic has shifted consumption habits, with 51% reporting increased home drinking, partly due to pandemic-induced habits and the rising cost of dining out.
Shaping Social Dynamics in Singapore
Globally, brewers have enriched local communities by offering quality products and fostering social and cultural experiences. The public perception survey indicates that beer remains Singapore’s most popular alcoholic beverage, with 75% of respondents naming it their favorite drink.
Beer’s unique ability to connect people from diverse backgrounds has made it a cornerstone of Singapore’s local culture, enjoyed at various venues and major events like Beerfest Asia, Oktoberfest, and the Singapore Grand Prix. Its lower alcohol content and widely available zero-alcohol options promote responsible consumption and social interaction.
Reinoud Ottervanger, Chairperson of the SBIA, remarked, “Beer is more than just a beverage; it’s no wonder it stands as the most beloved alcoholic drink. Beyond the excellent brew, beer has the remarkable power to bring people together, spark conversations, and create unforgettable moments. I am proud to be part of an industry that represents the spirit of togetherness, fostering economic growth, social harmony, and environmental stewardship. We will continue to raise the bar for what a responsible and sustainable industry can achieve.”
As the Singapore beer industry continues to thrive, its contributions to economic growth, social cohesion, and environmental responsibility remain undeniable, positioning it as a vital component of the nation’s vibrant landscape.
About Singapore Beer Industry Association (SBIA)
The Singapore Beer Industry Association (SBIA) is a non-profit organization founded in 2018 to advocate for and represent the interests of Singapore’s beer industry. The association includes prominent beer brand owners such as Asia Pacific Breweries Singapore, Carlsberg Singapore, and Anheuser-Busch InBev. SBIA serves as a platform for policy advocacy, focusing on the beer industry and related issues.
SBIA is dedicated to fostering a thriving ecosystem within the food and beverage, hospitality, and retail trade sectors in Singapore. It actively works towards reducing alcohol misuse and promoting a responsible drinking culture through an inclusive and collaborative approach with the government and key industry stakeholders.
