Your presence and commitment to PWS at ProWine Singapore have been essential to us. It is now the perfect opportunity to share some key #figures on the Singaporean #market.
#Singapore has seen a remarkable expansion of over 300% since 2001, and forecasts suggest it will become the fourth-largest #economy in the world by 2030. Often described as the #crossroads of Southeast Asia, presents itself as an economic hub, especially in the wine trade. Indeed, Singapore is a market where there are many #opportunities for growth, and development for wine players around the world, thanks to its economic, regulatory, and strategic position in #Asia.
Singapore is located in a region that is the third most #dynamic in the world, after China and India, offering exceptional growth prospects for consumer markets. This region is characterized by its #diversity, with a population exceeding 700 million inhabitants, or nearly 10% of the world’s population. The emergence of a wealthy class is notable, estimated at between 40 and 60 million individuals, with more than 7 million millionaires in the region. These elements highlight a huge market #potential for quality products, including wine, offering a unique opportunity for #international traders like PWS to meet rising demand.
Indeed, Singapore imports all of its #wines, with a significant share, or 60%, coming directly from France. This feature highlights not only the preference of Singaporean consumers for French wines but also the confidence of importers in the quality and reputation of these products. In addition, Singapore re-exports 59% of these imports to other Asian markets, creating a dynamic market. This re-export capability highlights Singapore’s position as a crucial logistics and trade hub, facilitating access to #emerging markets in Asia for international wine producers.
Our commitment at PWS is to provide exceptional French wines, and we value each market for its #unique opportunities.
