Economic growth projected to slow to 2.2% in 2026: report

As unemployment rates, population growth, interest rates, amongst others, will see moderate activity.

Singapore’s GDP is projected to grow 3.5% in 2025 before slowing to 2.2% in 2026.

This is due to predicted moderate activity in unemployment rates, population growth, retail sales, international visitor arrivals, and interest rates, amongst others, Cushman & Wakefield said in its Singapore Market Outlook 2026.

The unemployment rate will be the same as this year’s level in 2026 at 2%.

Population growth will decline slightly from 0.7% this year to 0.6% in 2026.

Cushman & Wakefield forecasted lower Interest rates and moderate inflation in 2026 at 1.3% and 1.1%, from 1.8% and 0.3%, respectively.

Real retail sales growth, meanwhile, will rise from 2.4% to 2.9% the next year.

International visitor arrivals are seen to moderately increase to 17.5 million to 19 million next year from 17 million to 18.5 million this year.

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Cushman & Wakefield

Singapore economy

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