Grab contributes $5.2b to Singapore's economy in 2023

Merchant-partners on the GrabFood and GrabMart platforms contributed $900m through their sales, whilst driver and delivery partners accounted for $3.1b.

Ride-hailing firm Grab's on-demand services contributed $5.2b to Singapore's economy in 2023, or around 0.8%, of the country’s GDP, according to Oxford Economics.

In its report, Oxford Economics said Grab’s operations directly generated $1.2b, primarily through employment and services provided by corporate offices and external vendors.

Additionally, merchant-partners on the GrabFood and GrabMart platforms contributed $900m through their sales, whilst driver and delivery partners accounted for $3.1b.

Grab’s services supported an estimated 117,000 earning opportunities across different supply chains, contributing $2.5b in household income.

The report also noted that for every $10 of GDP generated by Grab transactions, an additional $6 of economic activity was created in the broader economy.

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