A Year of Feasting

The Peak looks back on a fruitful year for Singapore's food and drink scene, which was filled with a bonanza of high-profile openings and events.

- BEN CHIN AND KENNETH SZ GOH

If 2022 was the year of recovery for the food and beverage industry, 2023 can be best described as playing catch up. The past 12 months have been a bumper year, with a slew of high-profile openings like Cedric Grolet’s first Asian outpost at Como Orchard and establishments such as Zeniya, Sushi Takahashi, Brasserie Astoria, Cote Korean Steakhouse, and Draft Land branching out here.

The city has also played host to some of the world’s biggest wine and spirits events, including the World’s 50 Best Bars ceremony, held outside of Europe for the first time. With travel back in full force, chefs and bartenders around the world travelled freely, which led to a bonanza of multiple-hands collaborations and guest shifts. Despite perennial challenges such as manpower woes and rising rents, restaurants mushroomed across Singapore, especially with Japanese omakase restaurants popping up continuously.

Based on business registry statistics from the Accounting and Corporate Regulatory Authority, over 2,800 F&B business entities were formed in the first three quarters of 2023. However, the turnover rate of restaurants is equally high, with more than 2,000 closures over the same period. With a weakened economic outlook for next year, rising inflation, and a growing priority on travelling, consumers are more cautious about their local dining budgets. Restaurants are bracing themselves for an economic slowdown next year as the demand for fine-dining recalibrates.

We take stock of this year’s highlights in food and drink.

1. GROWING DIVERSITY IN SINGAPORE’S FINE-DINING SCENE