27 MAR 2023
SINGAPORE – Rising rents and costs amid inflation have led to European businesses operating in Singapore consider shifting operations out of the country, while employees exhibit visible anxiety and psychological distress over the higher residential rental costs.
These were the findings of a survey released last Friday. It had been conducted by the European Chamber of Commerce in Singapore (EuroCham) to assess the extent and severity of the impact of rising rental costs on business operations here.
The survey in March polled 268 businesses in total, with respondents employed by companies of all sizes.
EuroCham is an independent non-profit organisation representing the common interests of the European business community and promotes bilateral trade, services and investments among Europe, Singapore and the region.