Singapore's strategic location between the West and the East has allowed it to become a heavyweight in global and regional affairs, making Singapore a natural home for Swedish companies in Southeast Asia. In 2024, Singapore hosts over 300 Swedish companies, making it one of the highest concentrations of Swedish companies in the Asia Pacific region.
There are a variety of elements that contribute to Swedish companies’ success in Singapore. Matching to last year’s survey, the most dominant factors named this year are brand awareness, partnerships/relationships, and sales competence.
This year, 79 per cent of respondents stated that the Swedish brand has a positive impact (Partially/Much/Very much) on their business, which is consistent with the results shown over the past three years.
In 2021, Singapore announced its Green Plan to advance the national agenda on sustainable development towards 2030. This new focus on sustainability and developing Singapore’s circular eco-economy may create more opportunities for Swedish companies, especially with many companies leading in sustainable development within their industries. This is where Swedish businesses can bring substantial value, offering high-quality, sustainable solutions with world-class levels of green innovation.
We are happy to share that Swedish companies remain optimistic about the business climate in Singapore and are increasing their use of Singapore as a strategic location, not only for sales and marketing but also for R&D and as a regional management hub.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
In 2024, the Business Sweden Climate Survey was conducted by Business Sweden in Singapore for the seventh consecutive year. The survey was completed in Q1 2024, with a total of 94 Swedish companies participating, including large, mid-sized, and small companies.
The absolute majority of the questions in the survey are the same as those used in previous years' surveys, allowing for comparisons over time. A few market-specific questions for Singapore have been added to this year’s survey, focusing on Swedish companies' regional supply chain diversification and changing presence in Asia to/from Singapore.
We want to extend our gratitude to the 94 participating companies and respondents who shared their time and insights with us. Your contributions will support the success of this report and Business Sweden’s and the wider Team Sweden´s efforts to continue accelerating business growth and sustainable development.
