The data, released in a recent survey by the Singapore Business Federation , highlights growing interest in Southeast Asia, with Vietnam and Indonesia leading as top destinations , followed closely by Thailand .
However, enthusiasm for expansion into traditional markets has waned. Notably, Malaysia saw a 10% drop in interest, from 29% in 2023 to 19% in 2024, while China recorded a 5% decrease, with just 17% of Singapore businesses planning to enter or expand there this year. Looking forward, 56% of businesses expect international revenue to grow over the next 12 months, with only 6% anticipating a decrease. Alongside this optimism, 30% of businesses are planning direct investments in foreign markets to secure their foothold.
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