Singapore, a Great Place in Asia for Luxury Wines

In Singapore, the 11th edition of WSA (Wine & Spirits Asia) may deliver this week a positive message to luxury wine estates: The Lion City offers great opportunities for expensive wines.

In fact, when the subject comes to Asia and luxury wines, some estate owners only think about China and Hong Kong. Asia has other interesting markets for expensive wines including South Korea and Singapore. Wine drinkers in Singapore are definitely getting increasingly sophisticated, and wine consumption is going up.

People in Singapore have a mature palette in general and wine lovers have been collecting wine for over a decade. The importance people place on wines is increasing and it is not rare to find wine cellars in their home. And Singapore’s expatriate population (about 150,000 Westerners) is just a contributing factor for growth in this market.

Studies show that Singaporean wine consumers are mainly in the middle to upper income bracket and that they tend to be mostly Chinese, aged between 25 to 50 years old. Add to this, 10 million tourists a year, wine cellars, boutiques and duty free shops at Changi Airport, and estate owners may understand the great opportunities of this market for luxury wines.