Hotel prices surge, restaurants packed as CEOs head to Singapore for major summits

Hundreds of executives and investors are expected to take part in a series of high-profile events, including SuperReturn Asia and the Forbes Global CEO conference

While Covid curbs continue to hinder large in-person gatherings in rival financial hub Hong Kong, Singapore has mostly returned to pre-pandemic life

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Tourists visit the Gardens by the Bay in Singapore. Photo: Xinhua

Published: 2:06pm, 16 Sep 2022

Deal makers, fund managers and CEOs are flocking to Singapore for a slew of high-profile conferences this month, as the city state burnishes its credentials as a major global financial centre.

While Covid-19 curbs continue to hinder large in-person gatherings in rival financial hub Hong Kong, Singapore has mostly returned to pre-pandemic life with indoor mask rules loosened last month.

Business is booming – hotel room rates are at a decade-high, conference venues have been booked for weeks and restaurants are packed.

“We have had a funny two years being locked down and isolated from our peers, so the in-person conferences feel like a small step back to normality and a big step back into humanity,” Rachel Lau, managing partner at Southeast Asian-based investment firm RHL Ventures.

The first of these events starting Monday is SuperReturn Asia, an annual private equity and venture capital industry conference being held in Singapore for the first time instead of Hong Kong as usual.