Chart of the Day: Clothing and footwear spending to expand 4.9% by 2024

Each Singaporean is expected to spend $928 yearly on apparel in 2020.

This chart by Fitch Solutions shows that clothing and footwear spending in Singapore is expected to progressively grow over the period of 2020-2024, with consumer spending on apparel expected to expand by 4.9% in 2024.

Singapore is also estimated to record the fourth highest clothing and footwear spending per capita in Asia at $928 per annum.

Fitch reports that Hong Kong residents spend the most per capita on clothing and footwear spending, shelling out $8,347 per annum. Macau followed with a total spending of $1,347 per year, whilst South Korea rounded up the top three at $967 per annum.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley