Swift's Singapore Concerts Boost Q1 Growth Forecast to 6-Quarter High, But Outlook Still Fragile

Economists upgrade Singapore's Q1 GDP growth forecast to 2.9%, fastest in 6 quarters, partly due to Taylor Swift's concerts
Concerts estimated to add $300M-$400M (0.2% of GDP) from hospitality, retail, food & beverage sectors
Events like Swift's concerts bolster Singapore's position as a vibrant events hub and grow tourism long-term
HSBC economist expects 2023 GDP at 1.1% but sees turnaround in 2024 from trade recovery and travel-related services
Despite upgraded forecast, outlook remains fragile amid tight global rates; upside risks to inflation remain