In the third quarter of 2024, Singapore’s corporate services sector demonstrated robust growth and resilience. The RegTech industry, which focuses on regulatory technology solutions, is projected to expand by 25.6% year-on-year, reaching US$178.92 million in 2024. This growth is attributed to the increasing adoption of advanced technologies and a favorable regulatory environment.

Additionally, business receipts in the service industries, excluding wholesale trade, retail trade, accommodation, and food services, rose by 12.7% year-on-year and 4.8% quarter-on-quarter in Q3 2024. This indicates a strong recovery and sustained demand across various service sectors.