Awaiting 2024 With Trepidation


IF 2022 was a challenging year emerging from a post-covid funk, how does 2023 compare?

It’s been an eventful year with hostilities escalating into wars around the world and geo-political tensions creating global tensions. The threat of economic uncertainties and global warming also hang heavy in the air.

That hasn’t stopped everyone in their tracks, though. The spirit of innovation has continued unabated.

On The Rise

Generative AI is making its presence felt, even in places you haven’t looked yet. Expect sharper data analysis and greater efficiency and personalisation to be introduced in due course. But what does that mean for the job market? New skills will be needed. Outdated jobs will be swept away.

Meanwhile, the benefits of working from home and virtual meetings are getting a rethink as companies rein in the freedom and corral the employees back into cubicles.

Things are on the rise in Singapore.

Rising costs are a cause for concern — for businesses and the public.

GST is going to rise again, adding more cost burdens that will be passed on down to the consumer in all likelihood.

COEs rose to an all-time high, breaching $150,000 for the permission to get a car that will last you for just 10 years.

There is going to be a power transfer as a new PM steps up to bat. The East Coast Plan has finally been revealed. Long Island will result in a reservoir and 800ha of reclaimed land. What does that mean for the property market and Singapore’s ecology? What sort of population figure is Singapore chasing?

The ageing population is on the rise, posing its own set of pressures on a super-aged society.

Views From The Ground

There’s much more besides. But what left a strong impression on you?

STORM-ASIA talks with decision makers from different industries to get a sense of how they have taken the goings-on of 2023 in their stride and what will continue into 2024. What is there to look forward to?

From telcos to automotive, governance to healthcare and media and advertising, the opinions are consistent and the expectations for 2024 are different.

Their opinions will be featured in the final week of 2023 and will hopefully present you with some ideas about how to plan the year ahead.


What Can Go Wrong? Lim Soon Hock talks about governance and the must-do items for 2024 and beyond.

Improving The Offering. Renee Chua, Managing Director of Rolls-Royce Motor Cars Singapore talks about seizing new advantages.

Coping With The Hot Winds Of Change. Ku Swee Yong, Director of International Property Advisor looks at the planetary movements and cautions against the impact of political storms.

Rising Costs And Competition. Stuart Tan, CEO of Zero1 says the water this year has been bloody as competitors in the Mobile Virtual Network Operator vie for business.

New Approaches Needed. Bernard Chan, CEO of the Association of Advertising & Marketing Singapore has seen the industry go through tremendous change as new virtual tools force a major rethink of strategies.

Honing The Competitive Edge At McLaren. Paul Harris, Managing Director — Asia Pacific, of McLaren Automotive has a faithful customer base eagerly awaiting the latest models of its sports cars.

Business Nips And Tucks. Dr Yanni Xu of The Urban Clinic has to restrategise for 2024 as the challenges of the post-covid world opens up the market to more  competition.

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