Singapore’s gym industry could consolidate further, especially in central areas, say observers

SINGAPORE’s wave of gym closures is not over yet. More casualties are expected in central areas, where rents are high, and office crowds have dwindled, market watchers and players say.

“The industry is going through a period of consolidation,” Sean Tan, president and co-founder of the Singapore Fitness Alliance (SFA), told The Business Times.

“We’ll be seeing stronger players emerge from this; the weaker ones will fall away, but this is natural attrition in any industry.”