Singapore (VNA) – Singapore’s digital economy contributed nearly 20%, or about 128 billion SGD (99.07 billion USD), to the country’s gross domestic product (GDP) and created 214,000 technology jobs in 2024, according to the Infocomm Media Development Authority (IMDA).
The IMDA said Singapore’s digital growth was driven not only by tech companies but also by digitalisation across all industries. Despite a cautious hiring outlook in the global and domestic technology sectors last year, the number of tech professionals in Singapore continued to grow, from 208,300 in 2023 to 214,000 in 2024.
Job roles related to artificial intelligence (AI), data, and cybersecurity recorded the fastest growth in 2024. The increase in tech professionals was mainly driven by sectors outside information and communications, which posted a 3.9% rise in tech jobs, outpacing the 1.1% growth within the information and communications sector.
Overall, tech jobs accounted for 5.3% of total employment in 2024, up from 5.2% a year earlier. The growing adoption of AI by companies has fueled demand for AI skills, with tech job postings requiring AI expertise rising from 11% in 2019 to 14% in 2024.
The IMDA noted that salaries for tech professionals are expected to continue rising in 2025, after increasing 13.6% year-on-year in 2023. The median monthly salary for resident tech workers stood at 7,950 SGD, compared to 4,860 SGD for general resident workers in 2024.
AI adoption also surged across all sectors last year. The information and communications and professional services sectors recorded the highest AI adoption rates at 36% and 26%, respectively, followed by finance and insurance at 23%. Among small and medium-sized enterprises, AI adoption more than tripled to 14.5%, while larger firms saw rates jump from 44% to 62.5%. AI use helped businesses cut costs by an average of 52%, and up to 71% for those applying AI-powered cybersecurity solutions./.
