The credit bureau coverage in Singapore has seen fluctuations over the years. As we stand in 2023, the coverage is 68.9 of the adult population. The year-on-year growth in 2023 was 1.62%. Observing the last two years, 2022 had a growth of 1.8% while 2021 was at 1.68%. Analyzing the period from 2019 to 2023, the Compound Annual Growth Rate (CAGR) was 2.5%. Despite the variations, the overall trend exhibits a moderate upward growth trajectory.
Forecasting to 2028, the coverage is expected to reach 74.1%. The forecasted five-year CAGR is 1.14%, translating to an aggregated growth rate of 5.86%. This emphasizes a steady but modest rise in credit bureau coverage.
Future trends to watch for include the impact of economic policies on credit access, advancements in financial technology, and potential regulatory changes that could further enhance or disrupt credit bureau coverage.
