i think it's simply a matter of economic scale.
singapore has 4,608,167 people, of which the retiree group of 50-80 year olds, have the largest spending power. they make up roughly 1/3rd of the population.
so what generates growth in industry?
Simply, an increase in market demand. This will result in either:
1) an increase in supply to meet the demand, in cases where the supply is elastic, or
2) an increase in prices where the supply is inelastic.
In art, entertainment, and all other industries that have the "cool" factor, there is a lot of competition because a lot of people love the glamour that comes with being an artist or musician or DJ or film producer, as opposed to saaay running the company that collects your rubbish every morning (even though SembCorp's CEO makes way more than anybody in the radio industry).
So now we know the supply is very elastic - for every starving artist who fails, there are 10 who pop up eager to take his/her place.
And, people are willing to invest in art only during periods of economic growth, because art is a luxury. When an economic downturn begins, the first things people will stop purchasing are art pieces, concert tickets, and generally things they can live without. This demonstrates that the demand is VERY elastic.
Let us, for the purposes of this argument, assume that the economy is at its best, and demand for art will be at its highest. The question now is, is there enough demand to sustain this supply? Does that 1/3rd of the Singapore population with spending power care enough about your work to purchase it so that you earn enough to survive on it?
If you take half the population with spending power to be humanities-inclined, and half to be disinterested in the arts, that's 50%.
Now if you take that 50% and 1/4 are willing to invest in thespian pursuits, 1/4 in music, and 1/4 in literature, and 1/4 in art, that's 12.5% who have spending power, who are interested enough in art to invest in it.
So 12.5% of 1/3rd of Singapore's population is approx 191,667 people who will consider purchasing your art. Also take into account that the percentage purchase rate is nowhere near 100%, and you have a population size that is by default not large enough to sustain an entire industry.
And this is when the economy is assumed to be doing its best. Obviously if the economy is doing badly, this population size that is willing to consider purchasing art will shrink even more.
In conclusion, our population size cannot, even during the best of times, sustain without external aid, the local art industry in Singapore.
This is nobody's fault. It's just simple economics.
(it as nothing to do with mental capacity for appreciating art, that's such an extraordinarily pompous statement that it blinds me with its sheer stupidity)