18-4-2024 (SINGAPORE) With business events booming in the Republic, Singapore is aiming to cement its position as the world’s premier destination for MICE (meetings, incentives, conventions, and exhibitions) events – a hub where such gatherings can leave a lasting legacy of positive impact.
The Singapore Tourism Board’s (STB) global campaign to position the country as the “World’s Best MICE City” was first unveiled in late March and reiterated at the inaugural edition of The Meetings Show Asia Pacific on April 17 at the Sands Expo and Convention Centre at Marina Bay Sands.
The trade show, which is being expanded beyond Britain for the first time since 2013, expects to welcome over 1,000 MICE industry professionals over two days, underscoring Singapore’s rising prominence in the sector.
According to Mr. Poh Chi Chuan, STB’s executive director of exhibitions and conferences, “business is booming” in the MICE space, with attendance at many locally held business and travel events already outperforming pre-pandemic numbers.
In February, the Singapore Airshow – returning to its full-scale form after six years – attracted almost 60,000 trade attendees, eclipsing the previous record set in 2018 by 10 percent. Similarly, the 18th edition of the Asia Pacific Maritime conference in March saw its highest attendance yet, with over 15,700 participants.
“One of the key reasons is that it is no longer about pent-up demand,” Mr. Poh told The Straits Times on the sidelines of The Meetings Show conference. “Asia has a lot more growth potential compared with other regions, and shows that are embedded (here) and are relevant to Asia are beginning to see the positive overflow coming from the market potential.”
He expressed optimism about the strong demand, adding that STB’s new campaign is an open call for like-minded industry partners to work together and enhance the value proposition of their events, making them “both more relevant and a catalyst for good.”
To empower businesses, the tourism board is developing a “legacy toolkit” that will provide a clear framework for planning, executing, and measuring the legacy outcomes or impact of an event. The toolkit, which will also include case studies and information on STB’s support offerings, is slated for launch by June.
Mr. Poh cited recent events such as Asia Tech x Singapore and the formation of the Singapore-based AI Verify Foundation in 2023, which brought together over 60 global tech players, including Google and Microsoft, to tackle pressing issues related to artificial intelligence. The foundation aims to develop AI standards and best practices, creating a neutral platform for collaboration on AI governance.
“The impact of such events is not just on Singapore, but for the wider tech community,” said Mr. Poh, highlighting the growing demand from industry members and associations who “want to be involved in an event where it can lead to positive change.”
Singapore’s push for the top MICE destination will encompass not only large-scale events but also a “balanced diet” of events of all scales, he said. It is also the first of six global campaigns that will be rolled out by STB, including those positioning Singapore as a family playground and culinary capital.
Business events held in Singapore can draw on a $300 million Tourism Development Fund announced by the Ministry of Trade and Industry in March 2024. The fund aims to help develop and market new products and experiences and support local businesses in developing new intellectual properties.
The global MICE industry is estimated to register an annual growth of 7.2 percent from 2023 to 2032, surpassing US$1.7 trillion (S$2.3 trillion) by 2032, according to a 2023 report by Precedence Research. In the Asia-Pacific region, the industry is set to expand at an even higher annual growth rate of 7.4 percent over the same period, accounting for almost half of the global market share by 2032.
Singapore’s tourism sector has continued to post strong recovery, driven by global flight connectivity and capacity, and the implementation of the mutual 30-day visa-free travel between China and Singapore, noted STB deputy chief executive Yap Chin Siang. In March, international visitor arrivals reached 1.48 million – or 95 percent of pre-pandemic levels.
Business travel continues to be a driver for this growth, exemplified by the expansion of The Meetings Show to Asia for the first time. Mr. David Blansfield, executive vice-president and group publisher of Northstar, the conference’s organizer, said its Asia edition will return in April 2025 and serve as the anchor event for Northstar Travel Group in the future.
“When planning a meeting, you want the best for your stakeholders – the best hotels, the best venues, the best infrastructure, the best commitment to service at all levels,” said Mr. Blansfield. “We wanted the best for the Meetings Show Asia Pacific, and that is why we brought it to Singapore.”
