Singapore – STB Sees a Drop in Meetings & Events

Singapore Tourism Board (STB) has reported a drop of 12% in Meetings Incentives Conference and Exhibition (MICE) visitors in the first half of 2015. The significant drop in figures saw a worse performance for the tourism sector as a whole over the period.

Throughout the same period international visitors dropped by over 3%, tourism declined by 12% and hotel rooms declined by 2.2%. The figures are in stark contrast to the ongoing plans by the STB to increase MICE visitors to the city and keep their position as the no.1 MICE hub in the region.

Executive Director for STM, Chew Tiong Heng said, “Macroeconomic factors have had a strong impact on Singapore, in particular economic uncertainties in some of our top markets for business travel and events and the strength of the Singapore currency,” “Moving forward, the pipeline for MICE events remains strong and will remain a significant and steady contributor to tourism, and 2016 will see Singapore host another robust line-up of events, conferences, meetings and incentive travel programmes,”

There has been strong growth in the MICE figures throughout second tier destinations in China, Bali and there has been a resurgence from Australia, Seoul and Tokyo. This is a highly competitive market at present and the figures have led analysts to speculate as to whether Singapore can still entice business events in the same manner which they used to.

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