The Singapore Tourism Board (STB) is leading a contingent of 13 industry players from the hotel, travel trade and MICE industries to showcase the MICE and leisure offerings that Singapore has to offer at…
The Singapore Tourism Board (STB) is leading a contingent of 13 industry players from the hotel, travel trade and MICE industries to showcase the MICE and leisure offerings that Singapore has to offer at The Global Meetings & Incentive Exhibition (EIBTM), Stand No E650, from 28 – 30 November 2006, in Barcelona, Spain.
On Tuesday 28 November, Mr Aloysius Arlando, Assistant Chief Executive of the Business Travel, and Meetings, Incentive Travel, Conventions and Exhibitions (MICE) Group (BTMICE), Singapore Tourism Board (STB), will helm an international press conference to announce the STB’s initiatives to propel the growth of the MICE industry’s tourism revenue from the current 30% of the total tourism receipts, worth €1.5 billion, to 35% (or SGD10.5 billion) by 2015. This translates into an average annual growth rate of 3.5 times over the next ten years.
The new initiatives, which include a new incentive scheme called “BE in Singapore” or “Business Events in Singapore” mark a major milestone in the STB’s efforts to rally the industry partners in Singapore and abroad to drive growth in the volume and calibre of business events staged in Singapore, and to capitalise on the opportunities brought about by the transformation taking place in Singapore’s MICE landscape.
Mr Aloysius Arlando said: “To achieve the targets for the BTMICE sector in the STB’s Tourism 2015 strategic blueprint, Singapore must go beyond merely being a choice venue for business events and provide a new value proposition that seeks to catalyse business success. Singapore aims to be a global exchange capital where people, technology and ideas converge to create value for business events and visitors.”
Singapore is still celebrating its success in hosting the prestigious 2006 Annual Meetings of the Boards of Governors of the International Monetary Fund and the World Bank Group in September, known as ‘Singapore 2006’. A record number of 20,000 local and international delegates took part in the meetings and peripheral business events organised by global banking and financial institutions. The choice of Singapore as the location for the IMF and World Bank Group Annual Meetings was in recognition of its world-class financial sector, its pro-business environment and excellent infrastructure. With over 7,000 multinational companies based in Singapore, the city-state continues to top the rankings among the world’s business hubs. The World Bank Report, Doing Business in 2005, placed Singapore first in Asia, and third in the world, for the ease of conducting business in the city-state. Singapore was ranked the world’s second Top Convention City, as well as Asia’s Top Convention City by the International Convention and Congress Association in its 2005 global rankings.
It is estimated that the IMF – World Bank Meetings generated almost €50 million in economic spin-offs for Singapore in the form of contracts, business opportunities, tourism and retail receipts and spending by financial institutions. They also helped to contribute to 7.4% increase in visitor days in September 2006 over the same period last year.
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