singapore mice industry statistics

 

Opportunities. Singapore’s Innovative MICE Industry. the Singapore MICE segment industry spend on goods and services from third parties. Retail sales grew by 5.2% in Feb 2021 compared to Feb 2020. Singapore is one of the world s top MICE (Meetings, Incentives, Conventions & Exhibitions) destination. The Singapore MICE tourism industry is segmented on the basis of Industry into retail, hospitality, transportation, entertainment and others, out of which, hospitality segment is anticipated to hold the largest market share of around 38.10% in the year 2027. industry 05 Apr 2021. This is a measure of impact of the spending by MICE segment - related employees in the local Singapore economy. From my point of view, I strongly believe that Singapore will finalize to the top spot and becoming the Best City for MICE venue in the future. Singapore’s tourism background is going through a dynamic transformation. GlobalData forecasts that international business arrivals will fall by -35.3% in 2020. In a series of PCMA COVID-19 Recovery Dashboard surveys conducted since May, on average between 40 and 50 percent of respondents said digital … The Singapore Tourism Board (STB) has announced the launch of the SingapoReimagine MICE Virtual Show, the first such collaboration between STB and local MICE players. As one of the many determined players in the Singapore MICE industry, World Express Group managing director, Darren Tan, said that while international meetings may be on hold, his team has been exceptionally busy. This region is significantly driven by emerging countries such as Singapore, China, and India. The implementation of sustainability initiatives prepares the local MICE industry to be more ready to build a more integrated business strategy, meet clients’ rising demands in this area, increase chances of building sustainability partnerships and inspire leadership in this area. Online Virtual Experience (OVE) is a brand new virtual platform that enables your MICE (Meetings-Incentives-Conference-Exhibitions) expos and events to be held digitally and online so that all of your attendees and delegates will be able to participate from the comfort of their homes.. With the safe and gradual resumption of MICE events in Singapore, Singapore Tourism Board will start accepting applications for organisers to pilot MICE events of up to 250 attendees from October 1, 2020. Singapore will host a number of sizeable business events in 2019 and beyond. Moreover, ease of visa restrictions, investments in better infrastructure, and high demand in commercial aviation further fuel the growth of the MICE industry. The MICE industry in Singapore is full steam ahead with more industries lining up to integrate technology with audience experience and engagement with hybrid and virtual events. According to Singapore Tourism Board (STB), tourism receipts from the business travel and MICE sector generated S$3.4 billion (US$2.5 billion) in the first nine months of 2018, which represents growth of 10% year-on-year. The report “Singapore Meetings, Incentives, Conventions, Exhibitions (MICE) Tourism Market Analysis 2010 – 2017 and Forecast 2018 – 2024” offers the most up–to–date industry data on the actual market situation and future outlook for Singapore MICE tourism market. Visitor arrivals grew 4% in July from a year ago, the fastest pace in nine months, with hotel occupancy rising to a record high of 94% for the month, according to data from STB. MICE stands for Meetings, Incentives, Conferences or Congresses or . Europe was dominating the industry. Asia’s intensely competitive travel industry are seeking opportunities to showcase as well as access innovative … The Singapore meetings incentive conferencing exhibitions (MICE) tourism market is segmented by industry into retail, hospitality, transportation, entertainment and others, out of which, hospitality segment is anticipated to hold the largest market share of around 38.10% in the year 2027 with a market valuation of USD 1986.9 million in the same year. The Singapore Meetings, Incentives, Conferences and Exhibitions (MICE) Tourism Market reached USD 2,523.4 Million in 2018 and is expected to attain … Singapore’s location in the centre of South-East Asia, its well-developed tourism industry, its mix of cultures, its safety, and its efficient airport make it an attractive travel destination. 2.3 Forecast Singapore MICE industry in the future. The activities of the MICE industry play a key role in the future growth for businesses, cities, destinations, and other covered spectrums. However, more can be done in the Singapore MICE industry. Visitor arrivals in the same period increased 14%, reaching two million. Excluding motor vehicles, retail sales increased 7.7%. The onset of the COVID-19 pandemic had immediate repercussions for Singapore’s MICE (Meetings, Incentives, Conferences and Exhibitions) sector. Press release - WiseGuyResearch Consultants Pvt Ltd - MICE Tourism Market 2020 Global Industry - Key Players, Size, Trends, Opportunities, Growth- Analysis to 2026 - published on openPR.com Lessons can be learnt for the global MICE industry. The importance of MICE industry for the development of tourism . The meetings, incentives, conferences and exhibitions (MICE) industry is obviously one of the most hard-hit sectors during the COVID-19 pandemic, which has then sparked a domino effect on Singapore’s tourism, hospitality, F&B sectors and tourist-dependent retailers. The activities of the MICE industry play a key role in the future growth for businesses, cities, destinations, and other covered spectrums. The keystone event for the ASEAN geospatial community, Geo Connect Asia (GCA) will be held in Singapore this year in a prototype hybrid format, providing a crucial springboard to recovery and growth for the regional geospatial community and the MICE industry, as the ASEAN economies recover from the impact of the pandemic. Geo Connect Asia 2021 will comprise both a physical event on 24th … Singapore MICE tourism market is projected to reach nearly US$ 2.5 Billion across the 20 countries covered in this report by the year end of 2021. 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