STB Unveils Key Initiatives to Spur Growth in the MICE Industry
"Ignite": BTMICE Global Marketing and Advertisimg Campaign
And "Be In Singapore" Incentive Scheme
Press Conference and Official Opening
Red Dot Museum
2nd August 2006

The Singapore Tourism Board (STB) today launched a set of initiatives to propel the growth of the MICE (Meetings, Incentive Travel, Conventions and Exhibitions) industry to meet the targets envisioned for the Business Travel & MICE (BTMICE) sector in the Tourism 2015 strategic blueprint and to establish Singapore as the Exchange Capital of the World.

Held at the Red Dot Museum, the launch was officiated by the Minister for Trade and Industry, Mr. Lim Hng Kiang, and attended by some 400 guests from the industry, media and public sector.

The new initiatives mark a milestone in the STB's efforts to rally the industry partners here 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.

With new developments such as the Marina Bay Sands and the re-development of the Marina Bay area into an integrated, compact and vibrant MICE location that will offer 200,000 sqm of convention and exhibition space, as well as appealing leisure options, the stage is set for the STB to partner the industry to concertedly and aggressively bid, attract, create and grow strategic business events.

Amidst intensifying competition for the MICE dollar, Singapore needs to differentiate itself beyond its current value proposition. In defining the new value proposition, Mr Lim said in his speech: "Singapore needs to move beyond being merely an efficient and effective venue. We must become a catalyst for business success. Singapore aspires to be an exchange capital where talent, technology and ideas converge to create synergistic value for both business events and visitors."

Echoing his comments, Mr Aloysius Arlando, Assistant Chief Executive, Business Travel and MICE Group, Singapore Tourism Board said: "Singapore seeks to bring value to business events through leveraging our key industries, pro-business environment and global connectivity. Our goal is to be a top MICE destination which offers MICE visitors many opportunities to exchange ideas, network, explore business prospects, and develop human capital."

"We need to tap into our strategic location, cosmopolitan and vibrant tourism offerings, and extensive global connectivity to deliver value and enriching experiences to all business visitors. Corporate end-users and decision makers who choose Singapore as the venue for their business events will also stand to gain from a dynamic and pro-business environment which leverages a strong economic base comprising key industries that are pivotal to the success of MICE business," added Mr Arlando.

The BTMICE sector accounted for approximately 30 per cent or SGD 3 billion of total tourism receipts in 2004. STB aims to substantially raise its contribution to at least 35 per cent or SGD10.5 billion by 2015. This translates into an average annual growth rate of 15% over the next ten years.