Business Travel to Singapore Increases

The latest Singapore’s Overseas Visitors Survey (OVS) reveals that business visitors in 2010 made up about 27 per cent of the 11.6 million visitor arrivals to Singapore and an estimated 40 per cent of total expenditure.

This represents increases of 21.4 per cent and 27.5 per cent respectively over 2009, marking a broad-based recovery for Singapore. A dramatically transformed landscape provides the stage for this resurgence with 108 new and inaugural business events held last year, and event attendance growing at an average of 15 to 20 per cent.

This sterling performance in the business sector comes amidst 2010’s record tourism performance numbers which saw Singapore emerging from the economic crisis with a groundbreaking 47 per cent increase in Tourism Receipts and approximately 19.5 per cent increase in Visitor Arrivals over the previous year – a result of strong global economic recovery led by the regional economies, a rebound in the global travel industry, and the opening of new tourism offerings in the city.

Identified by the World Bank as the world’s easiest place to do business for five consecutive years in 2011 and clinching the Union of International Associations’ (UIA) Top International Meeting City award for the third consecutive year in 2009, Singapore’s tourism industry is now well on track and poised to maintain a healthy outlook in the year ahead. In a recent Meetings, Incentive Travel, Conventions and Exhibitions (MICE) Market Monitor study conducted by TMF Dialogmarketing GmbH among the German speaking markets, Singapore was ranked sixth among preferred destinations outside Europe.

Affirming Singapore’s growing status as a thought leader and knowledge capital, the American Society of Association Executives (ASAE), in collaboration with Messe Berlin, Ace:Daytons Direct and Suntec Singapore, with the support of the Singapore Tourism Board, will organise Associations Day at ITB Asia. Associations Day is the only conference within a major travel trade show in Asia that focuses on association meetings, and offers delegates the chance to meet like-minded association peers from around the world. This year’s edition will present valuable learning opportunities on the Asia-Pacific region, featuring respected association speakers and unique networking events.

The inaugural Associations Day in 2010 saw a turnout of 103 participants hailing from 18 different countries. 70 of the participants were association members, and more than 20 were trade partners. The event was a clear success, with participants expressing satisfaction with the strong content presented by international speakers and panellists from the association.

Associations Day will be part of an exciting and ever-growing line-up of programmes under TravelRave 2011, Asia’s only Mega Travel and Tourism Festival. TravelRave brings together the entire spectrum of players and business events in the travel and tourism value chain, from travel trade and investment, to leadership forums and awards. The inaugural edition in 2010 saw over 8,000 participants leveraging industry expertise, partnerships and networks to pave the way in building effective channels for the meaningful exchange of knowledge and best practices. This year’s TravelRave will take place from 17 to 23 October 2011.

In addition to TravelRave, Singapore offers a busy calendar of exciting business events such as the IAAPA Asian Attractions Expo (June 2011), which will be held in Singapore for the first time, the 13th Asia Pacific Life Insurance Congress (July 2011), the 15th Asia Pacific Retailers Convention andamp; Exhibition (October 2011), the 11th World Chinese Entrepreneurs Convention (October 2011), the 20th World Orchid Conference (November 2011) and the first-everIATA International Aviation Human Capital Summit (November 2011). Beyond 2011, Singapore will host the International Council for Commercial Arbitration (ICCA) Conference 2012 and the 16th Baptist Youth World Conference 2013, among others.

Singapore’s business travel sector is also set to maintain a positive outlook for 2011. According to the UN World Tourism Organisation, Asia and the Middle East are expected to lead the growth in international tourist arrivals, with both regions forecasted to grow at an average rate of seven to nine per cent. The National Business Travel Association also projects international business travel expenditure to grow and exceed US$1.2 trillion by 2014, with a similar forecast in the volume of business travellers.

Within this buoyant environment, Singapore itself has further cause for cautious optimism with the opening of the two new integrated resorts of Marina Bay Sands and Resorts World Sentosa, and upcoming new projects like the International Cruise Terminal, River Safari and Gardens by the Bay. Over the next few years, all these projects will greatly expand Singapore’s existing repertoire of experiential options and strengthened its ability to service the Business Travel and MICE industry on a larger scale.

The STB is also maintaining an overall forecast of SGD 22 – 24 billion in Tourism Receipts and 12 – 13 million in international visitor arrivals for 2011 - growth of up to 28 per cent and 12 per cent respectively over 2010.

Source = ftnnews