Overcoming Singapore's Challenges to be World's Best Destination in MICE Industry

Mr Liang Eng Hwa asked the Minister for Trade and Industry (a) whether Singapore's tight labour market condition, higher cost structure and strong Singapore dollar will pose severe challenges to efforts to be the world's best destination for meetings, incentives, conventions and exhibitions (MICE); (b) how can these challenges be overcome; and (c) how can Singapore's capacity be further geared up to host more world-class MICE events without compromising on standards and quality.

Singapore's value proposition as a leading MICE venue is the quality of our infrastructure, the quality of services and experiences we provide, as well as our connectivity to the world.

The Singapore Tourism Board (STB) will build on our strengths in three ways.

First, trust. We are trusted as a neutral venue to convene talent, ideas and capital from all over the world. STB will continue to anchor leading industry events, such as the Bloomberg New Economy Forum, the Singapore Fintech Festival, the Singapore Airshow, the Singapore International Cyber Week and Asia Tech x Singapore.

Second, innovation. As a hub for research and development and technology, we will pursue events that provide a launchpad to advance new ideas, products and businesses. For example, the International Trademark Association 2023 Annual Meeting Live+ we hosted here in May 2023, organised an Open Innovation Challenge which produced winning ideas, such as an artificial intelligence-based solution for trademark management and advancing business efficiencies in the industry.

Third, sustainability. Singapore is set to become a leading sustainable MICE destination in Asia-Pacific. We have put in place targets, standards and certification to achieve this ambition together with our industry partners.

The Singapore MICE Advantage Programme (SMAP) is one of the tools STB uses to attract key events to Singapore. SMAP offers privileges to event organisers and MICE delegates, such as discounts on travel logistics and tourist experiences in Singapore. SMAP is fully-funded by participating industry partners, such as Singapore Airlines Limited, Changi Airport Group (Singapore) Pte Ltd and Sentosa Development Corporation.

STB also makes long-term plans to address the MICE sector's infrastructure and workforce needs. We are planning for new MICE spaces as business events evolve in format and scale, even while there is sufficient capacity in existing major MICE venues to meet current demand.

As for manpower, total tourism workforce including that of our MICE industry has recovered to 86 percent of pre-pandemic levels. STB works closely with industry partners, including the Singapore Association of Convention & Exhibition Organisers & Suppliers (SACEOS), to ensure that our MICE workforce continue to upgrade their skills and meet the evolving needs of the industry. For example, STB and SACEOS launched the Singapore MICE Sustainability Certification process in January to rally the industry to adopt sustainable practices and deepen sustainability competencies.

With these initiatives and efforts, we are confident that Singapore will be able to host more high-value and world-class MICE events in future and remain the "World's Best MICE City".