Robust demand for S'pore convention, exhibition sector
Posted: 23 June 2010 1151 hrs
SINGAPORE: The buzz is back in Singapore's convention and
exhibition industry as Asia-Pacific economies rebound and new casinos
attract more visitors to one of the region's favourite meeting
destinations.
From telecom and hotel trade shows to Christian prayer meetings and
home-decor fairs, conference centres are enjoying robust demand from
event organisers along with rising attendance numbers.
Convention centres have already sealed contracts for events in 2011 and
2012, with Singapore Expo, located close to Changi Airport, hosting a
tenth of all business-related events.
"The big conventions and exhibitions sector is starting to bounce back,"
said its deputy general manager Chandran Nair. "A significant number of
associations and organisations have stopped playing a wait-and-see
game."
Singapore hosts some 6,000 business events annually, accounting for a
quarter of such meetings held in Asia in 2008, according to official
figures, but the global recession hit the industry in 2009.
In 2008, Singapore welcomed three million business travellers including
convention participants, said Melissa Ow, assistant chief executive at
the Singapore Tourism Board in charge of business travel and
conventions.
The segment contributed S$6 billion (US$4.4 billion) or about 40 per
cent of total tourism revenues in 2008, Ow said.
Total visitor arrivals including tourists and business travellers
slipped 4.3 per cent to 9.7 million in 2009, but the STB forecasts
visitor arrivals for 2010 could range from 11.5 to 12.5 million.
The target is 17 million arrivals by 2015 -- more than three times the
current population of Singapore.
The turnaround of the local economy despite lingering US weaknesses and
the recent financial shocks in Europe is also boosting demand for
meetings and display space at convention centres.
Economists expect Singapore's output to expand 9.0 percent in 2010 after
contracting 1.3 per cent last year, and the government has been pushing
service industries to reduce dependence on manufacturing in the long
term.
Chua Chor Hoon, the head of research for Southeast Asia at realty
consultancy DTZ Debenham Tie Leung, told AFP that growing the convention
industry is key to achieving the target.
"With the global economies recovering from last year's recession, the
outlook for (the business meetings industry) in 2010 is good as
companies are more willing to spend again," Chua said.
For conventioneers, Singapore offers a central location and extensive
airline connections as well as a safe, business-friendly and
English-speaking environment.
All convention centres are connected to the mass transit system, and
many offer integrated hotel, entertainment and dining facilities, with
accommodation generally cheaper than in Hong Kong, its arch rival.
"What is unique to Singapore is our user-centricity, which means that
experiences are built around the visitor, with the visitor's needs and
preferences in mind," said the tourism board's Ow.
The addition of two massive casino complexes earlier this year -- one on
Sentosa island, the other right next to the banking district -- is
another incentive to hold regional and world conferences in Singapore
Both properties began operations earlier this year and have already
signed close to 200 events contracts each, according to company
officials. - AFP/jy
THE buzz is back in Singapore's convention and exhibition industry as Asia-Pacific economies rebound and new casinos attract more visitors to one of the region's favourite meeting destinations.
From telecom and hotel trade shows to Christian prayer meetings and home-decor fairs, conference centres are enjoying robust demand from event organisers along with rising attendance numbers.
Convention centres have already sealed contracts for events in 2011 and 2012, with Singapore Expo, located close to Changi Airport, hosting a tenth of all business-related events.
'The big conventions and exhibitions sector is starting to bounce back,' said its deputy general manager Chandran Nair. 'A significant number of associations and organisations have stopped playing a wait-and-see game.'
Singapore hosts some 6,000 business events annually, accounting for a quarter of such meetings held in Asia in 2008, according to official figures, but the global recession hit the industry in 2009.
In 2008, Singapore welcomed three million business travellers including convention participants, said Melissa Ow, assistant chief executive at the Singapore Tourism Board in charge of business travel and conventions. The segment contributed S$6 billion or about 40 per cent of total tourism revenues in 2008, Mr Ow said. -- AFP.