Singapore Companies to Benefit from Flourishing MICE Industry: Singapore Incorporation
Singapore (Singapore Incorporation)
Messe Berlin (Singapore), which is the organiser of the B2B travel trade show and convention, ITB Asia 2014, has proclaimed its strategic collaboration with the Global Business Travel Association (GBTA), the world’s leading business travel organisation this week. Singapore Incorporation believes that the collaboration highlighted the flourishing Meetings, Incentive travel, Conventions and Exhibitions (MICE) industry of Singapore on its potential to market businesses on an international platform.
ITB Asia, which is slated to take place at Marina Bay Sands this October 29 - 31, is known as the ‘Trade Show for Asian Travel Market’. As the most successful MICE event in Singapore to date in terms of growth in exhibitors, quality buyers, conference partners and trade delegates, it attracted almost 9,100 attendees from 110 countries last year. The collaboration of ITB Asia with GBTA paves the way for businesses to leverage from this global platform, and establish their market presence in Singapore and Asia-Pacific region.
Asia-Pacific has become the world’s largest business travel region, and Singapore has recognised the significance of maintaining the robust position as a dynamic marketplace in the region. In 2013, the MICE sector of Singapore welcomed 3.5 million business travellers, and hosted 175 ICCA events last year alone, up from 150 in 2012. Last month, Singapore was also ranked again as Asia’s Top Convention City for the 12th consecutive year by the International Congress and Convention Association (ICCA).
“At the heart of Singapore’s MICE industry is the connectivity it presents to businesses. The superior connectivity to various people, information and opportunities is what propelled the Republic as a choice destination for MICE events. It provides a platform for businesses to forge a dynamic community that allows the exchange of ideas, perspectives and opportunities”, affirmed Ms. Jane Koh, Marketing Manager of Singapore Incorporation.
According to the Singapore Convention & Exhibition Directory 2013/2014, Singapore’s current stature as an Asian business travel hub is largely attributed to its pro-business environment and the customised support it receives from the SECB.
Singapore’s pro-business environment presents it as an attractive MICE destination for businesses. Starting a company in Singapore has been ranked to be the easiest in the world according to the 2014 Cities of Opportunity report. This is because the country possesses a dynamic business environment that is coupled with political stability, low crime rates and seamless efficiency in administration.
The country’s extensive international trade and communications network also contributes to its easy market accessibility and trade flow to the rest of the world. As the home to over 7,000 multinational companies (MNCs) and 60% of their regional headquarters, Singapore’s strong MICE ecosystem is well-positioned to serve as an excellent platform to market businesses on the global front.
CUSTOMISED SUPPORT FROM SECB
Beyond Singapore’s pro-business environment, the Singapore Exhibition & Conventions Bureau (SECB) provides customised support in creating, growing and attracting business events to the nation. SECB also offers the Business Events in Singapore (BEiS) scheme that is aimed at encouraging companies to anchor and execute quality business events in Singapore. It provides funding to these businesses based on a percentage of the qualifying costs. Particularly, the scheme has benefitted the travel, design, media and digital content industries of Singapore by nurturing a portfolio of quality business events in their sectors.
The SECB also administers the Approved International Fair (AIF) scheme that endorses selected business exhibitions with proven international and commercial appeal to be executed in Singapore. By engaging various marketing and promotional activities and providing publicity support to businesses, SECB helps companies to reach their regional and international target audience, network with international trade visitors and buyers, and access a range of quality international products and services.
“Today, Singapore stands on par with other heavyweight convention cities of the world like Barcelona, Berlin, Paris, Madrid and Vienna. The Republic’s standing as a global MICE hub makes it very attractive for companies to utilise Singapore as a springboard to grow their businesses”, said Ms. Koh.
About Singapore Incorporation (incorporation-singapore.com)
Singapore Incorporation is a one-stop solutions provider to companies and professionals who want to do business or work in Singapore. Other than registering companies, Singapore Incorporation also offers Singapore work pass, accounting and tax, as well as statutory compliance services.
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