Singapore: 2011 Performance Stats for MICE

I just thought that it is an appropriate week to provide an update on Singapore's MICE sector's performance for 2011.  These figures I am quoting were released by the Singapore Tourism Board.

1. There was a 46% increase in the number of conventions, conferences and trade shows as compared to 2010.  A total of 2,130 such events were held in Singapore in 2011.
2. Tourism receipts (and this does not equate with economic values) from the sector increased by 10% to SGD 550 million.

I should also point out that the cost of running MICE events in Singapore has increased as well.  Some of the rise in costs are demand driven e.g. as with hotel rooms (more demand for rooms = higher room rates), and the strong Singapore dollar.

In 2011, a total of 13.2 million tourists visits were recorded, generating tourism receipts of SGD 22.2 billion.

Is there a need to re-focus Singapore's MICE sector?  As noted in my earlier blogs, more destinations and cities are jumping onto the MICE bandwagon.  Some of these have unique product offerings, and in general most of the competition offer lower price points.  The Singapore proposition, I expect, will continue to be attractive to organisers around the world. HOWEVER, I do see a need to evolve and re-focus as organisers will not always be willing to accept higher costs and overcrowding.