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