Singapore's MICE industry performing well: Trade and Industry Minister Chee Hong Tat

Despite the uncertain global economic situation, the MICE industry has been performing well with a strong potential for growth in Singapore, Senior Minister of State for Trade and Industry Chee Hong Tat has said.

Meetings, incentives, conferences and exhibitions (MICE) is a type of tourism in which large groups, usually planned well in advance, are brought together.

The MICE market refers to a specialised niche of group tourism dedicated to planning, booking, and facilitating conferences, seminars, and other events, which is a big moneymaker in the travel industry.

"Globally, economic growth over the past year has been muted owing to uncertainties brought about by US-China trade tensions, Brexit and other geopolitical developments," the minister was quoted as saying in a statement on Thursday.

He was speaking at the launch of EXPO 2.0 by Singapore EXPO & MAX Atria, the convention and exhibition center, which has expanded its facilities and services.

The occasion also marked the 40th anniversary celebration of SACEOS - the Singapore Association of Convention and Exhibition Organisers and Suppliers.

"Despite the uncertain global economic climate, and strong competition for the MICE (meetings, incentives, conferencing and exhibitions) segment in our region, Singapore's MICE industry is performing well with strong potential for growth," he said.

In 2018, the MICE industry generated approximately 3.8 billion Singapore dollars in value added or 0.8 per cent of Singapore's GDP, he said.

The minister pointed that the MICE industry strengthened the country's position as a global business hub and key node within Asia, allowing it to attract more investment opportunities.

"In 2018, Singapore welcomed close to 3 million BT-MICE visitors, an increase of about 12 per cent from 2017. We will continue to grow a strong pipeline of business events for the coming years to strengthen Singapore's position as a choice destination for quality events, and to maximise the tourism spending from the organisers and participants when they are in Singapore," he added.

The MICE industry is constantly evolving, and is embracing new formats for events that allow for deeper engagement, more immersive experiences and more effective connections.

Emerging consumer and industry trends, together with stronger regional competition, will have an impact on our MICE industry, its business models and manpower requirements, he said.

"We need to work even closer together to enable a more responsive and coordinated approach between government and businesses," he added.

The new facilities which were launched at the Singapore EXPO, operated by SingEx Venues, include FleX, a modular meeting village, ApeX, a plug-and-play high-tech plenary hall and Xpert, an in-house event planning services.

Speaking