Roaring business for Singapore MICE sector

The business events industry in Singapore is booming with a 20 percent surge in the number of meetings, incentives, conventions and exhibitions (MICE) and more foreign visitors at these events, local media reported.

The bullish outlook has even prompted rivals such as new entrant Resort Worlds Sentosa (RWS) and established player Suntec Singapore to band together and jointly bid for international events, local daily The Straits Times reported on Friday.

Major trade shows such as CommunicAsia2010 and BroadcastAsia2010 posted an 11 percent jump and drew more than 55, 000 visitors.

According to latest statistics from the Singapore Tourism Board, Singapore drew 2.6 million business travelers last year who spent about 4.2 billion Singapore dollars (3.24 billion U.S. dollars).

This made up 27 percent of total visitors and about 33 percent of total tourist spending.

Source:Xinhua