I just received a quick report on the recently complete M.I.C.E. tradeshow AIME 2009. Inspite of the global economic downturn, visitor numbers to AIME rose by 9.6% (based on unaudited total audience figures). The number of companies exhibiting rose by 5.5%. The event attracted a total of 3,548 trade visitors including 467 hosted buyers. The figures augur well for the industry and perhaps are an indication that business in general continues to recognise the importance of M.I.C.E. events and how such events provide a platform for business exchange.
Without more details it is unwise to analyse AIME 09's show statistics. However, my own superficial reading of the success is that the corporate world is looking for more cost effective ways to organise business events - hence the need to meet with M.I.C.E. industry players to perhaps negotiate rates or explore cost effective options. As long as transactions continue to occur and contracts continue to be signed, M.I.C.E. will continue to move ahead......hurrah!
Wednesday, February 25, 2009
Wednesday, February 11, 2009
Picking up the pieces....
I will be reducing the frequency of my posts over the next 6-8 weeks. The frequency level should pick up again in late April.
Tourism in Singapore got a shot in the arm on Monday when the government announced a S$90 mn injection of funding for the industry. At the top of the list for how this money will be spent is the "aggressive" marketing of Singapore (as a tourism destination) to countries in the region. This makes sense given the economic climate and the target markets are seemingly correct - capitalisiing on shorter travel times; cheaper airfares; and hopefully offering tourists good value for money (please note that good value for money does not mean cheap.....it simply means good value for money).
The other area of focus is the M.I.C.E. sector - convincing MICE event owners and organisers to hold their events in Singapore. Such events include tradeshows/expositions, conventions and conferences, sporting events, festivals and the like.
So this is great and should give our industry a filip. However, dark clouds loom. Companies in the US are reportedly cutting back on organising corporate conferences and events. They are also cutting back on the number of such events their employees attend. Meeting Professionals International (MPI) is expecting a 12% fall in the number of conference attendees in 2009; plus a 9% drop in off-site meetings and corporate events. Leading the move in these reductions are banks and financial institutions - some of the strongest supports of the MICE industry over the years. These corporations are cutting back on the number of conferences and events they get involved in - adding to the domino effect. Their counterparts in Singapore should follow suit - so the S$90mn boost announced by the government is really timely.
I look forward to greater things for M.I.C.E!!!!
Tourism in Singapore got a shot in the arm on Monday when the government announced a S$90 mn injection of funding for the industry. At the top of the list for how this money will be spent is the "aggressive" marketing of Singapore (as a tourism destination) to countries in the region. This makes sense given the economic climate and the target markets are seemingly correct - capitalisiing on shorter travel times; cheaper airfares; and hopefully offering tourists good value for money (please note that good value for money does not mean cheap.....it simply means good value for money).
The other area of focus is the M.I.C.E. sector - convincing MICE event owners and organisers to hold their events in Singapore. Such events include tradeshows/expositions, conventions and conferences, sporting events, festivals and the like.
So this is great and should give our industry a filip. However, dark clouds loom. Companies in the US are reportedly cutting back on organising corporate conferences and events. They are also cutting back on the number of such events their employees attend. Meeting Professionals International (MPI) is expecting a 12% fall in the number of conference attendees in 2009; plus a 9% drop in off-site meetings and corporate events. Leading the move in these reductions are banks and financial institutions - some of the strongest supports of the MICE industry over the years. These corporations are cutting back on the number of conferences and events they get involved in - adding to the domino effect. Their counterparts in Singapore should follow suit - so the S$90mn boost announced by the government is really timely.
I look forward to greater things for M.I.C.E!!!!
Wednesday, February 4, 2009
Destination Marketing - Do or Die!
The sudden and fast-paced transformation of the global economic landscape in the past 10 months has resulted in increased government intervention in business, not just the financial sector but other key sectors. One segment that has been sidelined (for now) is the tourism/MICE sector. Many countries and regions are seeing falls in the number of incoming visitors and are forecasting lower numbers and tourism receipts for the current year. People are travelling less - whether for business or pleasure.
This is precisely the time when government agencies responsible for promoting tourism need to step up.......its a lot of marketing of a destination; shouting out loud and being heard; being seen at all relevant tradeshows; frequently updating the destination website. The agency responsible for marketing the city as a destination for business-related events is more often than not a Convention Visitors Bureau (CVB). It can be quite a challenge for the CVB in times like these. Marketing and promotional efforts require money and the eyes of the general public, spending on marketing campaigns, advertisements etc is sometimes misread as being wasteful.
In tight economic times, government agencies are being cautioned against unnecessary spending (that means cut out the bells, whistles and frills). Unfortunately, destination marketing is made up of a lot of bells, whistles and frills and the more the better. I think full-on efforts are needed, in times like these, to promote destinations as M.I.C.E. ready.
This is precisely the time when government agencies responsible for promoting tourism need to step up.......its a lot of marketing of a destination; shouting out loud and being heard; being seen at all relevant tradeshows; frequently updating the destination website. The agency responsible for marketing the city as a destination for business-related events is more often than not a Convention Visitors Bureau (CVB). It can be quite a challenge for the CVB in times like these. Marketing and promotional efforts require money and the eyes of the general public, spending on marketing campaigns, advertisements etc is sometimes misread as being wasteful.
In tight economic times, government agencies are being cautioned against unnecessary spending (that means cut out the bells, whistles and frills). Unfortunately, destination marketing is made up of a lot of bells, whistles and frills and the more the better. I think full-on efforts are needed, in times like these, to promote destinations as M.I.C.E. ready.
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