finalterm report of mice management evaluate factors affecting mice tourism in singapore city singapore

Development of MICE Tourism in Singapore: 1.3.1 Overview of MICE Tourism in Singapore: Singapore is a contemporary metropolis and economic hub that connects global companies to the rapid

VIET NAM GENERAL CONFEDERATION OF LABOR

TON DUC THANG UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION

TON DUC THANG UNIVERSITY

FINALTERM REPORT OF MICE MANAGEMENT EVALUATE FACTORS AFFECTING MICE TOURISM

IN SINGAPORE CITY - SINGAPORE

Mentor: Ph.D Nguyén Duong Giang Group: 10

Subject: MICE Management Shift: 3 Day: Saturday Students:

e Dang Huynh Ngân — 719H0247

e HaKy Anh — 718H1584

e Dui Béi San — 719H1029

e Huynh Thi Bich Duyén — 719H0965

HO CHI MINH CITY, JUNE 2022

100%

Dang Huynh Ngan 719H0247 ` Chapter 1: 1.3 Chapter 3: 3.1, 3.2, 3.4 100%

Ha Ky Anh 718H1584

Gratitude Certify Chapter 2: 2.1, 2.2.1 100%

GRATITUDE

We would want to express my sincere and deepest gratitude to Ph.D Nguyén Duong Giang— lecturer at Ton Duc Thang University for direct supervision and reminders in order to complete the evaluate factors affecting mice tourism in singapore city — singapore topic

Our team would also like to thank my family and friends for their unwavering encouragement and support throughout the study and report-writing process

Although we tried to learn and absorb the criticisms and recommendations of instructors, teachers, and friends, and review numerous domestic and foreign papers in the process of writing the report, the research content could not be avoided As a result,

I eagerly await your feedback and recommendations for improving the report

Ho Chi Minh city, June 20, 2022 Student Group

10

THIS REPORT HAS BEEN COMPLETED AT TON DUC

THANG UNIVERSITY

We certify that this is our personal research project, which is supervised by Ph.D Nguyễn Đường Giang The final report is genuine and have never been published before The authors gathered the data in the tables for analysis, comments, and review from many sources, which are explicitly noted in the reference section

In addition, the thesis incorporates a variety of comments, assessments, and statistics from other authors, agencies, and organizations, all of which are accompanied

by citations and source annotations We will assume full responsibility for the content

of our thesis if there was any deception Ton Duc Thang University is unaffiliated with any copyright or copyright infringement that I may have committed during the implementation process (if any)

Ho Chi Minh city, June 20, 2022 Student Group

10

TABLE OF CONTENTS

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TABLE OF FIGURES

Figure | International tourist arrivals and tourism receipts by country of destination (Asia and the PaCIÍIC) - . - 2G 31113131111 31111 4311181 1E TH 1E ng ng ng 14 Figure 2 Crime rate against person in SI1ØAOFC 5 5< + + nh 25 I13011568s+101)i-ãu0Á9)003110891 500 31 Figure 4 Concept of Singapore's Transportation 0 cecceccesceeceseeeeceeeeeeeeeceeeseeees 32 I1») suiš váirì0i80 030i i9 0n 33 Figure 6 Double-decker In SIEOFC - - 55 S5 + SH HH Ha 33 Figure 7 Taxi in Singapore 34 Figure 8 Citizens are using bicycle for healthy purpOSe - «sex 34 Figure 9 Grand park City 8n 35 1101011810000 36 Figure 11 Mooncake - Special cake for mid-autumn festIvaÌ -< «<e< «<5 37 Figure 12 Pongal Harvest CelebratIOn - -5- 5 5< Sàn vn cv rry 38 Figure 13 Hari Raya Haji Fesstival Welcome af€ - càng như 38 Figure 14 Deepavali Festival/Diwali Welcome af€ sen nen re ry 39 Figure 15 Marina Bay Sands Casino's Lobbly - «se xnxx nHererre 40 Figure 16 Far East Organization Children’s Garden . - «5 5< «sen se sex 41 Figure l7 G-Max Reverse Bungy SInEADOTC + SH HH ngu rà 42 I1101118E.9.9ii2ii 03c TƯ 42 Figure 19 Lau Pa Sat Market 43 Figure 20 Singapore River Cruise with Water B - - «cty HH 43 1101012009 N 44 Iji41150/2AOsii2 0 44

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TABLE OF CHARTS & TABLES

Table 1 SWOT 9 BOX

ABSTRACT

Singapore is a Southeast Asian country with substantial travel and tourist capabilities However, no one has completely recognized and accurately assessed the factors influencing each type of tourism now being developed in Singapore As a result,

we, a group of Ton Duc Thang University students, decided to explore and analyze the factors impacting MICE tourism in this lion island nation If there are any outstanding issues that need to be addressed or areas where Singapore has an advantage over other countries that should be pushed and improved, they should be addressed here MICE tourism is likely recognizable to the majority of visitors to Singapore, but we need to learn more about it not just to combat it, but also to promote and increase it

1 CHAPTER 1: MICE TOURISM

1.1 What exactly is MICE Tourism:

1.1.1 The Definition:

Meetings, incentives, conferences, and exhibits are all abbreviated as MICE As alternatives to MICE, the names "meetings industry" and "events industry" have grown in favor in recent years

Because every industry has regular events of some form, it accounts for a significant portion of worldwide business travel The primary purpose here is to bring professionals together, build connections, promote new ideas, and encourage growth

MICE has always been associated with business gatherings Concerts and festivals, for example, come into a distinct category However, many event organizers are now incorporating leisure components into larger events in order to better engage visitors and provide a more memorable experience

1.1.2 Four pillars of MICE:

Meetings, incentives, conferences, and exhibitions are the four primary event categories in the MICE business

Previously, the vast majority of all of these event kinds were held in person In recent years, there has been an increase in the tendency of relocating smaller events to virtual venues on occasion However, because to COVID-19, demand for hybrid and virtual events increased, making a decisive imprint on the MICE sector

Nonetheless, the four pillars have remained virtually unaltered Let us now examine them

Meetings:

Meetings are often held on a single day at hotel conference rooms or convention centers They can range in size from a few top executives to bigger gatherings such as yearly shareholder meetings

The idea is to bring people from the same organization, industry, or project together

to solve difficulties, discuss strategies, and set goals Catering is frequently kept basic, and entertainment is rarely provided

Incentives:

Incentives are undoubtedly the most enjoyable aspect of the MICE industry They include any form of travel incentive that a corporation provides to individual employees, teams, or partners (e.g affiliates) The purpose of an incentive in this case is to congratulate employees for their excellent work, enhance morale, or increase employee loyalty Incentives can take several forms depending on the firm that organizes them Some may send their employees on an all-inclusive weekend excursion to a resort outside of town Others may schedule a variety of activities closer to home to enhance employee bonding in a relaxed atmosphere

Conferences:

Consider conferences to be supersized meetings They frequently last more than one day and vary in size, but they normally have more attendance than meetings Conferences, like incentives, may appear extremely different depending on the organizers and the business behind them

Common conference activities include one, a combination of, or all of the following:

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Panels: A panel of specialists discusses and delivers fresh findings on a certain issue A moderator asks questions, promotes proper flow, and may take audience queries Presentations: At a corporate conference, top officials may report the firm's most recent triumphs or outcomes Thought leaders may be invited as guest speakers at public industry conferences to discuss the most recent trends and insights Props, slides, and other visual components are frequently used in presentations

Speeches: Speeches, often known as keynotes, are frequently given at the start or end of a conference It is sometimes the host or organizer who welcomes or thanks people for attending Occasionally, an industry leader will address an important subject and give solutions

Discussion: In this scenario, a small group discusses a subject as the audience listens Breakout rooms are used by some organizers to stimulate vigorous debate among small groups of guests

Workshops: A small group of participants works on a single issue case or area of inquiry This method is an excellent way to provide guests with an engaging learning experience

The goal of conferences varies, but they are typically intended to discuss and solve problems in a business or sector A key part of that is sharing fresh thoughts and research Networking and team-building exercises are also important

Exhibitions:

Exhibitions, often known as trade fairs, are typically large events that attract thousands of people and exhibitors from all over the world They might linger for many days to a week Exhibitions are often industry-specific, with a well-defined target market Exhibitors attend trade exhibitions to demonstrate and market their product or service, generate sales, and communicate with current and prospective partners Professionals in the industry go to network, acquire clients or employment, and learn new approaches to address challenges

Exhibition activities may comprise one, a combination of, or all of the activities seen at conferences, as well as:

Networking events: Trade exhibitions frequently provide networking events for subsets of participants This is an excellent venue for meeting possible partners, discussing cooperation, and exchanging ideas on current trends

Awards: An award show is a component of many exhibits that recognizes industry leaders for their accomplishments It also provides victors with a significant PR and marketing boost Even if you're not nominated for an award, it's good perusing the candidates for ideas

New business proposals: Because trade fairs strive to foster development and innovation in their sector, there is frequently a separate session for new business presentations It's an excellent way for start-ups to obtain exposure, finance, clients, and job applications

1.2 The importance of MICE in hospitality department:

MICE is a significant source of revenue for many hotels For starters, exhibitors and guests occupy numerous rooms in hotels with meeting facilities or near convention centers Second, according to a Hong Kong research, MICE attendees spend 17.5 percent more than leisure travelers

This is due in part to the fact that hosting huge events in town creates high demand and the opportunity to charge premium accommodation prices Hotels that host on-site meetings or conferences may give planners modestly reduced prices They can, however, generate additional money through meeting and F&B packages

Finally, MICE can provide a consistent stream of recurrent revenue Many conferences and trade exhibits take place at regular intervals, therefore hotels structure their annual budgets around these events

1.3 Development of MICE Tourism in Singapore:

1.3.1 Overview of MICE Tourism in Singapore:

Singapore is a contemporary metropolis and economic hub that connects global companies to the rapidly changing Asian region and beyond It has everything a good host

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should have: a business-friendly climate, world-class facilities and infrastructure, professional services, award-winning distinctive event locations, and fascinating attractions, all set in a rich and unique Asian setting like no other It's no surprise that Singapore has hosted numerous world-class events and is constantly ranked as the world's top MICE destination

Singapore is also an important aviation, marine, and telecommunications center in Asia It has market access to 4 billion people within a 7-hour flight radius due to its strategic location Singapore is easily accessible from anywhere in the world, with flights from 400 locations in 100 nations and territories, making it a great location for your business event Singapore confirms its position as the leading destination for MICE tourism technology when it is named the International Conference and Congress Association's (ICCA) leading city in Asia for conference organization for the 16th year in a row Furthermore, the Association of International Organizations (UIA) named Singapore the best city in the world for international conferences in 2017 In 2018, the Lion Island Nation was also honored for the third time in a row in Cvent's ranking of the top conference destinations in Asia - Pacific

Asia and the Pacific

International tourist arrivals and tourism receipts by country of destination

8 _International tourist arrivals — - _International tourism receipts —

Series 1000} Change (%) Share (*%) {USO million) Share (%)

2010 2017 2018" 17/16 1877 2018 2010 2017 2018" 2018" Asia and the Pac:f 209,174 24,041 47721 7 14 109 254307 105,996 435,460 100

North-East Asia 111,508 159,515 169,190 34 61 48.7 122,984 168,130 188,429 433

South-East Asia 70,473 120,466 128,680 as 68 37.0 88,547 130,632 142,314 327

Figure 1 International tourist arrivals and tourism receipts by country of destination (Asia and the Pacific)

The number of visitors and total revenue of the tourism technology industry BTMICE (Business Traveler, Meetings, Incentives, Conventions, and Exhibitions) increased at an astonishing rate in 2018

Singapore welcomed 2 million BTMICE visitors from January to September 2018, generating an estimated revenue of SGD 3.44 billion (USD 2.6 billion) As a result, the number of BTMICE tourists has increased by 10%, and the total revenue of this industry has increased by 14% since the same period in 2017

1.3.2 Top reasons to choose Singapore:

Singapore has numerous award-winning innovative event spaces, in addition to prioritizing safety and security Our multicultural and diverse industry experts can assist you in making your event a success and a memorable one Recently, there are over 7000 MNCs (multinational corporations) operating; over 37,400 international companies based

in Singapore; connections to 400 cities worldwide; and over 100 airlines serving at Changi Airport

Furthermore, various government programs and incentives are available to make customer events possible Clean and green modes of transportation can help you get to and from event venues in Singapore quickly and affordably You can take the train, bus, electric vehicle or taxi

1.3.3 Before and after COVID-19:

MICE tourism plays a very important role in the overall Singapore tourism industry and is also a main pillar of the Singapore economy Before Covid-19, the MICE industry created more than 34,000 jobs directly and indirectly to the Singapore economy and contributed up to 3.8 billion SGD, accounting for 0.8% of the country's GDP, as well as bringing many spillover benefits significant for the lifestyle and customer service industries In addition, MICE tourism is also considered as a key to developing Singapore's position as an important global hub in Asia MICE has facilitated the exchange of knowledge, ideas and capital, enabling Singapore to attract investment opportunities and build leadership in Singapore's key industry clusters

During the Covid epidemic, the MICE industry has been heavily affected by the pandemic as many companies in the industry reported financial losses, forcing MICE event organizers to quickly adapt and even consider implementing new business models,

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converting to applying hybrid event models Despite suffering heavy impacts from the Covid-19 pandemic like many other countries around the world, Singapore was quick to act and adapt to the epidemic situation As well as re-imagining the future of the MICE industry with rigorous protocols and innovative solutions for the entire journey of the visitor experience

2 CHAPTER 2: ANALYZE THE DEVELOPMENT POTENTIAL

OF MICE TOURISM IN SINGAPORE CITY

2.1 Stakeholders in Singapore city:

2.1.1 Singapore Exhibition & Convention Bureau (SECB):

SECB is a group of the STB that champions the business events industry in Singapore As the lead government agency for this industry, SECB aims to establish Singapore as a dynamic business events destination where an ecosystem of ideas, people, and technology draws on vibrant knowledge and an extensive network

SECB values industry partnerships and collaborates with business event organizers, associations and MICE industry stakeholders to identify key opportunities to grow, attract and create business events SECB also assists business event organizers, corporations and associations by providing comprehensive information on Singapore’s MICE facilities, incentive venues and industry partners

2.1.2 Associations:

Singapore is a member of the following alliances and international bodies

Best Cities Global Alliance:

Singapore has been a member of the BestCities Global Alliance since 2005, a network of eleven convention bureaux committed to a quality assured convention bureau service charter The Alliance stands for a promise of quality, expertise and professionalism to deliver the world’s best practices and service experience for international meeting planners The BestCities Global Alliance network includes Berlin, Bogota, Cape Town, Copenhagen, Dubai, Edinburgh, Houston, Melbourne, Singapore, Tokyo and Vancouver Asian Association of Convention and Visitor Bureau (AACVB):

The Asian Convention and Visitor Bureau (AACVB) was established in 1983 to form an alliance of Asian Convention Bureau that includes founding members consisting of the Philippines, Hong Kong, Indonesia, South Korea, Malaysia, Thailand and Singapore AACVB’s objective is to promote Asia as one of the world’s leading regions for meetings, incentive travel, conventions and exhibitions

Global Association Hubs Partnership (GAHP):

Singapore Exhibition and Convention Bureau (SECB), along with Dubai Association Center, Destination DC, and visit brussels jointly launched the Global Association Hubs Partnership (GAHP) in October 2015 The partnership will assist international associations

to expand globally and better serve their overseas members by using respective partner cities as regional conduits GAHP cements the positions of the four partner cities as leading global hubs for international associations through creating synergistic relationships and connecting the associations to respective local communities

International Association of Exhibitions and Events IAEE):

Trusted since 1928, International Association of Exhibitions and Events (IAEE) provides quality and value to its members through leadership, service, education and strong relationships [AEE is the largest association of the exhibitions and events industry in the world, with a membership of show organizers, exhibitors and exhibition suppliers Organizers of more than 20,000 exhibitions and buyer-seller events around the world are members of IAEE, and the organization advocates and promotes the awareness of face-to- face exhibitions and events as the primary medium for business development and growth IAEE provides relevant, timely and innovative education to its members and the industry UFI - The Global Association of the Exhibition Industry (UFD:

UFI is the association of the world’s leading trade show organizers and venue owners, as well as the major national and international exhibition associations, and selected partners

of the exhibition industry

International Congress and Convention Association (ICCA):

The International Congress and Convention Association (ICCA) is the global community and knowledge hub for the international association meetings industry ICCA represents the main specialists in organizing, transporting, and accommodating international meetings and events, and comprises over 1,000 member companies and organizations in over 90 countries worldwide ICCA specializes in the international association meetings sector, offering unrivaled data, communication channels, and business development opportunities

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Professional Convention Management Association (PCMA):

PCMA, based in Chicago, has 17 chapters in the US, Canada and Mexico Its membership

of approximately 6,000 consists of meeting planners, suppliers, faculty and students Its mission is to deliver superior and innovative education and promote the value of professional convention management PCMA members represent some of the meeting industry’s leaders — directors, key decision-makers and professionals in associations Union of International Associations (UIA):

UIA is a non-profit, independent, non-governmental organization having a scientific aim, with activities such as research, study, information, consultation, promotion and service 2.1.3 Corporate:

Training key employees of the company Launch a new product or service Develop

a long-term business plan Publicly introduced to the public Celebrate employee excellence

2.1.4 Professional Conference Organizers (PCO):

An event and conference organization company needs to ensure:

e The right choice of venue for the event, convenient hotel accommodation, well thought-out logistics and precise organization of transport services

e Opening and closing ceremonies, coffee breaks, and banquets

e An original entertainments programme, including pre- and post-conference trips, faultless serving staff, provision of all necessary equipment for the event

Some typical event and conference organization companies in Singapore: Clarion Events, Macro Events, Pacific World, The Events Artery, The Live Group

2.1.5 Incentive House:

In Singapore Incentives & Rewards (INSPIRE) Global 2.0:

The in Singapore Incentives & Rewards (INSPIRE) Global 2.0 programme offers close to 80 options in dining, attractions, thematic tours, team-building and retail experiences to complement the itineraries of MICE groups to Singapore Qualified MICE

groups will get to choose from a suite of Singapore experiences Contact any of our offices with your meeting needs to find out more about the range of experiences and any other potential form(s) of support

Singapore MICE Advantage Programme (SMAP):

Home to world-class facilities, efficient infrastructure, and an empowering business environment, Singapore is the ideal destination for hosting successful business events With the Singapore MICE Advantage Programme (SMAP), your event can become

a platform that inspires and imagines new possibilities Be rewarded with a host of exclusive privileges - including sustainability focused initiatives, to provide event organizers and delegates a seamless and environmentally conscious MICE event experience in Singapore

2.1.6 Destination Management Companies (DMC):

Destination Management Company, is a professional company with a team of professionals, with deep knowledge and expertise, with an extensive network of resources

to conduct tours, activities and events This company acts as a third party acting as a point

of contact between local businesses and their potential customers DMCs are often site- specific experts They know almost all the activities in their particular area and can offer the best options possible for tour seekers

Prominent destination management companies in Singapore are: The Traveler DMC, Diethelm Travel Singapore, Global Travel

2.1.7 Professional Exhibition Organizers (PEO):

Exhibition organizers are responsible for overseeing all aspects of an event This role involves a lot of planning and preparation and a customer focused attitude

Many exhibition organizers work freelance with a large network of contacts, though employment in large companies and specialist exhibition centers is also possible Typical work activities:

e Locating suitable venues

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e Planning layouts of exhibitions and program activities

e Financial and managerial administration tasks

e Seeking sponsorship and funding

e Marketing and selling exhibition space to clients

e Advertising and publicity for events

e Liaising with suppliers, contractors and contractors

e Designing and completing market research

e Meeting tight deadlines, and some long hours during exhibition times

e Supervising dismantling and removal of stands after events

Typical exhibition organizers in Singapore:

e Fireworks Trade Media

e Capacity: Less than 200, 201 - 500, 501 - 1,000, More than 1,000

e Seating Style: Banquet, Theater, Exhibition, Classroom, Cocktail Reception

e Amenities: Air conditioning, Built-in AV System, On-site catering, On-site restaurants, Parking, Wi-Fi, Wheelchair accessibility

Prominent among them can be mentioned as: National Gallery Singapore, PARKROYAL COLLECTION Marina Bay, Raffles City Convention Center, JW Marriott Singapore South Beach,

2.1.9 Other supporting organizetions:

Approved International Fair (AIF):

Events with proven international and commercial appeal should apply for the Approved International Fair (AIF) scheme If approved, SECB will accord these events the use of the prestigious AIF stamp of endorsement It plays a big role in helping exhibitors and visitors identify trade fairs with strong access to global and Asian markets, and are easily identified by the AIF logo

Business Events in Singapore (BEiS):

Singapore is a great place to do business, and SECB seeks to encourage the growth

of quality events with fresh, exciting and innovative content in the country Through the Business Events in Singapore (BEiS) scheme, SECB offers customized support such as help in securing venues, introductions with leading government agencies and business partners, marketing and publicity support, as well as assistance in hosting impactful sustainable events Eligible companies will receive funding support based on the scope and merits of the project

Eligible companies will receive funding support that amounts to a certain percentage

of qualifying costs Qualifying costs include costs related to third-party professional services, content development, marketing and bidding activities

2.2 Factors affect MICE Tourism development in Singapore city:

2.2.1 PESTLE Analysis:

Being well-known as one of the four Asian dragons, Singapore because it has a pro- business environment which is ranked 2nd place in the World Bank Group’s Doing Business 2020 report (Crowe) Moreover, its favorable position at the center of Southeast

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Asia provides excellent international connectivity to serve the fast-growing markets of the Asia-Pacific region and beyond

Therefore, Singapore is becoming an attractive investment destination that holds business conferences or corporate events The contents below will use the “PESTLE” analysis tool to analyze the Political, Economic, Social, Technology, Legal, and Environment factors of Singapore's “MICE” industry

POLITICAL:

Singapore has a high level of stability, integrity, and government efficiency when compared to other countries As a result, it projects a trustworthy and secure image to investors and entrepreneurs all over the world Furthermore, the Singapore government is focusing on recruiting investors and entrepreneurs to come to Singapore to invest or do business, hence it has enacted rules to preserve the business climate

Furthermore, in May 2017, Singapore Tourism Board (STB) cooperated with the Singapore Hotel Association (SHA) to launch the Tourism Innovation Challenge for Hotels The purpose is to use innovative and applicable solutions to push up the Hotel and Travel Agent industries, also successfully connecting the solution providers and industry players This campaign has covered various different industries, such as Hospitality, Food

& Beverage, Public Transportation, Event Planners, MIC, etc However, after the hardest hit from the global pandemic (Covid-19), The MICE industry has been affected alot With the reopening policy of Singapore by allowing fully-vaccinated visitors with no quarantine and testing requirements, The MICE industry is expected to recover strongly in the future

In order to achieve that, the project which is called The New Event Industry Resilience Roadmap (IRR) is created by Singapore Tourism Board (STB), Singapore Association of Convention & Exhibition Organizers & Suppliers (SACEOS), and Enterprise Singapore (ESG) — the goal is to reinforce enterprise resilience in Singapore’s MICE and Events industry Furthermore, STB also gives the Safe Management Measures for MICE Events

on their website to support the reopening of Singapore’s tourism With a robust pipeline of events in 2022 and beyond, a full recovery for the MICE industry is expected in two to three years In 2021, Singapore hosted more than 200 events with a total of 49,000

delegates Singapore hosted over 150 events attended by over 37,000 attendees in just the first three months of this year (Jan-Mar 2022) This figure is expected to rise, as at least

66 international events have been scheduled for the remainder of 2022

ECONOMIC:

Singapore is the economic center of Southeast Asia, most of the income comes from exports Since 2016, the prospect of the global economy has become better and better (2017); therefore, because of the high stability of Singapore's economy, many investors have started to invest and hold meetings or corporate events in Singapore

According to the MICE Economic Impact Assessment commissioned by the Singapore Tourism Board (STB), the MICE industry supported over 34,000 jobs with an economic value-add of $3.8 billion in 2019, contributing approximately 1% of Singapore's GDP It is among the most affected tourism sectors It also highlighted that MICE business travelers spent close to double that of leisure travelers

According to the findings of Tang See Kit (2017), in the first quarter of 2017, the Singapore GDP expanded 2.5%, compared with the same period of last year Which means the Singapore economy is still rising, it’s a good sign for every industry In fact, having a stable economy will help the “MICE” industry to develop faster, at the same time, having

a highly developed “MICE” industry will boost the economy as well, complementing each other It’s not so difficult to understand, because when some international attendees join in

a business meeting or exhibition, compared with other individual business travelers, they will have a higher chance to purchase products or do investment (2012)

SOCIAL:

Singapore is a diverse country with Chinese, Malaysian, and Indian cultures, making it easy for people to integrate Aside from the multicultural community, Singapore's education system is quite robust, resulting in a large number of professionals

or specialists in various fields Professionals and experts are becoming increasingly valued

in the "MICE" market Especially when an investor or company wants to invest in a project

or buy something but is unable to comprehend the quotes In this circumstance, professionals or specialists can act as a communication bridge, explaining quotes to buyers

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and ensuring the success of the firm Another selling factor of Singapore's "MICE" business

is that practically all of Singapore's hotels are located in the city

TECHNOLOGICAL:

As the financial center of Southeast Asia, Singapore has a mature public transportation system and telecommunication connectivity Having a good underground subway network and bus system could allow investors to reach any part of Singapore but

at a low cost Singapore also provides many conveniences for global investors and businessmen Besides the public transportation system, Singapore also has a comprehensive network cover According to the information provided by the Singapore government, Singapore built one of the world’s first nationwide modern networks in 1990 According to The Visit Singapore, in 2018, The Infocomm Media Development Authority (IMDA) has reported that Singapore has more than 20,000 free public Wi-Fi hotspots island-wide as part of the Singapore Government's Wireless @SG initiative, exceeding its target from two years ago All of these measures allow Singapore to provide the latest digital services and high-quality networks to tourists or investors In order to support the MICE industry under the pandemic Covid-19, Singapore established the Alliance for Action on Enabling Safe and Innovation Visitor Experiences, an industry-led and government-support coalition The purpose is to create solutions for end-to-end visitor experiences The alliance must create a hybrid format prototype for a risk-free trade show and exposition that would allow attendees to engage to the same extent as they would in a traditional trade show environment while also reducing infection concerns (based on the Destination, n.d)

LEGAL:

According to the Current School News, Singapore was the second-lowest crime rate country in the world As can be seen in figure 1 below, it records only 89 crimes that occurred over 100 000 populations The component that helps Singapore has the lowest crime rate is effective and extremely strict law, especially on the control of drugs and dangerous items, and their citizens are willing to cooperate In order to support the “MICE” industry, Singapore also enacted some policies to maintain the environment and decline

the crime rate Therefore, holding a meeting or corporate event in Singapore becomes the first choice of some event planners and meeting organizers

Crime rate against persons in Singapore from 2012 to 2021 (per 100,000 population)

Singapore is in a strategic location, as it lies in the heart of Southeast Asia and serves

as a link between Eastern and Western countries As a result, Singapore is a significant player in the global economy Furthermore, Singapore owns one of the world's largest container terminals, the "Singapore Port," which handles one of the world's fifth-largest cargo transfers Additionally, Changi Airport is also known as one of the largest transportation hubs in Asia Singapore is linked to some 330 cities in 80 countries by 100 airlines, providing global connectivity and convenience for event attendees Besides that, the public transport system in Singapore is assessed to perform very well because it is efficient and fast according to MICE Talk (2018) In addition, Singapore aims to become

a clean and green country therefore some strict laws are enacted by the government like

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the littering law It states that depositing, dropping, placing, or throwing any article or thing

in any public place except in a dustbin provided for the deposit of rubbish This includes the littering of plastic cups, tissue papers, cigarettes, and rubber bands and the penalties are quite high (Singapore legal advice, 2019)

2.2.2, SWOT Analysis:

Strengths:

Diversity - Singapore is a country noted for its diversity, a place that allows you to achieve prosperity and peace regardless of your color, ethnicity, or cultural heritage Singapore welcomes individuals from all around the world, and it has four official languages For example, English, Chinese, Malay, and Tamil

Human Resources - Because Singapore is a tiny island with limited resources, the fundamental source of the country's growth and development is its use of people, people who actually are the country's building blocks, a magnificent work done by the country's founders and continued on by subsequent administrations Singapore is one of the few countries in the world that knows how to motivate individuals to work as a team, whether

in the IT business, hospitality, health and education, or elsewhere

High Technology - Singapore may proudly claim to be one of the most sophisticated countries in the world, thanks in large part to its technical sectors and businesses Singapore accomplished this by constantly learning and adapting Being open to recommendations and modifications along the road has helped Singapore become one of the most technologically advanced countries, which means more employment, greater growth, and simpler ways to engage with the community

Efficient and profitable business strategies - The country revolves around its international links; exporting and importing account for a substantial share of the GDP and business of the country Singapore, despite its small size, has always been efficient with its resources; every enterprise in the nation follows protocols to avoid tardiness and delays The government has built contacts all around the world to expedite and smooth commodity

and service trade Singapore is a trade and shipping hub for the majority of the world’s countries, including the United States, Japan, China, India, and many more

Weaknesses:

Age - Singapore's aging population is a rising source of worry; with a median age

of 42 years, the country is experiencing difficulties According to United Nations (UN) forecasts, 47 percent of Singapore's entire population would be 65 or older by 2050 This suggests that the country's successes thus far may progressively slow down over time Connection to other countries - As previously said, Singapore's economy and daily activities are heavily dependent on its neighbors as well as countries throughout the world The bulk of Singapore's organic food is imported from Malaysia and Indonesia, including water, milk, and poultry Imports of goods, construction materials, labor, and technology,

as well as exports and imports of about half of all goods This puts the country in a non- negotiable position since it must accept any trade regulations imposed by other countries

as well as the global economic situation

High-cost country - Singapore is the most expensive city in the world, which causes many concerns; what can be done to reduce the rising cost of living? How can we put an end to poverty and homelessness in Singapore? Why are rents and housing costs so expensive? How can such a prosperous country have so many impoverished citizens? Both locals and visitors have found it increasingly challenging as prices have risen

Government involvement - Singapore is one of the most stringent countries, which has both benefits and drawbacks Being strict implies that everything, including the people who reside there, adheres to a set of rules Legislators and the law ensure that there are no outlaws or dubious activities However, this has a variety of disadvantages because the government has no regard for a company's private area These difficulties are typically faced by emerging economies and certain current markets Constant company participation

in the marketplace might restrict investment by implementing stringent laws and processes Opportunities:

Technology improvement - Singapore is a technologically advanced Asian country, ranked among the top 10 in the world However, this is not the end of the narrative

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Singapore intends to improve its businesses by making them more technologically advanced Specifically, in education, retail, communication, and marketing Singapore seeks to reach new heights in the education technology market by drawing investors and specialists from across the world Because of the world's highest mobile phone penetration,

a flood of new marketing strategies has emerged in which print media is no longer utilized

to offer commodities and products, saving millions of dollars and being ecologically friendly

Increasing land - Increasing land area by resolving political issues with Indonesia and Malaysia may result in enhanced agricultural management and new economic opportunities, suggesting that Singapore would be able to rely on its own outputs for a range of reasons More acreage implies more structures, which means more labor, which leads to expansion

Tourism - Tourism is one of Singapore's most reliable industries, accounting for 4.1 percent of the country's national GDP in 2017 with a direct contribution of $17.7 billion The contribution of tourism to Singapore's GDP is predicted to rise to 4.4 percent by 2028 New hotels, resorts, rehabs, adventure sports and amusement parks, and MICE facilities will all be popular with guests from all over the world

Threats:

Reproduction - The problem with low fertility is that it only impacts population size among the young Low fertility creates an age structure that hastens future population decline, which must be reversed if the population is to remain demographically sustainable

In 2017, Singapore had the world's lowest fertility rate, with only 0.83 children per woman

It is anticipated that by 2035, around 32% of Singaporeans would be 65 or older, with the median age growing from 39.7 in 2015 to 53.4 in 2050 Singaporean society is under strain

as a shrinking workforce seeks to support an elderly population

Rising sea levels - As the low-lying city-state prepares for the consequences of climate change, Singapore will require at least US$72 billion in fortifications against rising sea levels According to Prime Minister Lee Hsien Loong, climate change is one of the

most significant issues confronting humanity, and the Southeast Asian country is already seeing the consequences of hotter weather and heavier rainstorms

Cyber threats - Last year, the cyber security firm found more than 11 million attacks from Singapore-based servers, a 150 percent decrease from the previous year Threats have increased in recent years, and the government is prepared Inadvertent internet file downloads, malicious attachments from online email services, browser extension activity, and malicious connections with command and control (C2C) sites were the top four web threat attack vectors The number of online skimmers using malware to steal user account information such as logins and passwords from infected PCs has considerably grown across the country

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STRENGTH

> Leading tourist destinations in Asia

> Rich in economy > Man Made

> Safe attractions

> Limited natural environment

OPPORTUNITY

> Strategic location

> Tourists arrivals wo

> Tourism receipts Take advantage of existing

> Outbound tourism SO opportunities to overcome

Enhance existing strengths - ¬

> Outbound tourism - ¬ shortcomings Stabilize the

and seize existing expenditure current tourism growth

THREAT

> Countries mimic

> Terrorism and create more

advantages Transform continuously with challenges Dealing with terrorism by reinforce area security Focus on solving existing

problems of weaknesses and develop plans to cope and defend against the impact of challenges

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of Singapore’s public charging infrastructure for electric vehicles

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plans road usage by taking into consideration predicted expansion in both existing and future locations

To realize our goal of a car-lite society, we prioritize movement for the people, including bus priority lanes and measures to increase first- and last-mile connection to public transportation hubs

To ensure that traffic runs smoothly and effectively, the LTA also controls vehicle ownership and usage

Transportation:

Transport in Singapore is mainly land-based The major forms of transportation in Singapore are MRT (Mass Rapid Transit) and LRT (Light Rail Transit), the former operates in Singapore only, and the latter expands into a few neighboring countries Mass Rapid Transit is a comprehensive rail network that is important in a high-density city like Singapore MRT is also popular among public housing dwellers as the rail network continues to expand to connect Changi Airport, the North-east of Singapore, Sentosa, Marina area, etc to each other

Figure 4 Concept of Singapore's Transportation

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