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!!!!