“I truly, truly believe in our MICE sector,” was the reassuring statement with which Singaporean Minister of Trade and Industry / National Development Alvin Tan greeted those assembled for the Singapore MICE Awards 2025 held on Thursday, 24th July, at the Sands Expo and Convention Centre.
Tan said: “I've been here many years; but I truly, truly believe in our MICE sector. When I first started in office, I was assigned the portfolio for the MICE sector and it was a very, very different thing in a very, very different environment during the depths of COVID.”
The minister lauded how the sector has had a renaissance over the past couple of years, and its turnaround is a solid testament to the efforts of sectoral professionals and the talent inherent in the industry.
Given how this year’s Singapore MICE Forum centred around the theme What’s Next, Tan first called on the audience to reflect on what was going on in the present.
He said: “Let's come to the present and reflect on what's happening now. (2:14) So what's now? As all of you already know, the global situation now is getting increasingly uncertain. With US tariffs, with hot conflicts, wars, economic uncertainty, now more than ever, Singapore must shine. The world must know that Singapore is a shining little red dot in a time of great uncertainty; a trusted place to do business, a trusted place to hold events.All of you here tonight are key to this effort.”
No room for complacency
Tan added that Singaporeans never rest on their laurels, and it is a constant cycle of refreshing offerings to remain relevant in the global experience.
With that, he drew the conversation into what’s new in the Singapore MICE sector, and these include the hosting of three new events.
Singapore is slated to host the Asian edition of some of Europe’s leading global trade shows, specifically Passenger Terminal Expo Asia and Breakbound Asia next year, and InnoTrans Asia in 2027.
Tan opined: “What this shows is that these are really forefront events covering growing industries such as aviation, logistics and transport technology: areas that support Singapore's economic industries and our strengths.
He added that the country will also host the Swift International Banking Operations Seminar (SIBOS) 2027.
Tan said of this: “SIBOS further reinforces our status as a global financial hub, shaping the future of FinTech as well as economic collaboration. Then, we also recently secured rights to host the Milton Institute Asia Summit from 2026 to 2028. This again underscores the Milton Institute's confidence in Singapore's ability to facilitate discussions on sensitive topics such as geopolitical risks and economic uncertainties.”
The minister pointed out that this innate ability to attract new events to Singapore is a testament to the local MICE industry's dedication to excellence and reputation.
However, he reminded assembled professionals that there is a constant need to push boundaries even further.
So, what’s next?
Tan remarked that Singapore seeks to grow its MICE tourism receipts threefold from $1.4 billion in 2019 to $4.5 billion by 2040.
He explained that both the government and private sector are aware that the global MICE market is projected to double in value, with the Asia-Pacific region as one of the fastest growing markets globally.
In order to succeed in this vastly growing market, Tan presented several key points for development:
- Quality tourism Quality tourism is a key principle that has shaped Singapore’s Tourism 2040 roadmap. What needs to be done is to grow tourism receipts faster than the rate of international visitor arrivals. As the country pursues high growth segments, the importance of its MICE industry has grown significantly, hence the need to attract more MICE visitors who stand to spend double in Singapore than in any of its regional neighbours;
- A greater emphasis on local talent People are at the heart of every MICE experience, and behind every successful MICE event. Tan said: “Whether you start at 5.30 in the morning, and those who are cleaning up after today's dinner, these are all dedicated professionals that deliver these experiences. That's why we must continually identify, grow and develop talent for our industry;”
- Focus on partnerships In the Singapore MICE industry, if one succeeds, then others succeed. The benefits to one part of the ecosystem can uplift the entire industry, which is why the Singapore Tourism Board (STB) has been working with SACEOS and the Singapore Business Federation to draw the industry closer. Indeed, as of April 2025, STB and SBF signed a Memorandum of Understanding to strengthen the local MICE ecosystem and expand the pool of local hosts for association conferences. This includes identifying and supporting local trade associations to bid and host world-class business events in Singapore; and
- Focus on going green and boosting technological innovation With regard to sustainable MICE, Tan reported that Singapore has made progress towards its goal of having all six purpose-built MICE venues and ensuring that 80 percent of SACEOS members obtain internationally or nationally recognised sustainability certification. To date, four of Singapore’s six MICE venues have attained the relevant certifications. With regard to technological innovation, he lauded the industry’s use of the latest tools with which to plan its events and how this will serve as a gateway for even more developments over time.
