Tourist spending soars with packed Mice calendar but malls see mixed impact

[SINGAPORE] A well-stacked calendar of meetings, incentives, conferences and exhibitions (Mice) and exclusive sell-out concerts greatly benefited Singapore’s hospitality sector and drove up room rates last year, but the impact on tourist footfall in malls is “more nuanced”, a recent consultancy report said.

Tourism receipts hit an all-time high last year, chalking up S$22.4 billion in the first nine months of 2024, amid a robust calendar of events.

But tourist foot traffic at malls near event venues varied, revealed an in-depth study by CBRE, which examined pre and post-event tourist footfall at malls.