In-person events still in demand as Singapore Mice activity rebounds
Robust line-up of more than 60 international events for second half of 2022 include prominent shows that used to be held in other major cities, as well as new launches
THE Singapore Fintech Festival 2022 returns as an in-person event at the Singapore Expo for the first time since 2019, as strict Covid-19 restrictions are eased.
It is the latest in a slew of events that have returned physically in Singapore as the meetings, incentives, conferences & exhibitions (Mice) industry bounces back after being badly hit by the pandemic.
Constellar’s group chief executive officer, Jean-François Quentin, shares his views on the industry recovery and outlook:
How has the rebound in activity in Singapore’s Mice sector been as Covid-19 restrictions are gradually eased?
Singapore’s Mice industry is rebounding strongly. At Constellar, we saw confirmed bookings at our managed venue Singapore Expo reach 60 per cent of pre-Covid levels within three months of restrictions being lifted. We’re also seeing healthy booking levels for 2023.
In Singapore, the second half of 2022 has seen a robust line-up of more than 60 international events, including prominent shows that used to be held in other major cities, as well as new launches. These are all positive signs of strong demand for and testament to the value of face-to-face interaction formats.
Do you think in-person events would be the preferred option for exhibitors and visitors as opposed to hybrid or digital-only events?
Events as marketplaces will continue to be in high demand and the Covid-19 crisis has shown that people have, more than ever, a strong need to connect through in-person experiences. This period has demonstrated that whether events are physical, digital or hybrid, we have to provide efficiency for buyers and sellers through opportunity generation for knowledge sharing, networking, targeted business matchmaking, branding and marketing, and sales.
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How have lessons from the Covid-19 pandemic changed the way things are being done in the industry?
Constellar has accelerated our investments in our digital and green infrastructure, innovating our touchpoints to enhance the overall customer journey and provide engagement that will generate greater value for our partners, exhibitors and event attendees.
We expect this year’s return of SFF as an in-person event to be even more impactful; more than 500 leading organisations will be showcasing the latest developments in the fintech space, and over 60 per cent of the current line-up of exhibitors are joining the event for the first time. Constellar is working closely with our partners at Elevandi and the Monetary Authority of Singapore to design a robust, digitally enabled three-day programme that will focus on enriching the visitor experience.
What opportunities are there for Singapore to grow in the Mice sector versus other countries in Asia-Pacific that have not fully re-opened?
With its reopening, Singapore has shown pandemic resilience – which has a strong impact on Mice resilience. We’ve hosted some of the largest trade events in the region since the country’s reopening, including Food & Hotel Asia and Jewellery & Gem World Singapore at Singapore Expo. The latter and Cosmoprof Asia 2022, which will take place at Singapore Expo in November, have both been relocated temporarily from Hong Kong.
Nevertheless, we have not yet recovered to pre-Covid levels of activity, with overall attendance from partners, exhibitors and attendees lowered as some key markets still remain closed.
We’re in the first phase, with full recovery expected in two to three years. While the speed of return of business has been encouraging, the industry is not immune to challenges faced globally on the travel, logistics and talent fronts. As global event organisers continue to look to Singapore as a launchpad for regional and international expansion, Mice players will need to pivot quickly – including embarking on partnerships to grow, scale and enter new markets.
For more stories, go to bt.sg/sff2022
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