Visitor arrivals, hotel occupancy rates, tourism investment growth and business travel spend have been rising across Asia for the past decade, taking the region to the top of international market growth charts. With Asian travellers projected to account for at least half of global tourism expenditure by 2020, all eyes are on the region for future growth prospects.
Singapore is at the heart of this explosive growth, situated as it is within a seven-hour flight radius of half the world’s population. It is also ranked as Asia’s most competitive tourism and aviation hub by the World Economic Forum. The travel trade recognises its strategic importance and a wide range of Multinational Corporations (MNCs), Small and Medium Enterprises (SMEs), as well as start-ups call Singapore home.
Singapore’s vibrant ecosystem of travel companies and access to the region makes it a prime launch pad for successful tourism events. Held annually in October, ITB Asia in Singapore regularly attracts participants from more than 110 countries – hot on the heels of its parent show, ITB Berlin, which saw the participation of 186 countries in 2018. Trade conferences targeting different segments of the travel and tourism industry have also gained traction in Singapore. Web In Travel (WIT) gathers industry professionals in the Asian travel distribution, marketing and technology sector annually. Meanwhile, the Singapore MICE Forum which takes place in July, is a platform for international and regional MICE players to convene.