As part of Singapore Tourism Board’s (STB) long term vision, STB projects that by 2040, tourism receipts will reach between S$47 and S$50 billion (about US$37 billion), which is 1.7 times of Singapore’s tourism receipts today.
To cultivate future demand, high-growth and quality visitor segments will be pursued. One such visitor segment is MICE. As part of this futuristic plan, STB aims to grow MICE tourism receipts three-fold by 2040.
On average, a MICE visitor spends two times as much as a leisure visitor, making it an exceptionally valuable segment for Singapore.
The MICE market size in Singapore is estimated at US$4.8 billion in 2025 and is expected to reach US$8.89 billion by 2032, growing at a compound annual…
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