Singapore targets high‑spending business travelers to boost tourism

Singapore is sharpening its focus on high‑spending business travelers as it seeks to strengthen its position as one of the world’s leading travel hubs. Under the Singapore Tourism Board’s (STB) Tourism 2040 roadmap, the country plans to triple tourism receipts generated from business events, also known as MICE—meetings, incentives, conferences and exhibitions.

Business events already play a significant role in the city‑state’s tourism economy. In 2024, tourism receipts from this segment reached about S$1.7 billion, surpassing pre‑pandemic levels recorded in 2019. Officials note that corporate travelers typically spend significantly more than leisure tourists, making them a highly valuable visitor segment.

To accelerate growth, Singapore is targeting large international conferences, corporate gatherings and global exhibitions. Major upcoming events include the Singapore Airshow and the Herbalife Extravaganza incentive event, which is expected to bring around 25,000 attendees and become one of the largest gatherings of its kind in the country.

Authorities say the benefits extend beyond tourism spending. Large‑scale business events help strengthen international business networks and reinforce Singapore’s role as a global commercial hub. As part of the Tourism 2040 strategy, the government aims to lift overall tourism receipts to between S$47 billion and S$50 billion by 2040, with the MICE sector playing a key role in achieving that goal.