Singapore's Booming MICE Market to Hit $7 Billion by 2030
Skift Take
- Coherent Market Insights reports that Singapore's MICE (Meetings, Incentives, Conferences, and Exhibitions) market, valued at S$3.82 billion in 2023, is expected to grow to $6.97 billion by 2030
- Marriott International will operate the new W Singapore – Marina View as part of a mixed-use development in Singapor
- Wyndham Hotels & Resorts signed a franchise agreement for Ramada by Wyndham in Jim Corbett, Uttarakhand, India, enhancing its North Indian presence.
Coherent Market Insights said the Singapore Meetings, Incentives, Conferences and Exhibitions market size was valued at S$3.82 billion in 2023 and is projected to grow to $6.97 billion by 2030. They expect the Singapore MICE market to experience a compound annual growth rate of 9% from 2023 to 2030. Conferences account for over 35% of Singapore’s overall market with the growth being driven by the expansion of corporate travel and events, infrastructure for hosting large events, government support and initiatives, and robust international connectivity. Both of the integrated casino resorts in Singapore are including additional MICE facilities in their multi-billion dollar expansion plans.
Marriott International has signed an agreement with Bursa Malaysia-listed property developer IOI Properties Group to operate a new 350 room luxury hotel, W Singapore – Marina View. The hotel will be housed within a 51 story mixed use developme
