Thriving Singapore MICE Market Continues Impressive Growth According to Cvent
Singapore hotels and venues saw a 12% year-on-year increase in requests for meetings equating to $82m in additional revenue opportunity according to sourcing data from the Cvent Supplier Network
Cvent, a market leader in meetings, events, and hospitality technology, released a report highlighting the thriving Singapore MICE industry and strong demand for technology solutions to help support and drive additional growth. The proprietary data, compiled from activity within the Cvent Supplier Network, along with Singapore’s recent recognition as a Top Meeting Destination in Asia Pacific, reinforce its position as an ideal destination for organising exceptional meetings, conventions and exhibitions.
Venues in Asia using the Cvent Supplier Network (CSN), the world’s largest database for venue information, saw a 32% year-on-year increase in unique Request for Proposal (RFP) volume and a 20% year-on-year increase in unique room night requests. Singapore saw a 12% increase for unique RFPs. These growth rates translate into more than $379m of additional unique RFP value for the Asian market and approximately $82m for the Singapore market specifically.
To support this growth, hoteliers in the region have embraced the adoption of event management solutions to help streamline manual processes and drive MICE business. Leading organisations, including the World Travel Awards, have brought additional awareness to the event technology industry by highlighting platforms that are making an impact on the global travel and tourism industries. Cvent was recently named ‘Asia's Leading Travel Technology Provider 2018’ by the World Travel Awards.
Will Kataria, Director of Sales, APAC at Cvent, commented on Cvent’s success in helping to drive MICE and transient business in the Singapore and Asia regions. “Hotels and venues that truly embrace event management technology and utilise our suite of solutions as additional marketing and sales tools typically see incredible incremental growth in both the volume and quality of MICE business that they attract and retain. Event planners and corporate travel managers will source more than $16 billion dollars in business through Cvent’s online platforms in 2018, and the Cvent Hospitality Cloud offers our clients direct access to these buyers,” said Kataria.
“As a partner to many of the leading hotel chains in Singapore and the region, we look forward to continuing to support the thriving Asia MICE market and to provide hoteliers and venues with the solutions they need to grow and own their business,” concluded Kataria.
For more information on Cvent, please visit the website: https://www.cvent.com/sg/
About Cvent, Inc.
Cvent is a leading meetings, events, and hospitality technology provider with more than 4,000 employees, 27,000 customers, and 300,000 users worldwide. The Cvent Event Cloud offers software solutions to event planners and marketers for online event registration, venue selection, event management and marketing, onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the planning process to maximize the impact of events. The Cvent Hospitality Cloud partners with hotels and venues to help them drive group and corporate travel business. Hotels use the Cvent Hospitality Cloud’s digital marketing tools and software solutions to win business through Cvent’s sourcing platforms and to service their customers directly, efficiently and profitably – helping them grow and own their business. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events. For more information, please visit Cvent.com, or connect with us on Facebook, Twitter or LinkedIn.