Singapore Tourism Board (STB), Professional Convention Management Association (PCMA) and UFI (The Global Association of the Exhibition Industry) have partnered to launch a white paper titled “Reimagining Business Events – Through COVID-19 and Beyond”.
Launched at the first hybrid Singapore MICE Forum x IBTM Wired at Marina Bay Sands, the white paper is the first such collaboration between a destination and leading associations representing the exhibitions, conventions and meetings industry. It takes stock of how various sectors within the industry have transformed in response to COVID-19, and consolidates ideas from around the world to help business event organisers rethink their offerings and operations.
Keith Tan, chief executive of Singapore Tourism Board, said: “The pandemic has emphasised the need to innovate and be nimble in the business events sector. This journey of transformation is not a sprint, but a marathon that extends beyond the pandemic. As Singapore gradually scales up our capacity for larger business events, we hope that resources such as this white paper will continue to guide our local MICE industry to build new capabilities and reimagine the future of business events.”
Sherrif Karamat, president and CEO of PCMA, said: “Our success in emerging from the pandemic is dependent on our ability to solve the transformational challenges of our audiences. The pandemic forced us to look at how we deliver on what our audiences need and what they want to be successful for the future. While the pandemic has changed the way our audiences engage with business events, it has not altered their desired outcomes from these events.”
Impact of Covid-19
As the industry plots a recovery from Covid-19, the white paper highlights strong indications of growth and innovation in the Asia-Pacific.
Data from the upcoming “Global Recovery Insights Report” by UFI, Explori and Society of Independent Show Organizers (SISO) show that exhibitions in Asia are likely to see stronger growth in participation from both visitors and exhibitors, compared to the rest of the world.
There is also a stronger appetite for digital or hybrid events from respondents in Asia – they are more than twice as likely to have participated in such events than respondents from other regions. Furthermore, the number of events they are planning to exhibit at has recovered to its pre-pandemic levels, when compared with pre-pandemic research data from 2019.
PCMA’s APAC Dashboard Survey reflects similar findings. A greater proportion of planners in Asia Pacific (38 per cent) were planning to simultaneously stream their in-person events to virtual audiences, compared to their North American counterparts (17 per cent). Of the APAC respondents planning a hybrid 2021 event, nearly 80 per cent planned for their in-person and virtual audiences to interact, compared with 27 per cent of North American planners.
Learning from global leaders
Beyond digitalisation, the white paper highlights three innovation pillars to successfully reimagine the industry: Business Models; Delegate Experience; and Talent & Capabilities.
STB, PCMA and UFI obtained perspectives from international industry practitioners who embraced and exemplified these considerations, adopted a growth mindset and piloted successful concepts. The case studies from Singapore, Australia, Italy and the United States include those from event planners and organisers, venue and tour operators, industry and trade associations and a multi-sector recovery taskforce.
To read the white paper, click here.
M&IT editor Paul Harvey is a journalist with more than 15 years of experience. He began his career in the local press, working for various titles across the north. Since joining M&IT in 2013, he has become a trusted and respected voice in the sector, championing event professionals and reporting on all aspects of the events industry for the brand.
