Rising costs push corporate events to cheaper Southeast Asian cities
Singapore has long been a leading hub for Meetings, Incentives, Conferences, and Exhibitions (MICE), but rising costs are prompting businesses to consider alternative destinations in Southeast Asia.
Cost-conscious shift
Over the past two years, event management companies based in Singapore have reported an increase in corporate clients exploring cheaper alternatives in the region. Cities like Melaka, Bangkok, and Jakarta are emerging as competitive options for business events.
Malaysia’s bid for MICE dominance
One entrepreneur leading this shift is David Toh, founder of The Ebenex Group, who is working to transform Melaka into a major MICE and live entertainment destination. He has partnered with Malaysian real estate conglomerate Hatten Group to launch 828 Asia, a S$1 million joint venture aimed at developing Melaka’s event infrastructure. Already, 12 venue spaces covering over 200,000 square feet have been secured for the project.
The future of Singapore’s MICE industry
Despite these trends, Singapore continues to attract high-profile international events and remains a global leader in business tourism. However, cost pressures and growing regional competition could challenge its dominance in the long run. Industry experts suggest that Singapore must innovate and enhance its value proposition to maintain its MICE leadership position.
