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A suitable place for a corporate incentive trip.
Prior to the Covid-19 pandemic, Vietnamese businesses typically organized incentive trips for employees, dealers, or distributors 2-4 times a year. The primary considerations were budget, target participants, and the popularity of the destination.
According to a survey conducted in March 2022 by Outbox Vietnam and the Singapore Tourism Board (STB) to understand the behavior of Vietnamese businesses and business travelers, companies will continue to maintain annual incentive trips as a form of motivating employees in the post-pandemic era.
One of the major events that benefited from the island nation lifting safety regulations was the 2022 Singapore Grand Prix Formula 1 race (Photo: Formula1).
Based on the above criteria, Singapore is one of the suitable destinations due to its safety and flexible entry regulations, such as not requiring a negative Covid-19 test result before departure, even for those who have not been vaccinated.
Additionally, in the survey, businesses also highly rated destinations that can provide all-in-one services.
Vietnamese business travelers are looking forward to business opportunities in Singapore.
According to the survey, 96.3% of Vietnamese business travelers stated that the purpose of their trip was to improve their work skills, and 80.4% wanted to expand their network and seek business opportunities. Meanwhile, 71.6% wanted to attend work-related conferences, and 69.5% were interested in combining business and leisure.
The survey results also showed that the factors most influencing destination choices were visa application procedures and immigration processes. Equally important factors included a professional business environment, quality personal development programs, professional services, and natural scenery.
In addition, among businesses in Hanoi and Ho Chi Minh City, approximately 23% believe that Singapore can provide a healthy business environment and career development opportunities.
Singapore's tourism industry is recovering with major MICE events and an increase in international visitors.
Not only did Singapore attract 302,000 spectators, but it also hosted at least 25 MICE events with nearly 90,000 delegates participating during the 2022 Singapore Grand Prix Formula 1 race.
High-level conferences including the Forbes Global CEO Conference, Time 100 Leadership Forum, Crypto Token 2049 conference, and Singapore Fintech Festival have attracted attendees from over 115 countries.
Accordingly, MICE events are expected to continue to be one of Singapore's growth drivers. In addition, the Singapore Tourism Board forecasts international visitor numbers to reach 12-14 million in 2023, with the tourism industry recovering before 2024.
Kwee Wei-Lin, Chairman of the Singapore Hotel Association, described the outlook for 2023 as one of cautious optimism regarding the sustainable recovery of the tourism industry, supported by a rich MICE (Meetings, Incentives, Conferences, and Exhibitions) event landscape and reimagined experiences and services across the island nation.
According to a survey by Outbox Vietnam and STB, Singapore is a high-quality travel destination with suitable facilities for business trips. Furthermore, the island nation ranks among the top in Southeast Asia for its ability to provide training programs for personal development and a professional business environment, facilitating business network expansion, with a diverse and convenient public transportation system.
