Marina Bay Sands, UOB and Singapore Tourism Board sign new agreement

Marina Bay Sands, UOB and the Singapore Tourism Board (STB) have signed a Memorandum of Understanding (MoU), committing to boost awareness and strengthen visitor footfall at the Marina Bay precinct. This initiative cements the tripartite partners’ long-term vision of developing the venue into a world-class business and lifestyle hub, attracting locals and visitors alike. It builds on a pioneering partnership between the three organizations in the first quarter of the year (January to March 2024), which enlivened the venue with strong programming and engaging events.

The first partnership was announced in January, led by the “Masterpieces” marketing campaign. Made in Singapore » and the drone show « The Legend of the Dragon Gate – Drone Show by the Bay » over Marina Bay, among other activities. A total of 26 venue partners – from hotels and attractions to shops and restaurants – have also come together to launch more than 50 exclusive experiences for UOB cardholders in Singapore, Indonesia, Malaysia, Thailand and Vietnam as part of the partnership . The innovative pilot partnership and its overwhelming response have paved the way for this next partnership.

Witnessed by Minister of Sustainability and Environment and Minister of Trade Relations, Grace Fu, Vice President and CEO of UOB, Wee Ee Cheong, Chief Operating Officer of Marina Bay Sands, Paul Town, and CEO of STB, Melissa Wow, the MoU signing ceremony was held on the sidelines of the STB Tourism Sector Conference, which took place at the Sands Expo and Convention Centre. The signatories were Irene Lin, Senior Vice President and Chief Marketing Officer (Resort Marketing) of Marina Bay Sands, Jacquelyn Tan, Director of Personal Financial Services of UOB Group, and Kenneth Lim, Deputy General Manager (Group Marketing) of STB.

This new collaboration comes as the STB announced at the Tourism Industry Conference a strong outlook for tourism revenue and visitor arrivals in 2024. In particular, international visitor arrivals (IVA) for the First quarter of 2024 were strong, reaching 4.4 million, which is 93% of pre-COVID numbers in 2019.

Arrivals (VAT) for the first quarter of 2024 were strong, reaching 4.4 million, which is 93% of pre-COVID figures in 2019.

The dynamism is generally reflected in the partners’ results in the first quarter: Marina Bay Sands reported record results in the first three months of this year, as travel and tourism spending continues to advance. Revenue soared across the integrated resort (IR), increasing 36.6% to $1.2 billion, up from $848 million in the first quarter of 2023. The IR also saw an increase in visitor numbers, with a 12% growth in the first three months, bringing the total number of visitors since its opening in 2010 to more than 470 million. During this period, the IR hosted a spectacular calendar of events and activations, including immersive experiences during the Taylor Swift | The Eras Tour, which brought fans from all over the world to Marina Bay Sands.

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UOB saw increased spending in Singapore from cards issued in campaign markets during the first quarter of 2024, compared to the same period last year. Incoming spending with cards from Indonesia, Malaysia, Thailand and Vietnam grew by almost 40%, 60%, more than 20% and almost 60% respectively. In terms of total spending across the country, the week of the 4th to March 10, 2024, when international star Taylor Swift held four of her six concerts in Singapore, it was the highest-grossing store for businesses acquired by UOB in the first quarter of this year.

Total turnover in Singapore soared by more than 35% compared to the previous week, with a marked increase in spending in almost all tourism-related categories. Spending in clothing stores soared by 85%, while the Transportation and travel grew by more than 80%, and fun and entertainment grew by more than 50%. Hotel turnover grew by almost 45%, and restaurant income increased by more than 30%.

Geographically, spending across multiple categories in the Downtown district, located near the Singapore Sports Hub where the concerts were held, surpassed national levels. For example, spending at Downtown clothing stores skyrocketed 130%, transportation and travel increased nearly 80%, fun and entertainment grew nearly 60%, and restaurants grew by 35%.

The marketing campaign «Masterpieces. Made in Singapore” garnered 3.2 million video views and 47 million impressions in two months.

UOB saw increased spending in Singapore from cards issued in campaign markets during the first quarter of 2024, compared to the same period last year

In the upcoming collaboration, the partners will present the Marina Bay area as a vibrant must-visit destination with an exciting set of experiences and explore ways to promote hotels, attractions, entertainment venues, shops and restaurants in the area.Thanks to the efforts Collectively from the Bay’s businesses, the partners will unleash the infinite potential of the venue to attract world-class events and experiences and host them in Singapore.

In the coming months, partners will work on engaging programming across the bay to celebrate the Christmas and Chinese New Year festive periods. Marina Bay Sands will continue to enliven the area with a stimulating offering of world-class experiences, including Broadway hits Hamilton and Miss Saigon at the Sands Theater and The World of Studio Ghibli at the ArtScience Museum starting in October, among others.

Irene Lin of Marina Bay Sands said: “The Marina Bay area came alive in the first quarter of the year, with multiple partners collaborating to bring more life to the area and create a stellar experience for visitors. This new partnership recognizes that the venue has unlimited potential to compete on the global stage as a leading business and lifestyle destination. “Our continued efforts to elevate Marina Bay Sands are a testament to our commitment to improving the bay, and we look forward to working with our partners to create more engaging experiences in the long term.”

STB’s Kenneth Lim said: “We are delighted to embark on the next partnership with Marina Bay Sands and UOB. Building on the success of the pilot partnership, we look forward to collaborating with the other partners at the Marina Bay site to organize experiences “Through this partnership, we aim to inspire the exploration of Singapore by promoting unique offerings and programs at the Marina Bay precinct, demonstrating our continued appeal as an attractive and vibrant destination.” .