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Marina Bay Sands, UOB and Singapore Tourism Board (STB) signed a Memorandum of Understanding to enliven the Marina Bay precinct. Signatories (Seated, from left): Kenneth Lim, STB’s Assistant Chief Executive (Marketing Group), Irene Lin, Marina Bay Sands’ Senior Vice President and Chief Marketing Officer (Resort Marketing) and Jacquelyn Tan, UOB’s Head of Group Personal Financial Services. Witnesses (Standing, from left): Melissa Ow, STB’s Chief Executive, Paul Town, Marina Bay Sands’ Chief Operating Officer, Grace Fu, Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations and Wee Ee Cheong, UOB’s Deputy Chairman and Chief Executive Officer. (Image credit: Singapore Tourism Board)
Marina Bay Sands, UOB and Singapore Tourism Board (STB) inked a Memorandum of Understanding (MoU), committing to drive awareness and strengthen visitorship to the Marina Bay precinct. This anchors the tripartite partners’ long-term vision to enhance the precinct into a leading premium lifestyle and business hub, drawing locals and visitors alike. It builds on an earlier first-of-its-kind partnership between the three organisations in the first quarter of the year (January to March 2024), which enlivened the precinct through strong programming and compelling events.
The first partnership was announced in January, headlined by the “Masterpieces. Made in Singapore” marketing campaign1 and “The Legend of the Dragon Gate – Drone Show by the Bay” drone show over Marina Bay, among other activities. A total of 26 precinct partners – from hotels and attractions to retail shops and dining establishments – also came together to roll out over 50 exclusive experiences for UOB cardholders in Singapore, Indonesia, Malaysia, Thailand and Vietnam as part of the partnership. The groundbreaking pilot partnership and its overwhelming response have paved the way for this next partnership.
Witnessed by Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Grace Fu, UOB Deputy Chairman and Chief Executive Officer Wee Ee Cheong, Marina Bay Sands’ Chief Operating Officer Paul Town and STB’s Chief Executive Melissa Ow, the MoU signing ceremony took place alongside STB’s Tourism Industry Conference, which was hosted at Sands Expo and Convention Centre. The signatories were Marina Bay Sands’ Senior Vice President and Chief Marketing Officer (Resort Marketing) Irene Lin, UOB’s Head of Group Personal Financial Services Jacquelyn Tan and STB’s Assistant Chief Executive (Marketing Group) Kenneth Lim.
The latest partnership comes as STB announced a robust outlook for 2024 tourism receipts and visitor arrivals at the Tourism Industry Conference. Notably, International Visitor Arrivals (IVA) for Q1 2024 were strong, reaching 4.4 million, which accounts for 93 per cent of pre-COVID figures in 2019.
The buoyancy is reflected broadly in the partners’ performance in the first quarter: Marina Bay Sands saw a record performance in the first three months of this year, as travel and tourism spending continues to advance. Revenue surged across the integrated resort (IR), rising 36.6 per cent to US$1.2 billion, from US$848 million in the first quarter of 2023. The IR also saw increased footfall on property, with 12 per cent growth in the first three months, lifting total visitorship since
its 2010 opening to more than 470 million. During this period, the IR hosted a spectacular calendar of events and activations, including immersive experiences during Taylor Swift | The Eras Tour, drawing fans from around the world to converge at Marina Bay Sands.
UOB observed increased spend in Singapore from cards issued in the campaign markets during the first quarter of 2024, compared to the same period in the preceding year. Inbound card spend from Indonesia, Malaysia, Thailand and Vietnam grew almost 40 per cent, 60 per cent, over 20 per cent and nearly 60 per cent respectively. In terms of total spend nationwide, the week of 4 to 10 March 2024, when international star Taylor Swift held four of her six concerts in Singapore, rang in the highest billings for UOB-acquired merchants in the first quarter of this year. Total billings in Singapore soared over 35 per cent compared to the week before, with spending across almost all tourism-related categories experiencing a marked surge. Spending at clothing retailers leaped 85 per cent, while transportation and travel grew more than 80 per cent, and amusement and entertainment crossed 50 per cent. Hotels rang in nearly 45 per cent growth in billings, and F&B establishment receipts rose more than 30 per cent.
From a geographic perspective, spending across multiple categories in the Downtown district, locations close to the Singapore Sports Hub where the concerts were held, outperformed the national levels. For example, spending at Downtown clothing outlets soared 130 per cent, transportation and travel jumped close to 80 per cent, amusement and entertainment grew nearly 60 per cent and F&B rose 35 per cent.
The “Masterpieces. Made in Singapore” marketing campaign also drew 3.2 million video views and 47 million impressions over a two-month period.
In the next collaboration, the partners will present the Marina Bay precinct as a vibrant must-visit destination with a riveting suite of experiences and explore ways to promote hotels, attractions, entertainment venues, retail and dining establishments in the area. Through the collective efforts of businesses around the Bay, the partners will unlock the precinct’s endless potential to draw world-class events and experiences and stage them in Singapore.
In the coming months, the partners will work on compelling programming around the Bay, in celebration of the Christmas and Chinese New Year festive periods. Marina Bay Sands will continue to enliven the precinct by delivering an exhilarating line-up of world-class experiences, including Broadway hits Hamilton and Miss Saigon at Sands Theatre and The World of Studio Ghibli launching at ArtScience Museum from October, among others.
Marina Bay Sands’ Irene Lin said, “The Marina Bay precinct was enlivened in the first quarter of the year, with multiple partners coming together to bring greater vibrancy to the area and create a stellar experience for guests. This next partnership recognises that the precinct has limitless potential to compete on the world stage as a leading lifestyle and business destination. Our ongoing efforts to elevate Marina Bay Sands signal our commitment to enhance the Bay, and we look forward to working with our partners to create more compelling experiences over the long term.”
UOB’s Jacquelyn Tan said, “We are excited to extend this unique partnership to make the iconic Marina Bay precinct a must-visit destination for both locals and tourists. This unprecedented partnership is the latest in our array of innovative and pioneering entertainment propositions we have acquired for our eight million customers across ASEAN, who have over the past months enjoyed exclusive ticketing access to concerts and festivals featuring internationally-renowned artistes across different genres. We will further leverage our leadership position in the lifestyle space and our unparalleled footprint across the region, to bring more unforgettable retail, dining, travel and entertainment experiences to the precinct for our local and regional cardholders. We look forward to the next partnership with great anticipation, as the possibilities for the period ahead are truly endless.”
STB’s Kenneth Lim said, “We are excited to be embarking on the next Marina Bay precinct partnership with Marina Bay Sands and UOB. Building on the success of the pilot partnership, we look forward to collaborating with the wider Marina Bay precinct partners to curate exciting experiences for both locals and overseas visitors to enjoy. Through this partnership, we aim to inspire exploration of Singapore by promoting unique offerings and programming in the Marina Bay precinct, demonstrating our continued appeal as an attractive and vibrant destination.”
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