PESTLE Analysis Of MICE Industry In Singapore
3. PESTLE analysis of “MICE” Industry in Singapore
Singapore was known for its pro business environment and safety social environment, that caused Singapore became one of the most popular country for investment and hold a business conference or corporate event. The contents below will use “PESTLE” analysis tool to analyze Political, Economic, Social, Technology, Legal and Environment factors of Singapore “MICE” industry.
Political – Compare with other countries in the world, Singapore have a high stability, integrity, and high efficiency government. Therefore, it creates a reliable and safety image to the investors or businessmen all over the world. Plus, the Singapore government keep paying high attention on attract investors and businessmen …show more content…
Singapore is the economic center of Southeast Asia, most of the income comes from the exports. Since 2016, the prospect of global economy become better and better (2017); therefore, because the high stability of Singapore economic, many investors start to invest and hold a meeting or corporate event in Singapore. According to the finding of Tang See Kit (2017), in the first quarter of 2017, the Singapore GDP expanded 2.5%, compared with the same period of last year. Which is mean the Singapore economic is still rising, it’s a good sign for every industry. In fact, having a stable economic will help the “MICE” industry to develop faster, at the same time, having a highly development “MICE” industry will boost the economic as well, its complement each other. It’s not so difficult to understand, because when some international attendees join in a business meeting or exhibition, compare with other individual business travelers, they will have a higher chance to purchase products or do investment …show more content…
Except the multiple cultures society, the education system in Singapore is very strong, means Singapore has many professionals or experts in different industries. For the “MICE” industry, as time goes, professionals and experts become more and more valuable. Especially when an investor or businessman wants to invests on a project or purchase something, but they can not understand the quotes very clearly. In this situation, professionals or experts could be the bridge of communication, they can explain the quotes to buyers and make the business become successful. Another selling point of Singapore “MICE” industry is, almost all the Singapore citizens know how to speak English and Mandarin; therefore, when foreign investor or businessmen are holding a conference or meeting in Singapore, they don’t need to worry about the communication
Singapore was known for its pro business environment and safety social environment, that caused Singapore became one of the most popular country for investment and hold a business conference or corporate event. The contents below will use “PESTLE” analysis tool to analyze Political, Economic, Social, Technology, Legal and Environment factors of Singapore “MICE” industry.
Political – Compare with other countries in the world, Singapore have a high stability, integrity, and high efficiency government. Therefore, it creates a reliable and safety image to the investors or businessmen all over the world. Plus, the Singapore government keep paying high attention on attract investors and businessmen …show more content…
Singapore is the economic center of Southeast Asia, most of the income comes from the exports. Since 2016, the prospect of global economy become better and better (2017); therefore, because the high stability of Singapore economic, many investors start to invest and hold a meeting or corporate event in Singapore. According to the finding of Tang See Kit (2017), in the first quarter of 2017, the Singapore GDP expanded 2.5%, compared with the same period of last year. Which is mean the Singapore economic is still rising, it’s a good sign for every industry. In fact, having a stable economic will help the “MICE” industry to develop faster, at the same time, having a highly development “MICE” industry will boost the economic as well, its complement each other. It’s not so difficult to understand, because when some international attendees join in a business meeting or exhibition, compare with other individual business travelers, they will have a higher chance to purchase products or do investment …show more content…
Except the multiple cultures society, the education system in Singapore is very strong, means Singapore has many professionals or experts in different industries. For the “MICE” industry, as time goes, professionals and experts become more and more valuable. Especially when an investor or businessman wants to invests on a project or purchase something, but they can not understand the quotes very clearly. In this situation, professionals or experts could be the bridge of communication, they can explain the quotes to buyers and make the business become successful. Another selling point of Singapore “MICE” industry is, almost all the Singapore citizens know how to speak English and Mandarin; therefore, when foreign investor or businessmen are holding a conference or meeting in Singapore, they don’t need to worry about the communication