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“ neighbourhood diplomacy”. adding that regional ties are“ entering a critical phase of deep linkage”.
“ We may witness a closer economic relationship between Russia, India and China, as well as between Japan and South Korea,” adds Bailey.“ The current actions of the United States seem to be pushing the rest of the world towards alternative economic partnerships.”
‘ Neutral zones’ for diplomacy Countries like Singapore are emerging as a neutral ground for diplomacy between China and foreign powers. As US-China relations worsened during the first Trump administration, The New Economy Forum, a self-styled‘ Davos of the East’ was moved from Beijing to Singapore in 2019.
“ Singapore offers … potential for international event organisers and companies to expand their footprint in Asia,” says Juliana Kua, assistant chief executive international group, Singapore Tourism Board.
Return to business formality A 2023 survey by the Global Business Travel Association( GBTA) found that 72 % of Asian business travellers still consider formal dress and etiquette important in professional meetings. This in comparison to just 34 % of
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Western respondents, for whom making deals in denim is now commonplace. In many parts of Asia, formality signals credibility.
New visa regimes in Asia Business travel to Asia is rising rapidly, but the visa rules vary significantly country to country. UK and US citizens must pay a flat fee of $ 140 for a Chinese visa. Meanwhile, EU citizens can enter visa-free for 15 days. For Thailand, starting June 2025, travellers from the UK, the US and the EU will have to register for an Electronic Travel Authorisation before arrival.
There are already talks of simplifying this process and forming a collective bloc. Thai PM Stretta Thavisin proposed a Schengen-style visa scheme in 2024 to boost inbound travel.
Currently, Southeast Asian countries rely mainly on regional travel. The proposed Schengen-style scheme would make it easier for European and North American travellers to visit Southeast Asia if they entered via Thailand first.
“ Over the last two decades, we have ramped up our marketing and trade engagement efforts to ensure a good mix of visitors from different markets,” says Kua.
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Left:
Chinese firm
BYD makes worldleading
electric
vehicles( EVs)
“ The current actions of the United States seem to be pushing the rest of the world towards alternative economic partnerships.”
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Events as national strategy In China, the private sector falls under the umbrella of the state. Major events are used as tools to achieve strategic goals. One example is the China International Import Expo( CIIE) in Shanghai. At the 2020 edition, foreign companies signed $ 72.6bn in tentative deals, many with state-owned enterprises. Events like CIIE allow China to steer inbound investment toward strategic sectors like healthcare, energy and advanced manufacturing.
Also, in the build-up to the 2024 edition of CIIE, China held a promotional event in Los Angeles called‘ 2024 Embrace CIIE, Share Shanghai ' s Opportunities’. The event aimed to increase co-operation with American companies.
With huge events scheduled in Los Angeles in coming years, including the 2026 World Cup, the 2027 Super Bowl and the 2028 Olympics, Los Angeles was a decisive choice to partner with.
Another event China runs is the Belt and Road Forum( BRF) as part of its‘ Belt and road’ policy. During the CEO Conference at the third BRF, $ 100bn worth of investments were signed across sectors like infrastructure, energy and digital technology.
More government-supported hosted buyer schemes Governments across Asia may support more hosted buyer schemes to attract influential delegates. With growing economies, these governments have the cash to invest in events budgets. Thailand Convention and Exhibition Bureau supports certain conferences by offering travel grants, visa support and matchmaking for target sectors.
Singapore and Malaysia run similar schemes, and funding for these ventures may well increase in coming years.
Global events follow spheres of influence – and influence now pours out of Asia. As the world economy pivots East, events will inevitably follow suit. n
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