ingapore Tourism Board ( STB ), Professional Convention Management Association ( PCMA ) and global association of the exhibition industry , UFI have launched a White Paper highlighting key pillars and case studies to support industry transformation .

Titled ‘ Reimagining Business Events – Through Covid-19 and Beyond ’, the report finds signs of strong recovery in the Asia-Pacific and a greater appetite for digital and hybrid events .

Launched at the first hybrid Singapore MICE Forum ( SMF ) x IBTM Wired at Marina Bay Sands on 28 June 2021 , the White Paper is the first such collaboration between a destination and leading associations . It takes stock of how various sectors within the industry have transformed in response to Covid-19 , and consolidates ideas from around the world to help business event organisers rethink

their offerings and operations .

Impact of Covid-19 The business events sector supported nearly 26 million jobs and contributed US $ 1.5 trillion to global GDP in 2017 , according to Events Industry Council data , which would rank it as the 13th largest economy globally , surpassing those of Australia , Mexico and Saudi Arabia .

Covid-19 changed all that . In 2020 , global travel and hospitality suffered a staggering loss of US $ 935bn . The onset of the pandemic was a wake-up call for an industry heavily dependent on physical interaction to reinvent itself . According to PCMA ’ s Covid-19 Recovery Dashboard survey ( January 2021 ), the overall willingness to travel remains mixed , with 44 % of planners and 23 % of suppliers unwilling to travel .

However , there is cause for optimism . The same survey showed that 25 % of planners and 31 % of suppliers were willing to travel any distance necessary if the programme

Above : Singapore , part of an industry troika setting the stage for business revival , along with UFI and PCMA

An evolving mindset across Asia-Pacific The White Paper also highlights strong indications of growth and innovation in the Asia-Pacific .

Data from the new ‘ Global Recovery Insights Report ’ by UFI , Explori and Society of Independent Show Organisers ( SISO - see pages 49-50 ) show that exhibitions in Asia are likely to see stronger growth in participation from both visitors and exhibitors , compared to the rest of the world .

There is also a stronger appetite for digital or hybrid events from respondents in Asia – they are more than twice as likely to have participated in such events than respondents from other regions . Furthermore , the number of events they are planning to exhibit at has recovered to its pre-pandemic levels , when compared with pre-pandemic research data from 2019 .

PCMA ’ s APAC Dashboard Survey conducted in April 2021 reflects similar findings . A greater proportion of planners in Asia Pacific ( 38 %) were planning to simultaneously stream their in-