Marina Bay Sands, UOB and Singapore Tourism Board Enter Next Partnership to Enhance Marina Bay Precinct

Representatives from MBS, UOB and STB signed a MOU to enliven the Marina Bay precinct

Singapore (10 May 2024) – Marina Bay Sands, UOB and Singapore Tourism Board (STB) inked a Memorandum of Understanding (MoU) today, 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 campaign[1] 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.”

[1] The campaign built on the marketing efforts of all three parties – STB’s Made in Singapore global brand campaign, Marina Bay Sands’ Bay Precinct Strategy, and UOB’s strategy to provide exclusive access to the best Travel, Shop, Dine and Entertainment events across ASEAN.

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About Marina Bay Sands Pte Ltd

Marina Bay Sands is Asia’s leading business, leisure and entertainment destination. The integrated resort features Singapore’s largest hotel with approximately 1,850 luxurious rooms and suites, crowned by the spectacular Sands SkyPark and iconic infinity pool. Its stunning architecture and compelling programming, including state-of-the-art convention and exhibition facilities, Asia’s best luxury shopping mall, world-class dining and entertainment, as well as cutting-edge exhibitions at ArtScience Museum, have transformed the country’s skyline and tourism landscape since it opened in 2010.

Marina Bay Sands is dedicated to being a good corporate citizen to serve its people, communities and environment. As one of the largest players in hospitality, it employs more than 11,500 Team Members across the property. It drives social impact through its community engagement programme, Sands Cares, and leads environmental stewardship through its global sustainability programme, Sands ECO360.

About UOB

UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.

For nearly nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.

The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.

About the Singapore Tourism Board

The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.