IMF-WB Annual Meetings to Generate S$200 million in spending media
04/08/2013

The Straits Times’ Home section on 7 Sep 2006 featured several articles on the upcoming International Monetary Fund-World Bank (IMF-WB) Annual Meetings to be held in Singapore this year. Spire contributed an estimation of the economic and long-term gains to be reaped.

Online PR News – 08-April-2013 – Singapore – IMF-WB Annual Meetings to Generate S$200 million in spending media
The Straits Times
7 September 2006

Meet may generate $200m in spending

Synopsis

Page 6 of the Straits Times’ Home section on 7 Sep 2006 featured several articles on the upcoming International Monetary Fund-World Bank (IMF-WB) Annual Meetings to be held in Singapore this year. Spire contributed an estimation of the economic and long-term gains to be reaped.

16,000 delegates and visitors will spend between $30 million and $50 million on such items as shopping, sightseeing, entertainment, health, food and local transport. About $30 million is projected to come from hotel and
accommodation billings.

Staging the event costs $130 million, of which $30 million is sponsored by Singapore-based companies in terms of products and services.

“A key component of the intangible benefits would be that of building up Singapore’s brand name,” said Project Management Director, Ms Koh Ee Mei. “The event will showcase aspects of Singapore other than our well-known
efficiency and cleanliness. This includes, for example, entrepreneurship, as seen in the promotion of local companies.”

Business Times
8 September 2006

IMF meet to generate $200m in new sales

Synopsis

The Business Times reported in their 8 Sep 06 edition (pg 10) on the economic generation of the IMF-WB event, based on Spire’s research.

The amount in sales is broken down into four main segments – the government’s contributions, sponsorship by locally-based companies, hotel accommodation and related billings by the delegates as well as their spending outside of the meetings.

Main contractors involved in the event such as PICO, Suntec Singapore, media and advertising agencies, and others stand to gain the most immediate economic benefits totaling S$100 million.

Weekend TODAY
9-10 September 2006

Testing, testing…

Synopsis

TODAY splashed news regarding the IMF-WB on the first two pages of their copy on 9 Sep 06, in which Spire’s Project Management Director Koh Ee Mei was featured.

The article focused on national security during the event itself, to which Koh Ee Mei said the stand taken by the Singapore government to ban protests is consistent with its past policies. To the eyes of an outsider, Singapore could either be viewed unfavourably as authoritarian or approvingly as a nation of law.

Singapore could draw more investments if the IMF-WB meeting takes off. Efforts have been taken to show the different facets of Singapore – the Biennale and side-trips catered to the delegates flaunt the nation’s culture and intellect whilst homegrown brands, such as OSIM and Eu Yan Sang, get to display their wares.

Intangible benefits in the long run include more investments, consistent stream of foreign talent, as well as the boost to the competitiveness among local companies.