Alipay and Singapore Tourism Board Join Hands to Boost Chinese Tourist Spending
July 24, 2018
Alipay, the world’s leading mobile and online payment and lifestyle platform operated by Ant Financial Services Group, together with the Singapore Tourism Board (STB), have launched a series of joint marketing initiatives aimed at raising destination awareness of Singapore and driving tourist spending among Chinese visitors.
Alipay and STB signed a Memorandum of Understanding (MOU) in September 2017 to enhance Chinese tourists’ overall experience in Singapore.
Under the MOU, both parties agreed, among other things, to explore co-investing in joint-marketing initiatives to encourage Chinese tourists to spend with Alipay while in Singapore.
Since signing the MOU, Alipay has experienced double-digit growth in user spending. China has also become Singapore’s top market in 2017 for both tourism receipts and visitor arrivals, contributing S$4.2 billion in tourism receipts and 3.2 million visitor arrivals.
The marketing activities are designed to incentivize Alipay users, through rewards and discounts, to spend across different types of tourism businesses such as retail, F&B and attractions, further boosting their spending in Singapore. Alipay and STB will also create tailored itineraries that are aligned with STB’s new Passion Made Possible brand.
These itineraries will encourage Alipay users to pursue their passions by exploring and discovering new attractions, dining and shopping experiences. It will also give them more reasons to visit and spend more in Singapore.
Additionally, the partnership will deepen STB’s understanding of Chinese visitors’ consumer behavior and spending patterns, leveraging Alipay’s insights.
“With China being Singapore’s top source market for both visitor arrivals and tourist spending last year, we are pleased to partner with Alipay as their keen insights and deep understanding of Chinese consumers will help us to continue to grow in this critical market.
“We hope to continue to broaden over time our partnership with Alipay to explore more innovative marketing initiatives in the areas of content, digital and technology to further enhance the Chinese visitor experience,” said Jacqueline Ng, Director, Marketing Partnerships & Planning, STB.
“Singapore is a favorite destination for Chinese travelers. According to research released by Nielsen last year, it is one of Chinese tourists’ top ten preferred travel destinations in the world. Alipay is very pleased to be working together with the Singapore Tourism Board to ensure the consistent smart lifestyle for Chinese travelers in Singapore that they experience at home. At the same time, we are excited to connect more merchants in Singapore with Chinese tourists and be discovered by them through the app,” said Cherry Huang, General Manager, Cross-border Business for South and Southeast Asia, Alipay.
Alipay is committed to helping more local merchants be discovered by Chinese tourists and better supporting the needs of the Chinese travelers by providing a more efficient and convenient payment method via its platform. Mobile payment is gaining momentum among Chinese travelers overseas.
According to the recent Nielsen report, 65% of Chinese tourists used mobile payment platforms during their overseas travels, more than six times in comparison to non-Chinese tourists (11%). Over 90% of Chinese tourists would consider using mobile payments when traveling overseas if more overseas merchants accepted them.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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