Receipts and recollection: How STB’s multilateral partnerships boost spending and branding

The Singapore Tourism Board (STB) leverages the experience economy by collaborating with global brands, local firms, and destinations to offer unique experiences that attract repeat visitors and encourage greater spending. These multilateral partnerships, often involving three or more players, include financial enablers that aggregate and drive transactions.

Examples of successful collaborations include STB's partnership with Mastercard and Global Blue, which enables tourists to receive tax refunds directly into their Mastercard accounts when they make qualifying purchases. This eliminates the need to queue at the airport for refunds, thus encouraging visitors to spend more.

Another example is the partnership between Resorts World Sentosa (RWS), STB, the Sentosa Development Corporation, and DBS, which led to a Wicked-themed event featuring photo spots, light shows, and charm bracelets. The campaign also included the creation of a multisensory tea-themed exhibition at the Asian Civilisations Museum (ACM) by Chagee and ACM, where visitors could experience tea through all their senses.

STB seeks partnerships with a mix of about 40 partners every year, and it entrusts these partners to craft their own campaigns. The board recognizes that trends can be fleeting, so it strives to capitalize on them without being overly dependent on fleeting fashions. For instance, when Pop Mart wanted to work with STB on a collaboration featuring Pop Mart's Labubu character, they suggested focusing on more characters instead.

This led to a Skullpanda showcase at the National Museum of Singapore and the ongoing Crybaby installation at RWS' Singapore Oceanarium.

STB measures the success of these partnerships using various metrics, including increased spending, brand awareness, and data-driven insights that can be used to tailor products and services.