Singapore Tourism Board (STB) and DBS have signed a three-year Memorandum of Understanding to stimulate domestic tourism demand in the immediate term.
A first-of-its-kind collaboration between STB and a local bank, the partnership also aims to drive cross-border demand and catalyse tourism industry development in the mid- to long-term.
In the coming months, DBS and STB will invest in domestic marketing campaigns to encourage locals to rediscover homegrown tourism products and experiences. This will help stimulate local demand to complement the SingapoRediscovers campaign.
STB said in a press statement that it will work with DBS to curate attractive promotional bundles for attractions, tours and hotel stays. DBS will also tap on its predictive analytics and Intelligent Banking capabilities to provide personalised itineraries and dynamic destination content to encourage locals to learn about the myriad homegrown brands and experiences in Singapore.
The next phase of the partnership will target inbound leisure and business visitors through international marketing campaigns as Singapore progressively opens its borders. DBS and STB will customise content and introduce promotions and products for international visitors, such as flight and accommodation bundles, business events, and relevant travel insurance plans.
STB said a key thrust of the partnership is to catalyse the development of the tourism industry.
"As more locals shift their everyday payment and banking needs to their mobile phones and online platforms, DBS and STB will help homegrown tourism businesses digitally transform so they can easily reach out to customers and boost customer engagement, and better thrive in the new COVID-19 environment."
For example, both DBS and STB will partner local businesses to pilot smart experiences such as a seamless and contactless digital payment experience at various precincts. As a start, both organisations will launch a campaign to grow demand and encourage the use of DBS PayLah! at the Bugis precinct by the end of the year.
Said Shee Tse Koon, DBS Singapore Country Head, “By combining STB’s tourism expertise with DBS’ extensive tech and ecosystem network, we are confident that we can encourage more Singaporeans to come out, explore and rediscover Singapore. In addition, we look forward to supporting our local SMEs by leveraging our consumer base, data insights and technology to help them build up their resilience and unlock more business opportunities.”
Commenting on the partnership, Keith Tan, STB Chief Executive, said, “We look forward to working with DBS on precinct-specific projects such as helping smaller businesses to digitalise and implement smarter tools to engage their customers. These efforts will ensure that Singapore remains a safe, trusted and preferred destination for all our visitors.”