Visa, STB sign MOU to boost local tourism, SMEs

They will develop domestic and international marketing campaigns.

Visa and the Singapore Tourism Board (STB) have signed a three-year memorandum of understanding to address the needs of the country’s tourism industry and SMEs hit by the pandemic.

They have also published a report which found out that local brands are worst impacted by the pandemic, seeing double-digit negative growth. The lack of an online presence has also left these brands more vulnerable, especially those located in tourism precincts.

STB and Visa will develop a domestic marketing campaign to raise awareness of local SMEs, whilst driving domestic consumption through Visa cardholder promotions. When international travel resumes, both organisations will launch international marketing campaigns to increase awareness of local brands and experiences in the Lion City.

Come October, both firms will tap into their respective campaigns -- #SingapoRediscovers and #WhereYouShopMatters – to encourage Singaporeans to shop at local retailers and support the domestic economy. They will also introduce joint promotions and offers in the coming months.

For the second phase, experiences in Singapore such as shopping, dining, sight-seeing, events and entertainment will be promoted through content creation, promotions and tourist privileges.