STB and Visa to offer bigger host of travel promotions

Strategic partnership to help boost visitor arrivals to Singapore and stimulate visitor spending

Singapore, 7 October 2009 – Visa and the Singapore Tourism Board (STB) signed a memorandum of understanding (MOU) today to jointly promote Singapore to Visa cardholders
over three years.

Under this MOU, Visa cardholders visiting Singapore will enjoy exclusive benefits and promotions with merchants, retail associations and attractions during events such as Christmas in the Tropics, the Singapore 2010 Youth Olympic Games and the Singapore Grand Prix Season. This strategic marketing partnership aims to attract more visitors to Singapore and help stimulate visitors’ spending while they are here.

Mr. David Lee, President, Asia Pacific, Visa said, “Today marks an important milestone for Visa in partnering with STB to support the promotion of Singapore as a destination of choice. We want to encourage more travellers to put Singapore on their travel itinerary, whether for work or leisure, and while here, enjoy the security and convenience when using their Visa card. When they come to Singapore we want them to know there are great experiences, exciting shopping benefits for
Visa cardholders all-year round and during ‘Christmas in the Tropics’, the Singapore Grand Prix Season and the Singapore 2010 Youth Olympic Games where Visa will be the only card
accepted onsite at the Games.”

“As a worldwide partner of the Olympic Games, Visa is happy to work with STB on marketing campaigns targeted at cardholders both in Singapore and to help increase Singapore inbound tourism during the months leading up to the Singapore 2010 Youth Olympic Games,” Mr Lee said.

Said Ms Aw Kah Peng, Chief Executive, STB: “We are excited to work with Visa, an established and trusted brand in the travel and tourism industry. Not only will this partnership enable
consumers to benefit from the exclusive privileges and enjoy the convenience and peace of mind offered by Visa, it will also enable us to reach out to potential travellers in many of our key source markets in a targeted way.”

From hosting world-class events, such as the FORMULA ONE night race and the Singapore Grand Prix Season, to offering a new-look Orchard Road with trendy malls like ION Orchard,
Orchard Central and 313 @ Somerset, the tourism landscape in Singapore has never been more vibrant. With the completion of iconic tourism products such as the integrated resorts, the
International Cruise Terminal, the River Safari and Gardens by the Bay within the next few years, Singapore will present more exciting lifestyle and entertainment options to visitors.

Coupled with the trend of shorter trips to destinations closer to home, greater accessibility afforded by competitive pricing of air travel within the region, and increasing preference for planning trips and making transactions online, the partnership between STB and Visa is indeed timely.

Said Ms Aw: “Through joint marketing efforts to promote Singapore and its events to Visa cardholders, we want to entice more people to travel to our city and experience the many exciting travel and lifestyle products that we have here in Singapore.”

This partnership is part of STB’s overall strategy to work with like-minded organisations to promote Singapore as a choice destination and enhance the Singapore experience for visitors.

Visa is a longtime supporter of tourism industries throughout the world, with a network consisting of more than 28 million merchant outlets and 1.7 billion cards in circulation worldwide. As a result of its strategic partnerships with many merchants and corporations around the world, Visa cardholders benefit from travel, accommodation and entertainment promotions. These extensive merchant and marketing relationships, as well as Visa’s unsurpassed acceptance around the world, has helped to encourage growth in retail, travel and entertainment segments.