June 28 2023  |  Airlines & Airports

Jewel Changi Airport and UOB partner to incentivize inbound tourist spend

By Hibah Noor

Changi Airport in Singapore

Jewel Changi Airport (Jewel) and United Overseas Bank Limited (UOB) have entered a strategic partnership aimed at incentivizing spend among inbound tourists, especially from ASEAN (the Association of Southeast Asian Nations), and local residents.

According to the company, through this collaboration, tourists who own UOB Credit and Debit Cards issued in Malaysia, Thailand, or Indonesia as well as Citi-Branded Credit and Debit Cards issued in Malaysia, Thailand, or Vietnam will be eligible to enjoy exclusive perks, in addition to those using UOB Credit and Debit Cards issued in Singapore locally. Tourists will receive a S$10 (US$7.39) Jewel Gift Voucher with a minimum spend of S$150 (US$110.88) in a maximum of three same-day receipts. This translates to a 7% rebate in addition to other loyalty rewards that UOB and Jewel may give for the same transaction. Tourists also receive an additional S$5 (US$3.70) Retail Voucher as well as special deals on Jewel attractions tickets through the Jewel Privileges Program.

In tandem with the strong recovery and growth in air travel and increased passenger traffic at Changi Airport, Jewel has seen consistent growth in mall visitor numbers, where average monthly footfall since the start of this year until May 2023, is already trending at 80% higher compared to the three-year period from January 2020 to December 2022. This increase has been underpinned by tourist numbers, which currently make up 25% of Jewel overall footfall traffic. Particularly, average monthly travellers from ASEAN grew by almost 30% for the period from January to April 2023, over the 12-month average for 2022.

Jewel also recorded an increase of 7% on the number of transactions made by overseas travelers in Q1 2023, against the high base of Q4 2022. The biggest spenders were travelers from Indonesia, with visitors from Malaysia, Philippines, Thailand, and Vietnam also contributing significantly.

Following the completion of its acquisition of Citigroup’s consumer banking businesses in Malaysia, Thailand and Vietnam, UOB launched a regional cards campaign in May 2023, where its enlarged base of over seven million retail customers in the ASEAN region will enjoy even more perks and privileges suited to their unique lifestyles and needs via partnerships with renowned domestic and global brands. Garnering over 40 strategic partnerships with established brands across the region broadly classified under the three key spend categories of travel, retail and dining, UOB is proud to be a partner of Jewel, which crowns the Bank’s collaborations with other established regional and global names.

James Fong, CEO of Jewel Changi Airport Development, said, “The strong rebound in tourist visitor numbers at Jewel is a clear indication that it remains a must-go premier shopping and lifestyle destination for travelers to Singapore. Through this partnership with UOB, we look forward to offering an enhanced Jewel proposition to the bank’s eight million Southeast Asian cardholders outside of Singapore.”

Jacquelyn Tan, Head of Group Personal Financial services, UOB, added, “At UOB, we offer an unrivaled catalogue of the most exclusive deals and rewards to meet the unique lifestyles and needs of every cardholder. Our partnership with Jewel enables UOB cardholders in Singapore and across ASEAN to enjoy the best offers and rebates at the world-class brands and culinary experiences residing at Singapore’s premier aviation hub. This partnership further enhances UOB’s leadership in consumer cards in ASEAN, and reinforces our position as a regional bank strategically placed to capture burgeoning cross-border payment flows as travel rebounds post-pandemic.”

Jewel and UOB will collaborate on several key campaigns throughout the year-long partnership. These campaigns include the current Marvel Avengers-themed June school holiday event, Single’s Day shopping promotion in November, the year-end Christmas campaign as well as the Lunar New Year campaign in 2024.

The UOB collaboration marks the second of such long-term partnerships aimed at driving value and growing spend by local residents and travelers at Jewel, similar to the Mastercard partnership inked last year.

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