The bureau had been tasked with helping the Singapore Tourism Board generate overall tourism revenue of £12.8bn by 2015. But that figure, which was set in 2005, is likely to be revised downwards.
SECB assistant chief executive Melissa Ow said business travel currently contributed around 40%, or £2.1bn, towards Singapore's annual tourism revenue of around £5.2bn.
"The overall target for 2015 was SGD30bn but, due to the economic situation, we will probably have to look again at those numbers," she said. "The world has changed since 2015 and so many projects that were planned have changed direction. However, Singapore has always been a strong city for business and that will continue to be the backbone of our future success."
She was speaking during a cocktail reception last night at the Reform Club, in London, where the SECB and its venue partners showcased the city's three-year development plans.
These include the opening next year of two integrated resorts, Marina Bay Sands and Resorts World Sentosa, as well as Gardens by the Bay, Mandai Nature Kingdom and a new international cruise terminal.
It was the first stage of a European roadshow that will visit Dusseldorf, Frankfurt, Geneva, Vienna, Munich and Paris over the next two weeks.