THAILAND continues to lead the race in Southeast Asia’s competitive MICE industry and is expected to rake in up to US$4 billion in revenues and 1.3 million MICE travelers by 2020.
This is largely due to its reliable infrastructure, international connectivity, developed transportation, widespread luxury offerings in accommodation and hospitality, well-trained private sector as well as sound regulations that control the industry.
Thailand Convention and Exhibition Bureau’s (TCEB) new president Chiruit Isarangkun Na Ayuthaya, who is determined to use the MICE as a platform for Thailand’s robust tourism industry, is keen to implement a four-step plan to achieve this.
Chiruit told TTG Asia: “To build MICE into a key sector in developing the country requires the use of four directions for enhancing the MICE industry to create more stability.”
— BizEventsThailand (@ThailandCVB) July 20, 2017
The first two of the four steps are for the industry to grow in parallel with the development of the country’s economy, as well as growing in high-potential markets in regions such as Southeast Asia, the Greater Mekong Subregion, East Asia, South Asia, and Australia/New Zealand.
He also plans for the industry to flourish with equality across Thailand’s many regions such as Chiang Mai, Khon Kaen, Pattaya/Chonburi, and Songkhla. Finally, an internal development system will be introduced to meet the needs of the market as well as better support the industry in the future.
A report released in May detailing Thailand’s business events revenues revealed the “MICE industry is one of the key sectors that Thailand intends to develop to stimulate quality visitors both within the country and abroad”.
Among the segments of the industry, meetings proved to be the most popular, controlling about 75 percent of the country’s MICE market share.