The Thailand Convention and Exhibition Bureau (Public Organization) or TCEB has launched the first Thailand Incentive & Meeting Exchange 2016 programme or TIME 2016, offering the MICE industry a new platform for knowledge exchange and business negotiations. With an initial focus on Meetings and Incentives in China, a key MICE market for Thailand, TIME 2016 is earmarked as a flagship project that will broaden its scope to provide market information covering all MICE market segments and key countries.
Mr. Nopparat Maythaveekulchai, president of TCEB revealed that, “The Business Meetings & Incentives or MI segment of the MICE industry has achieved its target last year in terms of visitor numbers and revenues. Last year the MICE industry as a whole attracted 1,095,995 visitors, contributing THB 95.9 billion baht (US$2.7 billion) to total MICE industry revenues. MICE customers from China were ranked first, followed by the India, Singapore, Malaysia, USA, Japan, Korea, Indonesia, Hong Kong and Australia. Of this total, MI accounted for 516,663 group travelers generating revenues of 44.5 billion baht (US$1.25 billion).
In first three quarters of the 2016 fiscal year, Thailand welcomed 750,742 MICE travelers, generating revenues of 60.593 billion baht (US$ 1.7 billion). China dominates the market, followed by India and Singapore. Of this total, MI accounted for 393,859 visitors, generating 29.7 billion baht (US$ 837 million) in revenues”
“Building on the continuing healthy growth of MI, TCEB recognises the importance of supporting the development and capability of the private sector in order to meet an expanding demand in the region and globally. This is the basis for establishing the Thailand Incentive & Meeting Exchange 2016 or TIME 2016 for the first time in Thailand. In a broad collaboration with private sector partners and industry bodies, the TIME 2016 initiative offers a new platform for knowledge sharing among MICE operators to support the MI business, for example in providing strategic marketing guidance and exchange of perspectives. It also aims to expand the MICE industry by targeting quality MICE travelers with high potential spending power. This will help to stimulate Thailand’s broader economy.
This first event is focused on the Chinese MICE market, which is highly diversified, with its own unique market structure and needs. Last year’s strong growth in this market has continued into the third quarter of this fiscal year, highlighting the exciting potential of the Chinese market. TCEB aims to attract Chinese MICE events to Thailand through a series of marketing campaigns and promotions to present a wide range of innovative MICE products and services tailored to the Chinese market. We are confident that the TIME 2016 event can play a major role in helping Thai MICE operators boost both numbers and quality of Chinese MICE events held in Thailand.”
TIME 2016 will comprise the following three activities:
Knowledge Exchange: a platform to exchange MI industry knowledge, in the form of a Forum with invited MI experts as keynote speakers, presenting key issues including analyses of China’s MICE industry, selection of MICE destinations for Chinese organizations, etc. Approximately 150 Thai MICE industry operators will participate in the event.
Business Exchange: A Table-top Session for direct business negotiations will create new sales and marketing opportunities for Thai MICE operators and more than 40 MICE Agents from China.
Experience Exchange: A ‘Mega Familiarisation Trip’ to Phuket will be organised for 40-45 Chinese MICE agents, media and corporate customers, in order to create awareness of the potential and world-class quality of venues and amenities available, and promote the market among Chinese operators. Phuket is already gaining strong and increasing interest from Chinese MICE operators as a result of the success of Phuket as a MICE City.
“In terms of TCEB’s target for MI this year, we anticipate a total of 518,000 visitors in the MI segment, with total revenues around 44 billion baht (US$1.24 billion). We have set a target for the overall MICE industry of 1.06 million visitors, generating revenues of 92 billion baht (US$ 2.59 billion). Key MI events this year include Infinitus China Overseas Training 2016, with over 14,000 participants, and Pro-Health, with 5,500 visitors,” Mr Nopparat said, in conclusion.