A better year for meetings, incentives but challenges remain: industry players

WHILE economic challenges are expected to retain the familiar sense of uncertainty among Asian meeting and incentive players, many have stepped into 2013 with greater confidence compared to a year ago.

Echoing the sentiments of most event specialists in this region, Pacific World’s regional director, Singapore and Malaysia, Selina Grocott, said: “2013 is likely to remain challenging with the uncertain global economic outlook (but) we remain optimistic as Asia-Pacific is set to continue to lead in global tourism.”

Jere Tala, director consulting APAC, Advito, said: “In 2012, most companies in Asia-Pacific had continued their spend on meetings and incentives because the region was still seeing business growth. We saw a lot of intra-Asia movements and fewer long-haul trips. This year, companies in the region will continue to spend on meetings and incentives, and again, this region will be self-sufficient.”

However, Asian event experts told TTGmice e-Weekly that familiar obstacles to business growth remained. For instance, profit margins will continue to be impacted by tight budgets and clients’ focus on returns on investment.

E T Quah, owner of Feature Tour Malaysia, noted that clients would not be “splashing out” on meetings and incentives, although a slight “upward shift in budgets for gala dinners and meals” for incentives was expected.

“It will be a pressing year for industry players to continue to balance clients’ increased demand for quality and expectations of value. Strong partnership with vendors, attention to details and creative planning have been some of our focus to ensure the success of an event,” said Grocott.

Tight lead times will also continue to be an issue, with some MICE players saying that bookings will come in only a month in advance.

Koushik Goswami, general manager-outbound, Travelcorp India, said: “Lead times will continue to be nerve-wreckingly short, and there will be last minute changes.”

– Find out how other segments of MICE are expected to unfold this year in Running Strong, TTGmice February/March issue

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