Asia, Europe fuel MICE growth for Thailand

SPURRED by strong demand from Asian feeder markets and expanding trade from Europe, Thailand’s MICE industry grew 12 per cent over the past three quarters, chalking up a revenue of 64.3 billion baht (US$2 billion), according to the Thailand Convention & Exhibition Bureau (TCEB).

TCEB is confident the industry will bring 940,000 delegates to the country with a revenue of 88 billion baht this financial year which ends in October.

Nopparat Maythaveekulchai, TCEB’s president, said: “We expect the fourth quarter shall bring (similar) growth. The progress will be (driven) by the execution of strategic marketing movements… as well as the strengthening of Thai MICE to tackle the launch of AEC (Asean Economic Community in 2015),” he said.

International conventions were the key driver of the industry’s growth during the first three quarters of the current financial year, drawing 223,463 delegates, or 29.9 per cent of total MICE arrivals, and generating a revenue of 22.1 billion baht. Incentives drew 196,088 travellers (26.3 per cent), generating 12.5 billon baht, followed by meetings (174,701 delegates,18.2 billion baht) and international exhibitions (152,820 delegates, 11.5 billion baht).

Asia accounted for 72.7 per cent of MICE travellers (543,016 delegates), delivering revenue of 46.8 billion baht. During the same period, 83,772 European delegates visited Thailand, generating 7.2 billion baht, while MICE arrivals from the US was 43,165, contributing 3.7 billion baht.

Thailand-based DMCs have witnessed similar trends.

James Drysdale, director of Inspired Event Travel, told TTGmice e-Weekly: “The MICE market has been very buoyant, driven primarily from the Asian markets. We have seen both conference and incentive groups coming into Thailand from Australia, the UK, Europe and the US, so while Asia is the larger of the feeder markets, the other markets are performing too. Yields from Australia, the UK and the US remain higher than Asia, as has typically been the case.”

“Quoting activity is up on prior years. However, we are seeing significant downward pressure on costs. Clients are looking more than ever to maximise the reach for their spend,” he added.

Asian Trails also saw growth in its MICE business but had not experienced shortening lead times from Asian clients, which is an emerging trend across the industry.

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