Asia/Singapore Wednesday, 29th April 2026
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Seoul unveils 3-3-7-7 tourism campaign; MICE is a priority

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Kil: Seoul's business events prospects are bright moving into 2024.

In September 2023, Seoul’s mayor Oh Se-hoon unveiled a 3-3-7-7 tourism campaign, which sets out to achieve 30 million visitors, three million won (US$2,222) in expenditure per person, seven-day stays, and a 70 per cent revisit rate.

Of the 30 million visitors, around 20 per cent will be business events visitors, Kil Ki Yon, president and CEO of Seoul Tourism Organization (STO), told TTGmice.

Kil: Seoul’s business events prospects are bright moving into 2024

This lofty target is not out of reach, thanks to the proliferation of K-content throughout the world, which Seoul plans to ride on while diversifing its inbound business events markets.

Before the pandemic, 82 per cent of tourists who visited Seoul were from Asia-Pacific, of which China and Japan took the top two spots. However, in 1H2023, the total number of tourists from Asia-Pacific fell to 71 per cent, while that of the US and European countries increased.

Within Asia-Pacific, a larger number of arrivals from Indonesia, Vietnam, and Malaysia were also observed.

STO and its division, Seoul Convention Bureau (SCB), have also made concerted efforts to provide business events delegates with new experiences that are different from those pre-pandemic.

For instance, STO was involved in developing seasonal programmes such as a Seoul Lantern Festival at Gwanghwamun Square Market in winter, and opening a Seoul Hiking Tourism Center near Bukhansan Ui Station for bleisure guests to rent gear to hike the mountains that surround the capital city.

“The Seoul Hiking Tourism Center (is a success), having brought over 12,000 users within 16 months of its initiation. A second location will be established near Bugaksan Mountain and Inwangsan Mountain soon,” stated Kil.

Hyundai Department Store, a member of the Seoul MICE Alliance, created Korean culture experience programmes like cooking and K-pop classes, at the membership centre of each of its branches. These programmes welcome visitors’ participation.

When asked what differentiates Seoul from other business events destinations, Kil stated that SCB has gone above and beyond financial and administrative support provided by Plus Seoul – Seoul’s business events support programme – to provide memorable experiences.

“For example, a global consulting group asked to meet with the abbot of a famous temple in Seoul as part of its incentive tour, and SCB (stepped in) to help realise the request.

“Another global IT company requested to use an outdoor space that is not open to the public, and it was made available as a unique event venue to them,” he shared.

Under the Plus Seoul umbrella is the Plus Cities programme, which supports event hosting in the cities and districts surrounding Seoul. This, in turn, helped to revitalise the entire business events industry.

Kil shared: “Two weeks ago, a 3,200-pax incentive travel group visited Seoul from India. We see this as proof that more people around the world are interested in Seoul.

“I am positive that 2024 will be a better year, and more groups will come.”

Corporate travel rebounded in 2023, optimistic indicators for the year ahead: GBTA

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Photo caption: The latest GBTA Business Travel Outlook Poll reveals positive recovery sentiment, emerging forecasts, industry priorities, and potential barriers for the year ahead

The majority of professionals in the global business travel industry say the sector has reached near-full recovery this year since the pandemic days of 2019. But even as business travel has rebounded, the industry is looking ahead at key areas poised for change and impact in 2024, with an emphasis on travel cost management strategies, sustainability, the transformation of retailing models, and the integration of emerging technologies.

This is according to the latest GBTA Business Travel Outlook Poll released by the Global Business Travel Association (GBTA). The global survey offers keen insights from industry professionals on the current state of business travel and the priorities and shifts expected for 2024. Over 860 global business travel buyers, suppliers, and other industry stakeholders from 46 countries shared their insights for this 32nd poll in GBTA’s long-running survey series.

Photo caption: The latest GBTA Business Travel Outlook Poll reveals positive recovery sentiment, emerging forecasts, industry priorities, and potential barriers for the year ahead

“With some exceptions, as an industry global business travel has continued to rebound over the past year and has made great strides in getting back to business as usual. As our latest GBTA poll outlines, ongoing challenges are expected, but there are optimistic indicators for an even stronger year ahead as organisations continue to leverage business travel and face-to-face connections as a critical part of their strategy to achieve important and ambitious objectives,” said Suzanne Neufang, CEO, GBTA.

Here are some of the key takeaways from the October 2023 GBTA poll:

Business travel rebound continues in 2023

  • Most industry stakeholders surveyed (84%) report their company’s business travel in 2023 has either largely (43%) or mostly (41%) recovered when compared to their 2019 levels.
  • Domestic business travel bookings stand at 76% (up from 72% in the April 2023 GBTA poll). On the international front, bookings reached 70% of their 2019 levels (up from 63% in April).
  • Meanwhile, respondents report domestic business travel spending has reached 77% of pre-pandemic levels, while international spend sits at 74% (up from 74% and 66%, respectively, from April).

Challenges and barriers impacting the industry this year

  • Respondents say the top barriers that affected their business travel in 2023 have included corporate budgets keeping up with price increases (69%), inflation/recession concerns (63%), and geo-political events (44%). Suppliers (67%) are more likely than buyers (59%) to say inflation/recession concerns are a significant barrier.
  • On an aggregated basis, fewer stakeholders cite as top barriers workforce hiring/retention (28%), climate impact concerns (22%), travel confidence/willingness to travel (15%) and pandemic concerns (6%).
  • Buyers (44%) are more likely than suppliers (32%) to say travel disruption is a significant barrier. However, respondents overall say travel disruptions have had a slight to moderate impact on their employees’ willingness to travel for business, with only 11% of non-executive employees and 10% of executive employees reporting being greatly affected.
  • On a regional basis, stakeholders in Europe (54%) are more likely than in Asia-Pacific (23%), Latin America (23%) and North America (12%) to report climate impact concerns as a barrier. North America respondents (32%) are more likely than those in Europe (20%) to cite workforce hiring/retention as a significant barrier.

Ways of working and travelling for business

  • For 2023, more meetings of all types have been the norm. Travel buyers report increases in their employees attending in-person meetings and conferences (55%), holding virtual meetings (52%), blending travel (50%) and “linking” (multi-purpose or multi-destination) business trips (49%) versus 2022.
  • Hybrid work environments are dominant in the business travel sector, with 68% of stakeholders saying it is the current setup in their company. This has not changed from a year ago.

Priorities ahead for the industry

  • For 2024, 67% of travel buyers expect their travel budgets to increase (39%) or remain about the same (28%). Only one in 10 (14%) buyers report they are currently implementing a plan to limit business travel because of economic concerns.
  • Cost management stands out as a top strategic priority, with 62% of respondents emphasising its importance for their company’s business travel programme. Traveler safety (44%) and sustainability (37%) followed closely.
  • A significant portion (63%) of those surveyed plan to ramp up their investment in technology and digitalisation. Other areas of 2024 investment include sustainability initiatives (45%) and partnerships and alliances (40%).
  • When asked about their expenses for travel programme management (i.e., salaries, consultants, travel management company fees, etc.), 48% of respondents say their company’s 2024 budget will increase significantly or moderately year over year.

Tackling emerging technology and AI

  • Nearly half (46%) feel new industry technologies, such as New Distribution Capability (NDC), will pose the most significant technological challenges in the year ahead. An additional third (38%) cite budget constraints and system integration (32%) related to technology.
  • The potential impact of artificial intelligence (AI) on the industry in the next year remains split. About a third (32%) of all stakeholders are excited about AI, while another third (33%) feel it’s too early to predict its full impact.
  • Some travel buyers in the year ahead view implementing AI applications/tools in their corporate travel programme as important (34%), but others say it is a low or non-priority (37%) for their programme in 2024.
  • Two in five (42%) of all respondents say they have never used ChatGPT or another generative AI tool for work, while a third (33%) say they have only used it rarely.

Onward with NDC: the ongoing airline retailing evolution

  • NDC ─ a technology standard for making airline offers available to the customer regardless of the distribution channel ─ remains a focal point in the business travel sector. When asked to rank their risk-related priorities for 2024, one in five surveyed (22%) expect integrating NDC distribution channels will be most prioritised by their company.
  • Most buyers (71%) strongly feel they still need more information and education on NDC (significantly high, but down from 81% in April) – and half (50%) say they have not started to implement NDC.
  • Almost half (45%) of buyers feel airlines are pushing NDC bookings too swiftly (down from 53% in April) and more feel third-party intermediaries (36%) should be ready to handle and service NDC bookings (up from 29% in April).
  • While 32% of buyers believe their travel management company (TMC) has a good grasp on NDC, almost half (46%) feel their TMC does not have sufficient NDC information or aren’t sure (23%).

Club Med accelerates strategy to gain more corporate business‌

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Tailliez: much room to grow Club Med's MICE business. Photo: Rachel AJ Lee

Club Med has put several plans in motion to change the perception of its all-inclusive resorts as a vacation spot merely for families, and show that its properties are also suitable for corporate events or incentive groups through buyouts.

As part of the company’s strategy to grow its corporate events pie, Loic Tailliez, Club Med’s MICE executive manager, told TTGmice that the goal is to have “six times” more business events than 2019 by 2033.‌

Tailliez: much room to grow Club Med’s business events segment. Photo: Rachel AJ Lee

Currently, business events make up 13 per cent of Club Med’s business in Asia-Pacific (including China), and the company is forecasting a growth of 17 per cent CAGR.

In fact, Tailliez’s position is relatively new, having just joined Club Med earlier this year.

He explained: “This position used to oversee MICE business in both Asia-Pacific and Australia, where Australia has been largely successful in growing its business events share. However, we want to open up opportunities across Asia-Pacific. We will ensure our offerings are international, and provide corporate groups with a consistent experience, regardless of which Club Med resort (the corporate event is being held in).”

Although Club Med has identified several resorts on which its business events strategy will be built, Tailliez has chosen not to divulge which.

Club Med resorts in Asia-Pacific will target groups with some 800 attendees.

“But we think the trend will be mostly geared towards medium-sized groups of around 200 to 300 pax, and we have just the properties for that. For example, Kiroro Peak (in Hokkaido, Japan) will be able to handle a corporate group, as well as cater to leisure guests (at the same time),” he said.

Club Med makes it easy for clients to book quickly and easily through RFPs, said Tailliez.

“Companies can secure their bookings and lock in prices for events and retreats scheduled in the years ahead. This helps them deal with inflation (and the rising cost of meetings),” he remarked.

Hyatt Regency Hong Kong, Tsim Sha Tsui appoints new F&B director

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Hyatt Regency Hong Kong, Tsim Sha Tsui has named Charles Somasekar as director of food and beverage. In his new role, Somasekar will oversee food and beverage operations in all restaurants at the hotel.

The experienced operator has a career of over two decades in the industry spanning Thailand, Canada and Hong Kong.

He was the associate director of operations at Black Sheep Restaurants in Hong Kong prior to joining Hyatt Regency Hong Kong, Tsim Sha Tsui in May this year.

Oriental Hotels & Resorts seeks foothold in SEA

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Oriental Hotels & Resorts’ Serene Law; and HMJ Co’s Tsuyoshi Maeda

Japan-headquartered Oriental Hotels & Resorts aims to build awareness of its brand and properties to outbound corporate and leisure travellers from South-east Asia.

“At this point, the brand is relatively unknown outside of Japan, which is why they hired me in May 2023. I want to develop a strong brand identity and positioning, (so that it is) easily recognised by the MICE and leisure sector in South-east Asia,” Serene Law, director of sales, South-east Asia, told TTGmice.

Oriental Hotels & Resorts’ Serene Law; and HMJ Co’s Tsuyoshi Maeda. Photo: Rachel AJ Lee

Since joining the company, Law has kept busy meeting with key business event planners and travel agents at major South-east Asia tradeshows such as IT&CM Asia in Bangkok, Matta Fair in Kuala Lumpur, TTC Travel Mart in Jakarta, and ITB Asia in Singapore.

She stated: “My goal is to increase MICE business from South-east Asia by 30 to 40 per cent in the next five years. I think a good balance would be 60-40, with 60 per cent being corporate groups.”

However, Law pointed out leisure guests are just as important, as the group also manages smaller, boutique properties that are better suited for leisure guests.

As 2023 draws to a close, Law plans to continue to identify segment preferences and needs unique to the South-east Asia market, and identify several key target markets. She added that “partnerships are also important”, and plans to collaborate with event planning agencies, corporate travel management companies, as well as travel industry associations.

Oriental Hotels & Resorts’ portfolio comprises 20 hotels and resorts totalling 6,220 keys across Japan, offering a wide range of options to suit different budgets. Several more hotels in the pipeline will come online over the next few months.

Gold Coast celebrates its network of ambassadors

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Experience Gold Coast celebrated and recognised the achievements of BE Connected Gold Coast Ambassadors

On October 26, 2023, more than 90 people attended a lavish gala event at Home of The Arts (HOTA) to acknowledge 19 of the city’s industry leaders, thought leaders and innovators that make up the business events ambassador programme; BE Connected Gold Coast.

Among the Ambassadors, six received distinguished awards for their contributions, commitment and support for business events including Dinesh Palipana, Ezekiel Tan, Ljubo Vlacic and Mark von Itzstein.

Experience Gold Coast celebrated and recognised the achievements of BE Connected Gold Coast Ambassadors

Experience Gold Coast acting CEO Rachel Hancock said the evening was recognition for the individuals who represent Gold Coast business events, but also a testament to the power of collaboration, and contribution to the growth and reputation of the city.

“While all our Ambassadors contribute and go above and beyond, there are a few this year that made some truly remarkable contributions to business events and this city that need to be acknowledged,” Hancock said.

Experience Gold Coast’s head of business events Brooke Campbell said leading a bid for a conference is hard work and can span up to 10 years of work and collaboration.

“That’s commitment for people who are practising surgeons, executives, business-owners, teachers, entrepreneurs, scientists, and researchers, let alone still having time for their families. These champions in the room last night are critical to winning conferences and this is why we honour all these amazing, committed volunteers,” she said.

The organisation has confirmed 90 business events through to 2030 worth A$174 million (US$110) plus an additional 132 events in the pipeline worth A$201 million in economic impact.

Two upcoming conferences resulting from BE Connected Gold Coast Ambassadors include the Asian Pacific Conference on International Accounting Issues with 400 delegates, and the International Communication Association Conference with 3,000 delegates.

AIME 2024 brings in two new zones, new education partner

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AIME 2023 showfloor

AIME will be expanding the event’s footprint by an additional two bays at the Melbourne Convention and Exhibition Centre next year.

This growth allows the introduction of new zones, such as The Boutique and DMC Network.

AIME 2023 showfloor

A dedicated zone for the world’s boutique experience makers, The Boutique will showcase such operators as small, independently-owned wineries with intimate spaces, design-led luxury venues with distinct personalities and services to match, and other bespoke and highly customisable experiences.

Also, for the first time at AIME, a dedicated zone for Destination Management Companies (DMCs) will exist – the DMC Network. This space will bring together on-the-ground teams from all over the world to curate tailored experiences for conferences, incentives and events in their region.

AIME 2024 will also feature dedicated spaces on the showfloor for those impromptu meetings, facilitating more networking opportunities across the three days of the event.

Held alongside the AIME tradeshow, the Ideas Academy will provide visitors access to short, thought-provoking panel discussions and sessions.

Presented by industry publication Spice Magazine, each Ideas Academy session will be delivered silently via individual headphones, with high-quality, informative content providing practical takeaways for attendees to implement in their business.

Sessions will run continuously at AIME on February 20 and 21, 2024, and are free for all attendees.

Visitor registration for AIME opens November 13, 2023.

Tokyo showcases the cultural appeal of business event venues

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Kanze Noh Theater's lobby makes a remarkable venue to hold a reception or party, while its hall is ideal for seminars and conferences
Kanze Noh Theater’s lobby makes a remarkable venue to hold a reception or party, while its hall is ideal for seminars and conferences

Brought to you by Tokyo Convention & Visitors Bureau

Event organisers and planners should consider holding their next event in Tokyo as the pulsating capital of Japan promises unique sights and experiences ideal for events of various sizes.

Organisers in favour of creative event venues, especially those steeped in cultural significance and historical influences, are spoilt for choice, with a variety ranging from a Noh theatre to a traditional garden.

A Tokyo Convention & Visitors Bureau (TCVB) spokesperson told TTGmice: “Tokyo Unique Venues stands out for its unmatched variety. We have every sort of venue imaginable, from historic buildings reminiscent of Tokyo’s rich heritage to one-of-a-kind contemporary inventive spaces expected from a boundary-pushing city such as ours. Tokyo is truly the epitome of fusion.”

Kanze Noh Theater
Instead of choosing the usual modern auditorium for conferences, event organisers can opt for a cultural performance facility like the Kanze Noh Theater instead.

Noh is a highly refined and elegant traditional Japanese performance art dating from the 14th century.

Conveniently located in GINZA SIX, a popular new spot in the chic Ginza area, the classic theatre’s Lobby makes a remarkable venue to hold a reception or party, while its 1,302m² Hall is ideal for seminars and conferences accommodating 480 people.

Learning more about the traditional performance art form in the heart of Tokyo is also a unique opportunity to immerse delegates in quintessential Japanese culture.

While at the theatre, they can also catch a dramatic offering by one of its most prominent schools, or listen to a lecture about the art form.

Big organisations are already taking note of this location — this year, a major corporation capitalised on the unique venue to provide an astonishing backdrop for its conference.

Jiyugakuen Myonichikan

The Hall and Dining Hall of Jiyugakuen Myonichikan, which look out over a beautiful lawn area, and its auditorium are available for events, including formal dinners, buffet receptions and cocktail parties

As a historic building by Frank Lloyd Wright, a master of modern architecture, Jiyugakuen Myonichikan provides an impressive setting for an event.

Originally designed as a school in 1921, the historic and artistic value of the structure, reflecting both Japanese and Western aesthetics, led to its designation as an Important Cultural Property.

The 136m² Lounge Hall and 94m² Dining Hall, which look out over a beautiful lawn area, and its 455m² Auditorium are available for events, including formal dinners, buffet receptions, and cocktail parties.

The Lounge Hall can accommodate 30 seated guests and 50 people standing while the Dining Hall can take in 72 pax and 100 pax for its sitting and standing spaces respectively. The Auditorium has a seating capacity of 220.

The venue is also an excellent choice for various purposes from product launches to seminars.

For its 2021-2022 Autumn-Winter collection, a men’s apparel brand held a fashion show at the Auditorium located on the south side of the grounds.

To leverage the atmosphere of the historical venue, the decorations on the building and in the space were kept to a minimum, and a salon-style was adopted where the audience could surround the models and appreciate the entire experience.

One of the women’s fashion brands chose to stage their show in the front garden instead – where models walked on the lawn during twilight. The impressive outline of the property provided the perfect backdrop for the performance.

Kiyosumi Gardens

Kiyosumi Gardens from the Meiji period offers a natural landscape setting, complete with cultural elements and historical charms

To stage events against a natural landscape with cultural elements, planners can look to traditional Japanese gardens for added historical charm.

Comprising a large pond and man-made hills with exquisite garden rocks collected from all across Japan, Kiyosumi Gardens from the Meiji period (1868-1912) offers a splendid option that adds an element of tranquility to any business event.

The 475m² Taisho Kinenkan Hall, associated with Emperor Taisho and Empress Teimei, allows for receptions done in either formal or buffet style for an unforgettable dining experience which affords magnificent views of the garden.

It can accommodate up to 90 people for a seated dinner and 130 people for a standing reception.

Pre-dinner cocktail parties can also be held in the Ryotei lodge, which can host up to 30 people, overlooking the pond for guests to enjoy the feeling of “floating” on water.

The TCVB spokesperson added: “TCVB believes that the utilisation of cultural and historical facilities as unique venues is meaningful as it enhances the value of the location, as well as increases the significance of the business event. These facilities are pro-actively seeking to host MICE events and are flexible to accommodate different requests. TCVB has also received many inquiries and is constantly on a lookout for creative uses for the venues.”

Easy access to unique venues
Planners keen to utilise one-of-a-kind locations in Tokyo to organise memorable events can expect free quality guidance and assistance from TCVB’s experienced staff, from venue recommendations to site inspections and communication with vendors.

Tokyo Unique Venues established in 2018, in particular, underscores Tokyo’s ability to deliver on business event expectations every time.

To learn more about the city’s wide-ranging distinctive venues, visit Tokyo Unique Venues.

Matt Pearce joins UFI Board

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Matt Pearce, Australian Business Events Association’s (ABEA) board director and CEO of Talk2 Media & Events has been elected to serve on the Board of Directors at UFI, The Global Association of the Exhibition Industry.

Pearce’s three-year term will commence following UFI’s forthcoming annual General Assembly, set to take place ahead of their Global Congress November 1, 2023, in Las Vegas, US.

The appointment of Matt Pearce to the UFI Board of Directors ensures the Australian business events industry is represented on a global stage, and that ABEA itself is privy to shaping the course of the global exhibition industry.

M&E costs forecasted to surge in 2024

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Meeting planners will have their plates full with inflation, rising fuel costs, and supply chain issues next year

The cost of travel soared in 2023, as prices on airfare, hotels, and F&B as pent-up demand fuelled an eager return to in-person events. Moving into 2024, it appears that a cocktail of demand and supply side pressures will continue to push meetings and events (M&E) prices up significantly.

“Although demand from group travel, meetings and events has rebounded strongly, and there is growth in incentive travel as companies seek to motivate and reward employees, volatile fuel prices, labour shortages, inflation, and capacity restrictions have put upward pressure on prices across the whole travel and M&E supply chain,” said Petrina Goh, regional commercial director, South-east Asia & Hong Kong, CWT Meetings & Events.

Meeting planners will have their plates full with inflation, rising fuel costs, and supply chain issues next year

According to CWT’s 2024 Global Business Travel Forecast, the average daily cost per attendee for meetings and events rose 58 per cent in 2022 vs 2021. CWT expects to see the cost per attendee climb a further 5.6 per cent this year, followed by a three per cent increase in 2024.

In tier-one cities in Thailand and Vietnam such as Bangkok, Phuket, and Ho Chi Minh City, CWT is also reporting group accommodation and meeting package prices around 15 to 20 per cent higher than 2019 levels. Meanwhile, in destinations like Japan and South Korea, group accommodation rates are currently 20 to 30 per cent above 2019 levels.

Moreover, with the persistent inflation in food prices, the average F&B cost per attendee is forecast to increase 6.9 per cent this year and 2.2 per cent in 2024. Meanwhile, the average daily rate for group hotel bookings is projected to climb 4.4 per cent in 2023 and 3.5 per cent in 2024.

Manpreet Bindra, president of FCM India Meetings & Events, expects 2024 to be more expensive for M&E too. He said: “Increased energy costs, fuel costs, airfares, and global inflation are all impacting in-person events. The rapid surge back to live events has been a challenge for venues, hotels, airlines, and event planners. Travel constraints, capacity issues, labour shortages, supply chain issues and travel disruptions are all easing, but they are factors that are not expected to fully stabilise until 2024.”

This is despite global airline capacity tracking at 100 per cent for October 2023, according to Flight Centre Travel Group’s Cirium Data as of October 9, 2023. Although clocking in at 100 per cent, this is being driven by domestic capacity at 102 per cent, while international is still just below 97 per cent. Overall, carriers are seemingly more optimistic with 2024 travel, and capacity in December has increased.

For FCM, two M&E markets in Asia-Pacific stand out – India and Japan.

This comes as FCM Meetings and Events India achieved better performance than pre-Covid levels by more than 50 per cent.

“While the 2023 travel uptick reflects the removal of country restrictions coupled with a deep desire to travel, we envisage that as capacity and pricing stabilise, 2024 will be a better indicator of the true demand,” said Bindra.

Over in Japan, FCM Meetings and Events Japan finds that most four- to five-star hotels plan to raise their prices in 2024, by more than 20 per cent per room a night on top of the current rate and 50 per cent up during peak seasons. Even with higher room rates this year, hotel rooms sold out very quickly.

Many travel agencies were not able to get contract rates until the last minute, as hotels were waiting and checking their competitor’s rates. Some hotels even changed to the BAR rate instead of the contract rate. According to FCM Meetings and Events Japan, its hotel partners feel that their room rates will cool down only by the end of next year.

Inbound groups into Japan should also expect higher ground-handling in 2024, as the Ministry of Land, Infrastructure, Transport and Tourism has decided to raise the minimum rate from 10 per cent to 22 per cent, and remove the cap on maximum rates. This means that bus companies can set however high a price they want. For example, in the Kanto area, most of the bus companies raised an average of 26 per cent for all new requests from October 2023.

To combat higher prices in the coming year, Goh recommends that planners consider secondary cities such as Pattaya, Koh Samui, Phu Quoc, Nha Trang and Yogyakarta for events.

“The crowds are smaller and there’s a greater sense of exploration, learning, and well-being availability. These locations are rich in culture, have diverse offsite activities, and offer great value for money,” she elaborated. Goh also encouraged meeting and event organisers to “begin the planning process early”.

“Include your travel partners early, this way, businesses can boost their bargaining power, increase the chances of better purchases, secure better deals, and reduce the strain on execution capabilities,” agreed Bindra.

“We are still seeing extremely short lead times for events. Organisers should be looking at 2024 with a 12-month planning cycle if they want to have a good choice of locations and keep prices at a reasonable level. If you start sourcing earlier, you are in a much stronger position to secure availability and negotiate on pricing,” added Goh.

Bindra is also seeing “last-minute bookings” and events with short lead times, resulting in problems securing venues. “All these factors mean that the cost of a meeting per attendee has increased during a time when business budgets are tight, and employees are working at capacity,” stated Bindra.

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