Figure 3: Changing Face of Business Travel Accommodation. Pre-pandemic, the MICE industry hosted more than 266,000 annual events and 29 million participants, generating revenue of US$24.97 billion. As you will imagine, Madrid and Barcelona are at the top of the ranking. Recently there has been an industry trend toward using the term "meetings industry" to avoid confusion from the acronym. Which trends offer opportunities or pose threats on the European outbound tourism market? Over the years, Going Places Tours & Travel Zambia has also included business travel in its strategic plan. Exhibitions are often large events involving large amounts of people. When planning a MICE, aim to start from the beginning, asking yourself the 5 Ws and the 2 Hs first: These are the most fundamental questions for common problem solving youll need to sort out when you start planning any MICE event. A few days in a resort, hotel or popular hospitality venue at your companys expense does wonders for employee loyalty. Facilities/amenities at destination may be improved to attract businesses, for example, infrastructure, technology, accommodation. In addition, almost 60% of companies encourage their employees to extend their business trips on account of the added benefits that a satisfied employee can bring to the productivity of the business. Jun 2015. In a general way, a good beginning is to clearly know how these travelers differ from leisure tourists. You must be clear about the protocols and standards that you have in place to protect visitors. | Travel Is The Best Education! The World Travel & Tourism Council (WTTC) has launched a new set of measures to rebuild consumer confidence, reduce risk and encourage travel to resume. Its a compromise of keeping up with the latest trends and not staying left behind. European buyers are very keen to work with suppliers who have one or both and you should consider how to promote your sustainability actions as a tour operator. These visitors are clearly attending to events to execute this particular activity. The increase in demand for bleisure experiences (defined as leisure mixed with business) offers local tour operators significant opportunities to develop suitable products for the market. Conferences can last a day or a week or more, depending on the structure and purpose. You should research what virtual or hybrid events are happening in your region to see what opportunities there may be. What is the "MICE tourism"? - Dextail Stands Offsite events tend to increase the motivation of workers thanks to breaking with the work routine, they help to strengthen interpersonal relationships both internally and between workers and clients, and encourage the exchange of ideas and projects. Other points that are highly valued among professionals and attendees are innovation, sustainable solutions, easy access to information and reservations, and the importance of having our own technological and production teams instead of the event. An online magazine that users are encouraged to sign up to and selection of inspirational videos are also available online. Benidorm a Finestrat. The Bottom Line. MICE tourism is a multifaceted industry, involving a number of tourism stakeholders. The website is published in English and Russian. Magi Holidays offers services to plan, book and facilitate conferences, seminars and other business events for the MICE market. Thus, MICE events are considered one of the main solutions for the seasonality of destinations. It also indicates the scope of the challenges which must be met in coordinating the activities of different stakeholders to ensure that the MICE tourism industry is sustainable and effectively managed. Both cities have a wide range of tourism activities and attractions that would appeal to bleisure tourists. It also provides rationale for support from government agencies in many countries. MICE travel typically refers to corporate groups traveling with a particular motive in mind, whether that would be to attend an international meeting, enjoy the benefits of an incentive trip, participate in a conference or conventions, etc. The MICE market is very complex and there are many interlinked services provided by a wide range of suppliers. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Its probably the most customer-centric industry, states Tracy Fuller, President of InnovativEvents and Event Heroes. With more than 16,000 kilometers of coastline, more than 6,000 islands and islets, and a well-established tourism industry, Greece presents a prime investment opportunity in the Tourism sector. A DMC aims to offer the full range logistic services in their specialist destinations: meet & greet, transfers & transportation, hotel accommodation, restaurants, activities, excursions, conference venues, themed events and gala dinners. Examples include: The main OTAs that serve the MICE market are Expedia and Booking.com for booking flights, hotels and car hire. MICE tourism is here to stay, but much of it has/will continue to move online, meaning that the monetary value is significantly reduced. For the tourism sector: The MICE sector is a dynamic element of tourism thanks to the following qualities: Seasonality: This type of tourism is maintained throughout the year and allows business to be generated outside of the high seasons of summer and Christmas, which is when leisure tourism moves the most. Offering easy-to-use tools and a 24h support team, InEvent empowers businesses to build strong customer relationships through memorable virtual and hybrid experiences. Today, there are several webinars on business travels that highlights the features of MICE tourism and how you can leverage on them. The MICE industry is a unique, stand-alone industry for the purpose of doing business. +34 932 749 515 What are the requirements for tourism services in the European market? MICE tourism acronym stands for Meeting, Incentive Travel, Conferences and Exhibitions. A conference is an event that facilitates presentation, discussion and the showcasing of work within a professional network. The continuing MICE tourism industry growth (whether physically or online) shall have a positive impactin the growth of businesses, cities and destinations around the world. MICE is a huge and very unique market which creates huge business and value, brings lots and lots of different companies and industries together. Average spending: The other key point of MICE tourism is the high level of average spending, which is 30% higher than that of leisure tourism. Therefore, local and regional travel for smaller meetings/events is likely to resume more quickly than large conferences and exhibitions in long haul destinations. Coordinating complex trip itineraries are important parts of business travel planning. So it can increase the value, predictable satisfaction and revenue for clients, agencies, suppliers, vendors and destinations. In brief, hotel meetings and corporate events are great way to boost revenue and secure those extra bookings. She completes: And to understand the clients needs, you need to interpret beyond what they say.. this industry alone generated more than US$ 1 trillion, predicted to grow to an outstanding US$ 1,5 trillion, a survey done by The Incentive Search Foundation, Meeting City ranking of Union of International Associations (UIA), generate an annual turnover of 290 billion Euros, 178 billion Euros in 2018, representing 14,6% of the countrys GDP, I have no forecast to work in any other industry, MICE travelers also usually spend 17.5% more than leisure tourists, IAPCO International Association of Professional Congress Organizers. Did you know that around 25% of travel is accounted for by business trips? We can define MICE as unique market and type of travel and tourism. It is characterized by its seasonality (these trips occur without distinction throughout the year) and its great economic impact, since on average they generate 30% more spending than holiday or leisure tourists. The Meetings, Incentives, Conventions and Exhibitions (MICE) sector of tourism is rapidly expanding worldwide. Along with the above, the opportunities for Your main competition is other providers selling similar products. Before the pandemic, rapid growth of the MICE segment was forecast to reach US$31 billion by 2026. Lets say: a company that spies their competitors must be present to the events where theyll be. What are its main characteristics and what direction is it taking in a future marked by digitalisation and a virtual environment? Individual business travellers also expect a high level of customer service, safe and comfortable transportation, clean and comfortable accommodations, whether facilities are luxury or more basic, and high-quality catering. The growing trend for including leisure activities whilst on a business trip (bleisure) offers numerous opportunities for local tour operators to enter the market and develop leisure tourism experiences for business travellers. What requirements must MICE tourism products comply with to be allowed on the European market? Although we have already spoken extensively about the types of MICE events in the article on types of corporate events, it is useful to review certain particularities of each one. Undertake some competitive research regarding other suppliers to the MICE industry in your region or area and familiarise yourself with what they provide. Examples include. For the event itself, the customer to take in consideration is the larger audience, composed by the attendees and visitors. A full recovery to pre-pandemic levels is expected by 2025 and the value of the sector is projected to reach US$1,439.3 billion in the same year. It is a must to maintain an updated network of contacts and good relationships you your peers. Your e-mail Make sure your website is appealing to businesses and individuals. The purpose of the alliance was to strengthen inter-institutional cooperation and promote major cities as leading MICE destinations, including Sao Paulo. There is no replacement for the face-to-face networking opportunities that occur during conferences, thus physical conferences will be here to stay, although perhaps to a lesser scale. Honesty and integrity are equally important. This means that hybrid events (a mix between virtual and in-person events) are likely to increase. Technology innovation to support hosting virtual and hybrid events were being developed by venues and accommodation providers to support activities such as online registrations, live streaming and virtual reality booths. rights info@dextailstands.com, This website uses cookies to analize the visits and to give you the best experience. Read on to learn what mice tourism is, how the MICE tourism industry has grown worldwide and why this type of tourism is so important! The country's annual average temperature ranges from 22 C (71 F) to 27 C (81 F). Explore vacation and types of tourism and learn about the . If you are looking for a way to motivate your staff and enhance productivity, retention and output throughout your business, then incentive travel is often a worthwhile investment. Generates increased tourism expenditure as business travellers usually spend more than leisure tourists. In this video we will introduce the concept and talk about all of the players and stakeh.
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