The Significance of MICE Industry

The Significance of MICE Industry

Feb 4, '20 12:31 PM

Management Evenzhub

  • MICE is a US$ 680 Billion Industry and a major contributor to economic prosperity, creating employment.
  • Today according to WTM 52 % of the World travels under the MICE segment
  • MICE generates high-value income. According to ICCA average spending by Delegate is three times more than the leisure traveler.

For many years and to a certain extent today, the perception is that anyone who comes to your destination is a tourist, it may be broken down to Leisure Traveller and Business Visitor but too often it is not recognized from that of the Leisure market.

Now that we have the necessary infrastructure and facilities, a good room inventory, a World-class meeting, and incentive venues, MICE Professionals and wonderful experiences to offer the business traveler, we need to change our marketing approach and strategy. Yes, Hospitality is the key segment of MICE, but you need to promote the destination first.

India has unique natural and cultural advantages which can give it global leadership in tourism, be it hospitality, travel, adventure, heritage, cruises, cuisines, spiritual and religious or convention business, India has a global edge. However, we have not been able to leverage the potential that India has in tourism. Despite all the potential that India has in tourism, yet we do not have even 1 % of share in world tourism. A strong message to all policymakers across states and internationally about the seriousness of tourism for India – Each one million jobs created directly will contribute to a million more jobs indirectly and each 100 basis points of GDP will most likely add another 150 basis points of GDP indirectly.

It is a recognized fact that International and Regional Conferences contribute greatly towards the building of mutual goodwill and understanding, encourage initiative between Nations and academics interaction for many associations, business needs also happen under MICE especially when it comes to Meetings and Exhibitions. This is exactly when the Conference Organizer plays an important role.

India has a clear competitive advantage to be one of the top ten Countries as a host destination for International Scientific, Technical & Medical Conferences.

India has all the prerequisites of being one of the top ten destinations in the World has more than 350 Medical Colleges, 400 Agricultural Universities, IIT’s, IIM’s. We must take advantage as most of these Organizations have a provision to underwrite Bid support and financial assistance for Conferences which come under the Technical domain.

We in the Convention Industry play a major role not only by creating better awareness of the benefits of the Conference and Convention in the context of National objective but also to support Conference Planners, Organizations, Associations, and other Trade Bodies – the bid process for International Conferences as well as to undertake marketing activities overseas.

We in the Convention Industry strongly believe that MICE is not a The industry is an economic activity that has a significant economic and social impact. To make it easier for very large Conventions to be financially supported, the Ministry of Tourism, Govt. of India has also taken initiatives in that direction and are looking at creating corpus fund for bidding for large conferences. The Corpus fund will be used to assist financially the Conference Organizer in association with ICPB and State Govt.

There is a huge potential in the Country for Convention and Exhibition business to take off in the coming future. India’s boosting economy and proactive policies of the Govt. of India augur well for the future of the Convention Industry.