Czech
China reigns among MICE industry’s Top buying markets
The rapid expansion of China’s MICE market continues to draw more international companies to target the growing industry. According to a 2011 Global Meetings Procurement Agency HelmsBriscoe report, the value of China’s conference and events industry was estimated at USD150 billion, with tens of millions of conferences held every year. The Chinese MICE industry itself is burgeoning at 20 pour cent annually, reflecting endless opportunities for both international and domestic MICE suppliers alike. Meanwhile, a 2012 study by PhoCusWright evidences doubling of China’s travel cross bookings over a span of 5 years, from USA 54.8 billion in 2009 to USD 105.5 billion in 2013.
For many MICE industry suppliers, China’s relentless growth translates to inevitable shifts in customer geographies, where the country is already amongst their top buying markets. Returning IT CM China luxury cruise exhibitor, Silversea Cruise’s regional Director – Asia, Melvyn Yap notes, “China is now our second largest Asian source market, behind Japan. We believe it has the potential to grow even bigger, especially with the Chinese interest in our expedition product to the polar regions.”
Long-time IT & CM China exhibiting destination Thailand is also experiencing the massive impact of the outbound Chinese MICE business. Concurrs Nopparat Maythaveekulchai, President of Thailand Convention Exhibition Bureau (TCEB), “China has become the number one (top) source market of MICE travellers to Thailand since 2013, and with a constant growth of the Chinese economy, we expect to welcome more business travellers and MICE visitors from China.”
IT & CM China – the leading international MICE event in China – returning for its eighth edition in 2014, is the only MICE show in China that optimises business opportunities with the Chinese on all fronts – outbound, inbound and domestic. Highlighting the strategic significance of the event, Darren Ng, managing director of TTG Asia Media – representing TTG events, one of 3-co-organisers of the event shares, “2014 exhibitors can expect to see 70 % Chinese buyers, addressing the outbound and domestic procurement for both international and Chinese suppliers respectively. The latter can also benefit from the remaining 30 % of international buyers looking to buy into China (inbound).”
China’s business events market is growing faster than any other nation. It is predicted that China will be the world’s largest contributor to the MICE industry. The IT & CM China event is set to welcome about 3,000 MICE professionals and about 400 hosted delegates. It will be held from April 15 to 17 at Shanghai World Expo Exhibition and Convention Centre.
