China’s MICE boom fuels IT&CM appeal – TravelMole true

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China’s MICE boom fuels IT&CM appeal

Sunday, 07 Jan, 2014 0

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 US$150 billion, with tens of millions of conferences held every year.

The Chinese MICE industry itself is burgeoning at 20% annually, reflecting endless opportunities for both international and domestic MICE suppliers alike.

A 2012 study by PhoCusWright evidenced doubling of China’s travel gross bookings over a span of five years, from US$54.8 billion in 2009 to US$105.5 billion in 2013.

Returning IT&CM China luxury cruise exhibitor, Silversea Cruise’s regional director – Asia, Melvyn Yap, says: "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.

Nopparat Maythaveekulchai, president of Thailand Convention & Exhibition Bureau (TCEB), says: "China has become the number one 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, 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.

Darren Ng, managing director of TTG Asia Media – representing TTG Events, one of three co-organisers of the event – said: "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)."

IT&CM China 2014 will be held from April 15 to 17 at Shanghai World Expo Exhibition and Convention Centre.

 

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Ian Jarrett



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