DUBLIN, 3 May 2017: Research and Markets has released its latest report “Thailand MICE Industry & Forecast to 2022” that forecasts the country will host more than 1.3 million MICE travellers by 2022.
The report suggests Thailand’s Meetings, Incentives, Conventions and Exhibitions (MICE) sourced internationally will generate USD4 Billion revenue.
The MICE industry is one of the key sectors that Thailand is developing, mainly through the government’s Thailand Conventions and Exhibitions Bureau (TCEB) in a bid to draw quality international visitors.
As leisure travel booms, delivering in excess of 32 million visitors a year, there are concerns that mass market tourism is reaching unsustainable levels that could damage the country’s long-term appeal.
Promoting high revenue earning MICE travel is part of the balancing act and Thailand has achieved remarkable success in attracting high profile events for a variety of reasons.
The report identifies the country’s strengths that will continue to drive quality tourism expansion.
They are a solid basic infrastructure, strategic location, developed transportation systems, international connectivity, a well-trained private sector, continual government support and sound regulations.
Meetings control the lion’s market share of the MICE market estimated at 75% of all events hosted in 2015. This dominance will continue through 2022, according to the report, although exhibitions will begin to make gains in market share.
East Asia is the major source of MICE travellers to Thailand followed by Europe and South Asia. The Americas is the fourth leading source market for Thailand’s MICE industry. It is predicted that East Asia will continue to dominate with China holding the highest share in 2020 and that will continue beyond 2022. Japan, Malaysia and Vietnam are positioned second, third and fourth among the top supply markets.
For more information about this report visit http://www.researchandmarkets.com/research/c6zf8b/thailand_mice.