The Meetings, Incentives, Conventions and Exhibitions sector of the Tourism industry plays a unique role in the progress, development and success of a city's economy. The contributions the sector makes to economic development are numerous and yet also challenging to concretise. The relationship between the two is very much symbiotic and progress in either area seems to drive progress in the other.
Simply put, a vibrant economic and commercial enviroment leads to an increase in the gathering of business executives i.e. meetings. The more meetings there are, the more demand there will be for services which support and complement the organising of meetings. The holding of business meetings in a destination encourages the influx of foreign business executives and creates opportunities for increased commercial exchanges, investments and economic activity.
Governments and city administrators have long realised that a vibrant MICE sector significantly contributes to a vibrant economy. Even with tough global economic conditions, more efforts and investments are being channeled to develop the MICE sector. A quick glance through a recent MICE trade publication points to this. Convention visitor bureaus (CVBs) are stepping up efforts to win more MICE contracts; country and state governments are investing in more infrastructure projects to improve facilities catered for MICE events; and there appears to be a stepping up marketing efforts to brand cities and regions as top-class MICE destinations.
The outlook for 2012 appears to be positive. It is heartening for me as a MICE practitioner to read about an expected growth in MICE activity in Asia for the current year. The year is shaping up to be a positive one for the sector.
