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MICE take centre stage
This year’s ITB Asia is underpinning the MICE sector with a number of new developments, as the importance of this market grows.
According to a report published this year by Allied Market Research, the global MICE industry was valued at US$752 bn in 2016, and is projected to reach US$1,245 bn in 2023, registering a CAGR of 7.5% from 2017 to 2023. The MICE industry is complex, consisting of participants, sponsors, planners, convention and visitor bureaus, meeting venues, accommodation, and suppliers generally being involved in the planning and execution of an event. The group market of the tourism industry has witnessed exponential growth owing to rapid globalization and expansion of service industries, and the continuous evolution of scientific and technological innovations.
This year’s show thus sees the expansion of the MICE & Corporate Hub, as well as the launch of the new MICE & Corporate Speed Networking session. With its position as the leading tourism show, ITB Asia is committed to drawing opportunities across MICE, as well as leisure and corporate travel, and organisers continue to innovate.
ITB Asia is firmly on the world stage and this year’s show is bursting with opportunities for all businesses, both here in South-east Asia, and further afield.
Simon King – Associate Editor