Thailand Convention & Exhibition Bureau Makes Strong Investment to Attract More ASEAN MICE Business
The Thailand Convention and Exhibition Bureau is making a significant investment; US$30 million for a three-year plan that will focus on attracting mega-events from key Asian and ASEAN+6 markets.
The plan, which targets corporate Incentive travel, includes the launch of the ASEAN Visitors Promotion Campaign.
Thailand’s MICE industry has a major role as a bridge to ASEAN economies and in boosting business opportunities both at home and abroad, according to TCEB officials.
TCEB expects the industry to generate revenues of US$ 6 billion (180 billion baht) during the coming three years.
"Our approach to stimulating the market in 2013 will focus on driving Thailand’s meetings industry in line with the government’s ‘Modern Thailand’ policy,” said Vichaya Soonthornsaratoon, acting director of the Meetings Industry Department of TCEB. “The policy seeks to create new trade and investment opportunities by positioning Thailand as the natural gateway to the ASEAN market, and a hub for creation of new region-wide business opportunities.
For the past 11 years, Thailand has hosted IT&CMA and CTW Asia-Pacific, the region’s largest international trade show for the conference and incentive travel industry.
This year’s event will be held Oct. 2-4 at the Bangkok Convention Centre. The forum, attended by more than 2,600 decision-makers, MICE operators and media representatives from 60 countries around the world, is an ideal platform to launch TCEB’s 2013 promotion campaign for the meetings and incentive travel industry, according to TCEB officials.
In order to boost the corporate meetings market in the coming three years, TCEB has allocated a 90 million baht (US$30 million) budget for two campaigns:
1. A mega-event promotion: TCEB offers financial support of US$33,000 (Baht 1 million) for corporate meetings in Thailand with duration of 3 days or more, and 1,000 or more participants;
2. TCEB offers support for events hosted continuously in Thailand for at least three years with 1,000 or more participants. The campaign focuses on five main business areas: direct selling, automotives, pharmaceuticals, finance and insurance. The level of support offered increases each year, provided that the event secures at least 10% year-on-year increase in delegate numbers.
The two campaigns, that will run in 2013-2015, are expected to result in a targeted 81,200 corporate meetings and incentive travelers, earning US$ 177 million (5.33 billion baht) during the period.
“In regard to association meetings, a 10 million baht (US$33,000) budget increase will be used to implement the “ASEAN Visitors Promotion” campaign, which aims to attract business visitors from the ASEAN+3 markets (ASEAN +Japan, Korea, China),” Soonthornsaratoon said.
She added, “The campaign aims to reinforce Thailand’s status as a hub for international meetings in Asia and establish its leadership within the AEC. The campaign offers support of Baht 1,000 (US$33) per delegate for business associations, event organizers and travel agencies to encourage hosting of meetings of a minimum of 20 delegates in Thailand.”
TCEB initially has selected groups who will hold 30 meetings, each with more than 300 participants, to participate in this promotion, which is expected to generate revenues of 800 million Baht (US$ 26.7 million) in 2013.
TCEB also will organize road shows in nine target markets: India, China, Japan, Singapore, Malaysia, Korea, Britain, France and Russia, and will join flagship MICE trade shows at IT&CMA 2012 (Thailand), IMEX America 2012 (USA), EIBTM 2012 (Spain), IME 2012 (Japan), AIME 2013 (Australia), IT&CM China 2013 (China), IMEX 2013 (Germany) AIBTM 2013 (USA), KME 2013 (Korea) and CIBTM 2013 (China).
TCEB’s allocated budget of 870 million baht (US$ 29 million) for 2013 includes 268 million baht for meetings industry promotion.
By year-end, TCEB expects to achieve its target of 750,000 MICE travelers to Thailand, with revenues forecast at 60.12 billion baht (US$2 billion), according to TCEB officials.