Trends and Changes in the MICE Industry
Trends and Changes in the MICE Industry
When thinking about the travel business one immediately thinks of the leisure part of it. However, the MICE – Meetings, Incentives, Conferences and Events – industry is one of the major drivers in the tourism business and has experienced enormous growth over the last years. The MICE sector generates millions in revenues worldwide and the future outlook is bright as demand for meetings, incentives, congresses and events is still increasing. Today, one of the greatest challenges that businesses in the MICE industry are facing is holding a share in the increasingly competitive marketplace. The understanding of what’s motivating MICE travellers and how to attract them in the future give businesses in the industry a competitive advantage.
To successfully attract MICE business, agencies need to be open-minded and flexible in both services and facilities to be able to react to changing demands. Teambuilding has made a comeback and event planners look for innovative options for group activities. The requirement for traditional boardroom style conference rooms is changing as well. Today event managers are interested in new meeting approaches such as outdoor spaces, new seating arrangements or comfortable locations for smaller gatherings. In the past event planners based their choice of location on factors such as costs, quality and quantity of available accommodation, access to and overall attractiveness of the location. Nowadays, the choice is influenced by factors such as connectivity, technology and the quality of the experience which is offered by the facilities and the surrounding area.
The MICE industry is a competitive business and is expected to grow over the next years. As new meetings formats and technology will continue to mature it is important to keep up and assimilate these changes and adapt to latest trends. Agencies seeking to increase their share in the MICE market must create even more flexible services and embrace a new attitude towards change to offer the best experience to their guests.