TCEB to focus on 4 industries for MICE to play bigger role in Thai economy

Food security, creative soft power, health-tech innovation, and urban quality of life and mobility are four key industrial concepts that will need to be prioritised, TCEB president Chiruit Isarangkun Na Ayuthaya said on Friday.

He was unveiling the organisation's future direction during the fourth MICE Day 2024 on Friday.

The purpose of the event, he said, was to commemorate Thailand's first national exhibition, which took place on April 26, 1882, as part of King Rama VI's royal ambition to promote and market Thai products in the global market.

This annual event is expected to be a gathering place for all related parties, particularly those in the private sector, to connect and collaborate while learning about the most recent MICE measures that TCEB will provide and support.

MICE Day 2024 also features activities that benefit the MICE industry with different perspectives. Exhibitions of innovation and technology for MICE entrepreneurs are also displayed.

A larger platform

Citing this year's theme “Connecting the World, Elevating the Economy”, he said the role of MICE would not be only meeting and exhibition shows anymore, but also serve as a platform for national development by helping businesses connect.

He said each of the four flagship industries had the greatest potential to benefit Thailand's future economy.

"The four sectors are considered business areas with economic and social implications for the future. As a result, MICE can play a critical role in propelling these flagship industries to become Thailand's economic powerhouse. TCEB will connect the MICE industry with the four flagship industries in an effort to help Thailand become a high value-added MICE destination in Asia," he said.

A variety of products and services were launched at the event to support the MICE market, including:

■ Zero Carbon Platform - a carbon footprint calculator for events with the goal of achieving total sustainability.
■ EXPOINFO - a data centre for domestic and international business-to-business and business-to-consumer exhibitions, as well as an interactive dashboard for entrepreneurs to browse and summarise data into charts for event strategy design.
■ Biz Connect - a purpose-built application that contains all information needed to serve lifestyle event businesses, including event management and registration systems. The application was created to be a comprehensive all-in-one tool for a variety of events.
■ Thai MICE Connect - a comprehensive platform that compiles data on all types of MICE-related products and services, which has been developed into Thailand's first E-MICE marketplace.
■ MICE Lane - a special immigration service at major airports for MICE travellers in response to the government's visa-free scheme.

New dimension for MICE

TCEB president Chiruit pointed out that it was time to reshape the MICE industry in a way that would re-energise Thailand's economy at all levels.

“We need to organise a MICE event to help develop the four flagship industries: food security, creative soft power, health-tech innovation, and quality urban life and mobility. To have a greater impact, TCEB and other domestic and international organisers must collaborate with other parties and expand their network so that an event can create new business models or partnerships that drive the economy," he explained.

The four key industries complement the government's eight new S-curve industries under the "Ignite Thailand" vision.

According to TCEB, the MICE industry attracted 13 million business people during the first six months of fiscal year 2024 (October 2023 - March 2024), or 60% of the current fiscal year's target of 23 million people.

During the same period, revenue from MICE reached 77 billion baht, against the fiscal year target of 140 billion baht. With this promising growth, TCEB expects to exceed its target growth rate of 75% to 80% when compared to 2019.

Chiruit said that the MICE industry had experienced significant growth last year, with a 50% recovery from 2019.

High potential for growth

"MICE demand is increasing as more domestic and international events are scheduled to be held in Thailand, such as Future Energy Asia. Currently, demand from international organisers is high, but domestic MICE still requires some incentives to encourage Thai corporates to hold meetings or travel across the country," he said.

Looking ahead, the TCEB chief expressed confidence that MICE will grow significantly as a result of the government's robust policies and strong budget support, attracting more global events to Thailand, including the 2026 annual meetings of the International Monetary Fund and World Bank Board of Governors.

"We may not be the best in terms of technology, innovation, and a few other factors, but Thailand is the best place to meet. We have world-class facilities, exceptional hospitality, and professional management. This is our strength, which attracts global events to our location,” he said, adding, “We still need to add more features and standards, such as carbon neutrality, AI integration and sustainability to ensure that the event generates value.”

According to the International Congress and Convention Association, Thailand was ranked seventh in Asia Pacific and second in ASEAN for the MICE industry last year. Meanwhile, UFI, the Global Association of the Exhibition Industry, has ranked Thailand as No. 1 in ASEAN and No. 4 in Asia for 2023.