Thailand’s MICE industry aims for high-value-added, unique offerings
The Thailand Convention and Exhibition Bureau (TCEB) has unveiled its strategic direction for 2024, setting the stage for transforming the country’s MICE (meetings, incentives, conferences, and exhibitions) industry.
The strategy was initiated following an in-depth study conducted by TCEB titled “MICE Foresight”. This study served as the foundation for envisioning the future of the MICE industry and creating a roadmap for strategic planning.
At a press conference on Tuesday, TCEB president Chiruit Isarangkun Na Ayuthaya said the study's findings would place Thailand in a position to thrive amid shifting demands in both domestic and international markets.
The global MICE industry is currently facing unprecedented challenges, from dwindling business travel to evolving preferences of attendees. These are marked by a desire for innovation, fresh venues, unique experiences, sustainability and new business objectives.
In response, he said, TCEB has charted the industry’s future course with a focus on embedding Thailand’s unique identity through innovation and creativity.
“Our guidelines will ensure that MICE activities in Thailand are distinct, unique and valuable,” Chiruit said. “We sincerely hope that in the next 10 years, the image of Thailand’s MICE industry will shine brightly as a high value-added destination, bolstering Thailand’s role as the springboard of Asia’s growth, successfully stimulating MICE industry across Asia and ensuring business growth and stability.”
Planned transformation
To achieve this, TCEB is transitioning from being a mere “facilitator” to an “enabler”. This transformation will help the bureau co-create plans with diverse partners from the public, private and local communities. This collaborative approach aims to provide enriching themes and content that not only create economic benefits but also enhance attendees’ experiences.
The bureau’s 2024 operations will be overseen by three key departments: Mega Events and Festivals, International Exhibition and Domestic MICE Market.
“The future direction of Mega Events and Festivals will leverage social, cultural and economic assets, tapping into soft power as a source of 360-degree value," he said.
The emphasis here is to craft unique one-of-a-kind experiences that will serve as a distinct selling point.
To enhance global networking opportunities, TCEB is initiating roadshows and creating a platform to tackle global challenges ahead.
Thailand topped the list in Asean and stood fourth in Asia in terms of exhibition spaces in 2022, according to the Global Association of the Exhibition Industry (UFI).
Competitive advantage
Exhibitions have played a key role in boosting revenue and attracting foreign MICE visitors to Thailand, with no fewer than 25 new shows and more in the pipeline.
“The department has been preparing for a competitive advantage by developing a tool that will aid in target group penetration in a less competitive market [Blue Ocean]. This approach will generate and expand business opportunities in the long run,” he said.
Domestic MICE travellers have been a driving force, accounting for 95% of total domestic and international MICE travellers in 2023, generating 50 billion baht in revenue.
"The domestic market is an important foundation for Thailand's MICE industry, as it helps mitigate risks from uncontrollable external factors and promotes the domestic economy. Hence, we are planning to drive ‘destination readiness’ and create ‘authentic experiences’ in all 10 MICE cities,” Chiruit said.
High scorer
The survey also showed that 650 MICE entrepreneurs worldwide had chosen Thailand as a “top of mind” destination over 14 other Asian countries.
Thailand scored high in value for money, uniqueness, readiness to accommodate, and recognised brand as a MICE destination.
However, there is room for improvement in technological advancement, safety measures, government policies, professionalism, high-value-added offerings and sustainability.
Jaruwan Suwannasart, TCEB's director of MICE Intelligence and Innovation, said Thailand must evolve beyond its tropical paradise image.
To emerge as a high-value-added destination, she noted that the country must provide MICE travellers with authentic yet dynamic experiences and offer benefits through growth, new business models, or enhanced networking.
The TCEB envisions Thailand hosting 23.2 million MICE visitors by the end of fiscal year 2024, generating 140 billion baht in revenue. This includes 960,000 international visitors contributing 63 billion baht in revenue, and 22.2 million domestic MICE visitors generating 73 billion baht in revenue.
