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China Reigns Among MICE Industry’s Top Buying Markets

  • Published by Vedat
According to a 2011 Global Meetings Procurement Agency HelmsBriscoe report, the value of China’s conference and events industry was estimated at USD150 billion, with tens of millions of conferences held every year.

The Chinese MICE industry itself is burgeoning at 20% annually, reflecting endless opportunities for both international and domestic MICE suppliers alike. Meanwhile, a 2012 study by PhoCusWright evidenced doubling of China’s travel gross bookings over a span of 5 years, from USD 54.8 billion in 2009 to USD 105.5 billion in 2013.

For many MICE industry suppliers, China’s relentless growth translates to inevitable shifts in customer geographies, where the country is already amongst their top buying markets. Returning IT&CM China luxury cruise exhibitor, Silversea Cruise’s Regional Director – Asia, Melvyn Yap notes, “China is now our second largest Asian source market, behind Japan. We believe it has the potential to grow even bigger, especially with the Chinese interest in our expedition product to the polar regions.”

Long-time IT&CM China exhibiting destination Thailand is also experiencing the massive impact of the outbound Chinese MICE business. Concurrs Nopparat Maythaveekulchai, President of Thailand Convention & Exhibition Bureau (TCEB), “China has become the number one (top) source market of MICE travellers to Thailand since 2013, and with a constant growth of the Chinese economy; we expect to welcome more business travellers and MICE visitors from China.”

Other returning exhibitors to IT&CM China 2014 cite strong business generation results as a reason for coming back to the show. Dorinda Chua, Assistant Vice President – Global Sales of Dusit International, says, “We are expecting revenues in excess of USD 500,000 from the direct discussions that took place at the 2013 event.” Meanwhile, Charles Lai, Vice President – Sales & Marketing of international hospitality chain Kempinski Hotels, China, estimates that actual business generated from their 2013 participation aggregates about USD 850,000.

IT&CM China – The Leading International MICE Event In China – returning for its eighth edition in 2014, is the only MICE show in China that optimises business opportunities with the Chinese on all fronts – Outbound, Inbound and Domestic. Highlighting the strategic significance of the event, Darren Ng, Managing Director of TTG Asia Media – representing TTG Events, one of 3 co-organisers of the event shares, “2014 exhibitors can expect to see 70% Chinese buyers, addressing the outbound and domestic procurement for both International and Chinese suppliers respectively. The latter can also benefit from the remaining 30% of international buyers looking to buy into China (inbound).”

Chen Yueliang, Vice-President of China International Travel Service (CITS) Limited – co-organiser of IT&CM China, echoes in agreement, “China’s business events market is growing faster than any other nation. It is predicted that China will be the world’s largest contributor to this industry. With domestic and international demand driving surges in group meetings and events travel, both Chinese industry suppliers and buyers alike will find IT&CM China an ideal platform to expand their business networks. CITS is excited about playing a significant role in delivering these delegates to the event.”

The 2014 IT&CM China event is set to welcome approximately 3,000 MICE professionals from sectors including DMCs, PCOs, corporate travel and associations. The show will also feature 400 hosted delegates, over 10,000 business appointments set to be conducted, and more than 60 business, education and networking sessions planned for delegates. Organisers are expecting 67% new buyers with a targeted ratio of 1.25 buyers to 1 exhibiting company. IT&CM China 2014 will also be anchoring the Shanghai Business Events Week (SBEW) featuring 8 industry business, education and networking events.

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