MICE revenue in Thailand lowered amid sluggish Chinese market response

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The meetings, incentives, conventions, and exhibitions (MICE) revenue forecast for the Thailand Convention and Exhibition Bureau (TCEB) has been lowered to 96 billion baht. This is less than half the recorded figures for 2019, mainly due to a sluggish response from the Chinese market.

 

TCEB’s president, Chiruit Isarangkun Na Ayuthaya disclosed that despite the strong comeback of MICE travellers from Europe, India, and South East Asia, the return of the Chinese market is essential in meeting previous projections.

 

Several unfavourable factors, including a limited number of flights and a slow visa application process for groups, are reportedly undermining the growth of the Chinese Mice market. Additionally, the Chinese government’s push for increased domestic spending to bolster local consumption has boosted China’s MICE industry, trickling down its influence in markets such as Thailand.

 

China stood as the top market for Thailand’s MICE industry in 2019, charting over 247,000 arrivals. However, the impact of Beijing’s three-year zero-Covid policy saw it slip from being one of the top five sources in the past year.

 

Meanwhile, TCEB plans on hosting roadshows in Beijing and Guangzhou in the coming week to boost transactions with Chinese buyers.

 

By Alex Morgan

Caption: Photo courtesy of Bangkok Post

 

Full Story: https://thethaiger.com/news/business/thailands-mice-sector-revenue-forecast-lowered-amid-sluggish-chinese-market-response

 

-- © Copyright Thaiger 2023-08-07

 

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