03 Jan Meetings Industry: Global Trend and Opportunity
Meetings industry is part of the tourism sector that includes both business events and activities. In tourism and hospitality realm, the term MICE (Meetings, Incentives, Conventions and Exhibitions) commonly used to represent this type of industry. Travellers attending MICE activities usually have purpose beyond leisure tourism, share common interest, and gather in a certain place. The venue is supposed to arrange beforehand along with all facilities to satisfy the needs of the attendees. Based on Global MICE Industry: Opportunity and Forecasts 2017 – 2023, meetings segment is dominated the MICE industry in 2016, estimated to show more positive growth rate and expected to reach US$ 1,245 billion by 2023 globally.
In order to improve Indonesia’s competitiveness, Indonesia Convention and Exhibition Bureau (INACEB) established since March 2016 under Ministry of Tourism. Cited from its website, MICE attendees have certain advantages compare to leisure travellers. The attendees usually come from several background and most of them are opinion leader with the power of word-of-mouth. For example, businessmen, professionals, and government doing MICE activities during low season. Based on International Congress and Convention Association (ICCA), they also come in large number with expenditure rate seven times more than leisure travellers. At the same time, the attendees also have the potential to convert into leisure travellers.
Annual Meetings of the International Monetary Fund and the World Bank Group that took place in Bali Nusa Dua Convention Center (BNDCC), on October 12th – 14th 2018, is a conclusive evidence of how Indonesia gain multiple benefits in tourism sector while hosting the event. Local media reported that Central Bank of Indonesia (BI) projecting the economic gained worth IDR 5,7 trillion. During the event, more than 2.000 meetings, conferences, seminars, forums and other side events were held. It is clear that the MICE industry as the organizer enjoy direct benefits from the business contract to supply operational needs. At least 15.000 delegates consist of Governor of Central Bank and Minister of Finance from 189 countries, private sectors, NGO, think tanks, and journalist attended the event.
With more than 2.000 international journalist and media crew, it became a wide range of international exposure to promote Indonesia, especially Bali for business and leisure destination. The delegates also bring their partners and relatives that then converted into leisure travellers. Hotels, restaurants, Travel Agent, tourism destinations, souvenir shops, entertainment area and other places especially in Bali absolutely gained direct benefits. In addition, local media coverage more than a week is likely to boost domestic tourist arrival in Bali.