Importance Of MICE Industry

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Meetings, Incentive, Conventions, and Exhibition (MICE) Industry is a big industry outside of the country. In fact, in Australia it is bigger than other industries like mining. It only proves that tourism has a big potential in stirring up the economy. I guess there is no argument to this conclusion. The problem is doing the necessary actions to really make Tourism, and MICE as part of it, reach its potential. Here are the top 5 reasons why MICE Industry must be bolstered by the government: 1. MICE has a multiplier effect An average MICE attendees will spend 6x compared to a typical tourist. So, if for example, a backpacker tourist spends $100, our MICE tourist will spend $600 during his stay. This is a huge contribution that our government…show more content…
In general, MICE has higher value that FIT. This is the reason that JAPAN has a promotional display ad that I saw in TTG that has a statement that goes like this” Thank You Very Much for Putting MICE in Japan” International Congress & Convention Association (ICCA) statistics show, that a Total of 400,000 conferences and exhibitions are held worldwide every year at the total outlay of US$280 billion. The Global Association of the Exhibition Industry (UFI) points out that as annual MICE industry output value has already reached US$1.16 trillion (including US$400 billion for conferences and US$760 billion for exhibitions), MICE could be counted on to bring enormous economic benefit to the countries and cities that host them. [Department of Investment Services, Ministry of Economic Affairs, Taiwan]. 3. MICE is a platform for Transfer of Knowledge and Technology The country that is able to secure an International Convention or Exhibition is indeed lucky. It will not only benefit in terms of economic value but the knowledge and technology transfer that International speakers, participants or exhibitors bring is…show more content…
MICE benefits multiple industry suppliers A conference or exhibition that is International in nature involves Hotels, Airplanes, Buses, Travel and Tour Operators, Production Houses, Exhibition Venues, Catering, Corporate Giveaways, Entertainment, Freight Forwarders, Booth Suppliers and Designers and the lists goes on. This is how MICE create a snowball effect to the economy and industry related to it. In this industry the players compete but collaborate in different projects. In MICE, an entity cannot do it alone and needs a lot partners in order to make a MICE event a success. 5. MICE provides positive Image to the country Every bid won by a local organizer or association makes me proud because I know it will have a positive effect that will redound to our country. I know that if a MICE event is staged well the international visitors that participated will tell their experiences to their countrymen and the cycle starts all over. Another MICE event will again be staged in the country, all because of the past successes fellow local organizers or associations

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