Some stats on how big the Indian Corporate Business Travel and MICE market is...
Executive Vice Chairman,
“Almost 350 billion dollars are spent annually on the MICE market across the globe.”
Area Vice President India Subcontinent, Maldives & Australia, Marriott International
“24% of business in hotels in India is MICE driven. Almost 84% of the business is actually still coming from the corporates and other 16% from associations and the likes. 83% of buyers within the Asia Pacific region wanted to stay in the region for their meetings and conferences. That shows the potential of the region and as Asia grows, meetings and conferences will play a huge part in the success of all our businesses.”
“Between 1.2 to 1.5 million Indians will travel only for MICE purposes. These might include going abroad, or those who will attend meetings and conferences, exhibitions within India. These 1.2 to 1.5 million people will induce expenses of more than Rs 5,000 crore or approx 1 to 1.3 billion US dollars.”
For Indians, the emerging number one destination in Europe is Germany. Other emerging countries are the UK, Italy, France and Switzerland. In the short-haul segment, Middle East is quite popular, especially Dubai, which is the number one destination for Indians in the region.
“In most hotels, approximately 28% to 30% of the volumes come from MICE.”
As far as India is concerned, the bright and shining beacon is the growth rate. It is almost 16% to 18% per annum. This growth rate is going to lead to exponential expansion in this segment of the market in the coming 5 to 10 years.
“25% to 30% of the hotel business today is from MICE. Many hotel companies look at MICE in a big way when it comes to partnering or managing hotels. They consider location, facilities, design and other elements. A lot of thinking goes into the planning of a successful MICE event.”
Europe gets 50% of the world’s MICE market. The number two region is Asia Pacific and the Middle East with 20% market share. Then comes the US at about 15% followed by Latin America at 10% and rest of the world contributes that is left over. The number one and number two cities across the world are Paris and Vienna.
The emerging trend in MICE is 'newness'. Destinations themselves have to look at providing 'experiences'. We need partners who provide not only safety, but guarantee of knowledge and guarantee of delivery. And delivery is not only pre-trip delivery, in-trip delivery, but also post-trip delivery. Offering ‘Recognition' is another factor. All these are intangibles, but they make for a great trip versus a good trip.