TCEB

Mice market set to beat expectations

International visitors are projected to drive Thailand's MICE (Meetings, Incentives, Conferences, and Exhibitions) segment to surpass this year's targets by 5%. Chiruit Isarangkun Na Ayuthaya, president of the Thailand Convention and Exhibition Bureau (TCEB), highlighted a robust recovery in the international market during the first three quarters of the 2024 fiscal year (October 2023 to June 2024). With 894,584 MICE arrivals generating nearly 53 billion baht, the performance has already exceeded this year's targets.

Conversely, the domestic market struggled, recording 17 million travellers generating around 56.7 billion baht, falling short of its revenue target. Despite this, the strong international market is expected to boost overall MICE revenue to 136 billion baht by the fiscal year-end, buoyed by upcoming events attracting over 1,000 participants each.

Between July and September, Thailand will host several notable events, including the IUPAC International Conference on Chemistry Education in Pattaya, the Bangkok International Digital Content Festival 2024, and the Thailand International LGBTQ+ Film & TV Festival 2024 in Bangkok.

Despite modest economic growth, Chinese travellers continued to dominate key categories in the first half of the 2024 fiscal year, according to Mr Chiruit. Of the 196,538 Chinese MICE travellers to Thailand during this period, 62,114 were part of meeting groups, followed by 57,905 in incentive groups, 48,410 in exhibitions, and 28,109 in conventions. Indians ranked second, followed by Malaysians in third, Singaporeans in fourth, and Germans in fifth place. Mr Chiruit noted an increasing trend of Chinese exhibitors exploring Southeast Asia for new business opportunities amid slower domestic consumption. Trade exhibitions in Thailand have seen a rise in Chinese pavilions, supported by local Chinese governments to promote products in the Thai market.

Regarding the government's initiative to boost tourism revenue in 55 second-tier cities, Mr Chiruit welcomed the policy but cautioned that not all cities are currently equipped to meet the standards required for the MICE market, which demands higher service levels than leisure tourism. According to TCEB's survey, there are only nine potential provinces for the Mice segment: Chiang Rai, Sukhothai, Buri Ram, Ubon Ratchathani, Kanchanaburi, Prachuap Khiri Khan, Ayutthaya, Phetchaburi and Nakhon Si Thammarat.