MICE industry in Thailand and its importance on economy
The MICE industry refers to the industry that includes meetings, incentives, conferences and exhibitions (MICE). This industry is a part of the tourism sector in which large group of people plan a get together for purpose. The event industry or meeting industry has been termed as an umbrella term for this industry. Apart from the four aspects lying in this industry, the incentive tourism is undertaken with an aim to provide reward to the employees for completion of their objectives. This type of tourism is especially taken for the purpose of entertainment and not for professional or education purposes (Huang, & Chung, 2016). Further, the aim of this report is to enlighten the reader about the details of the MICE industry in Thailand and its importance on the economy of the country. It also evaluates the efforts of tourism promoters present in the industry in attracting more events for this industry. Co-relation of Thailand tourism suppliers and promoters is also looked in this case along with the impact of this industry on Thailand. Further, more details about the report are discussed below:
The fact is known worldwide that the country Thailand is the pinnacle of the current MICE industry worldwide. Also, the country is aiming to invest more in this field so as to increase the economy as well. Thailand wants to become the global leader of this industry by investing more on infrastructure, education, tourism etc. are improve their capabilities as well. Armed with knowledge management, marketing experts and networking, the country that started developing interest of people in this industry and attain professionals that can lead the Thailand’s MICE industry into the future. Further, it should be noted that the country Thailand includes attractiveness and charm of diversified culture as well (TCEB, 2018).
The country is has world famous and refined hospitality and environment that gives a push to the MICE industry. Resulting in which, growth of this industry in Thailand act as a success factor for the economy. The development of MICE industry gives a boost to the tourism and hospitality industry of the country that is a direct contributor in the economy of Thailand. Also, the fact should be noted that the developing industry is gradually developing the country as well by the way of infrastructure, education etc. The development of MICE industry in Thailand has also developed the country in these 12 essential sectors. These sectors are, food and agribusiness, automotive and auto parts, plastic, education, infrastructure, energy, tourism, rubber, professional services, medical healthcare, agriculture and lastly, electronics (Thumachai, et. al., 2017).
Source: (TCEB, 2015)
The above mentioned graph depicts the development of the MICE industry in the country Thailand. The economy of the country in growing fast by the impressive contribution of this industry. The industry has created various jobs for people and attracted people from out of the world as well. Tourism is a major part of the GDP of the country and MICE industry contributes a great amount to the tourism sector of the Thailand (Sandy Sou, & McCartney, 2015).
Tourism promoters’ effort in attracting more MICE events for Thailand
Tourism promoters are the individuals or organizations that exists to helps the tourists and travellers make plans for trips, organize plans, and outline various other vacation details. In a MICE industry, there are basically three promoters namely, travel agents, tour wholesaler and destination management companies. In the country Thailand, along with tourism promoters, the TCEB (Thailand Convention and Exhibition Bureau) plays a major role in attracting people in the MICE industry. The TCEB has created a 10 Year Asean Tourism Strategy to promote the country as the single MICE destination and attract more quality visitors as well (Nelson, 2014).
The country Thailand has already many variants that automatically attract people in the country and then the tourism promoter plays a major role in refining the attributes of the country and attracting the skimmed people. The tourism promoters provide various perks to the people present in other parts of world to come a travel in Thailand (Buathong, & Lai, 2017). The TCEB attracts more MICE investment in the country that ultimately contributes to the initiation of more MICE events in the country. The TCEB has also joined hands with the United Nations World Tourism Organisation (UNWTO) to provide knowledge and policy exchange. This tie-up also drives regional ties with the mutually beneficial goal of accommodating MICE travellers from worldwide (Sumithra, & Mishra, 2016).
In relation to the above mentioned role of the tourism promoters in attracting customers in MICE industry, the country Thailand also plays a major in this case. All the three aspects are coo-related with each other. Firstly, beginning from the country Thailand, the fact should be noted that the country itself is occupied with culture, nature and infrastructure that attract people in the MICE industry of the country (Garin, & Jarumaneerat, 2017). Further, coming up to the part of the tourism promoters who helps people in making travel plans and completing it, these people provide such great deals for the people coming to Thailand at minimal prices so that they can travel at a cost friendly price as well. Further, the tourism suppliers also contributes in a similar way in uplifting the interest of society and helping the travellers get a pleasant experience while visiting the country as well. Further, it should be noted that the positive attributes present in Thailand makes it easy for the tourism promoters and suppliers to attract the customers in the MICE industry. Also the country has identified the MICE industry as a potential sector in which they can grow and expand the GDP as well (Batra, 2016).
The overall impact of the MICE industry in Thailand can be looked as a positive factor that gave a boost to the GDP of the country. In regards to develop this industry, the communities have started taking care of the environment because the tourism sector and MICE industry is directly linked to nature, beauty, environment and various other attributes. The MICE industry in Thailand has contributed 0.77% to the overall GDP of Thailand of the year 2014. The industry contributed an estimated amount of $3200 million to the GDP of the country in the year 2015. The overall 0.77% includes 0.17% of exhibition, 0.24% of convention, 0.15% of Incentives and 0.21% of meetings. Apart from the economic growth of the company, this industry also contributed to the employment as well (TCEB, 2015).
Co-relation of the Thailand, tourism suppliers and tourism promoters in this aspect
Employment is one of the most important factors that help in boosting up the economy of country. The MICE industry of Thailand also contributes in health revenue as well. In the field of infrastructure, the MICE industry helped the airlines and shipping industry to become extensively great national highway system. Traffic management and safety equipments along with pollution reduction facilities are initiated in the community so as to develop a long lasting experience on the minds of the traveller (Sangpikul, & Kim, 2009). The government of the country has started investing in development of niche markets like holidays, healthcare, weddings etc. so as to increase the attention of prospective people in the country. High potential business opportunities along with the kingdom of rewarding leisure in the country Thailand helps in impressively increasing the economy of the country (Wongtada, & Krairit, 2017).
Recommendation and Conclusion:
Looking at the various attributes of the MICE industry of Thailand, it should be recommended to the major players of the industry that they should start collaborating with various other countries like Vietnam, Cambodia etc. in order to increase the overall graph of MICE industry and mutually benefit the countries by eliminating competition. Thailand is an ideal location but it should be communicated to all through the means of promotion and advertisements so as to increase the value of the industry. Further, in the limelight of above mentioned events, the fact should be noted that the above mentioned report explained the role of MICE industry in developing the economy of the country along with the role of tourism promoters and suppliers in attracting customers in Thailand. The MICE industry is a fast growing industry that is going to provide good returns to the country if they invest in it. Thailand is an ideal place for tourism and MICE industry worldwide.
References:
Batra, A. (2016). Bridging the gap between tourism education, tourism industry and graduate employability: intricacies and emerging issues in Thailand. ABAC Journal, 36(2), 78-89.
Buathong, K., & Lai, P. C. (2017). Perceived Attributes of Event Sustainability in the MICE Industry in Thailand: A Viewpoint from Governmental, Academic, Venue and Practitioner. Sustainability, 9(7), 1151.
Garin, F. A., & Jarumaneerat, T. (2017). Awareness and Implementation of Green Practices in the Meetings-, Incentives-, Conventions-and Exhibitions-(MICE) Industry: The Case of Phuket, Thailand. Organized by Dusit Thani College 29 November–2 December 2017 Bangkok, Thailand, 16.
Huang, H. H., & Chung, T. T. (2016). Building competitive advantages and restructure resources: A case of Taiwan’s exhibition industry. International Journal of Organizational Innovation (Online), 8(3), 112.
Nelson, R. (2014, January). World Conference on Hospitality, Tourism, &, Event Research and International Convention & Expo Summit Bangkok, Thailand May 25-28, 2013. In Journal of Convention & Event Tourism. 15(1), 2-5. Taylor & Francis Group.
Sandy Sou, K. I., & McCartney, G. (2015). An assessment of the human resources challenges of Macao’s meeting, incentive, convention, and exhibition (MICE) industry. Journal of Human Resources in Hospitality & Tourism, 14(3), 244-266.
Sangpikul, A., & Kim, S. (2009, September). An overview and identification of barriers affecting the meeting and convention industry in Thailand. In Journal of Convention & Event Tourism. 10(3), 185-210. Taylor & Francis Group.
Sumithra, D., & Mishra, J. M. (2016). Efficacy Of Mice Tourism Industry And Supply Chain Management As An Integrated Approach. International Journal of Management Research and Reviews, 6(7), 894.
TCEB., (2015). Economic Impact of MICE in Thailand. Retrieved from < file:///C:/Users/Laptop04011/Downloads/2015%20Economic%20impact%20of%20MICE%20in%20Thailand.pdf>
TCEB., (2018). Key MICE Industry. Retrieved from < https://www.businesseventsthailand.com/why-thailand/key-mice-industry/>
Thumachai, C., Chawalit, P., Chinnakum, W., Chaiboonsri, C., Saosaovaphak, A., Buranasiri, B., … & Piboonrungroj, P. (2017). A Supply Chain Analysis of Incentive Travels: A Case of Thailand. Int. J Sup. Chain. 6(1), 155.
Wongtada, N., & Krairit, D. (2017). Survival of a market leader in a regional integration of emerging economies: A case study of the tourism industry in Thailand. Journal of the International Academy for Case Studies, 23(1).
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