With over THB 50 Billion of Q2 2019 revenue, now Thailand is moving to sweep THB 220 Billion of revenue with TCEB’s leadership
Bangkok, Thailand – Thailand’s MICE has soared to Asia’s no. 4 for international conventions with the number of meetings that reached 193. In Quarter 2, Thai MICE has continually grown in terms of volume and revenue. The number of domestic and foreign MICE travellers totalling 8 million has contributed to the rise of total revenue by 6.27% or THB 50 billon in value. The stability well reflects popularity and confidence In Thailand as the region’s leading MICE destination. TCEB is moving on to implement main strategy to penetrate into the ASEAN+6, CLMV and European markets with the revenue goal of THB 220 billion 2019.
Chiruit Isarangkun Na Ayuthaya, President of Thailand Convention & Exhibition Bureau (Public Organization) or TCEB, disclosed about the 2018 report of International Congress and Convention Association – ICCA that Thai MICE has moved up to no. 4 of Asia for international conventions with 193 events, ranking just behind Japan, China and Korea, but soaring as no. 1 among ASEAN countries. The movement obviously reflects an advancement from 2017 as Thailand was ranked no. 5 of Asia with the number of international conventions of 171.
In addition, the 2018 report of International Congress and Convention Association indicated that Bangkok ranked no. 2 (with 135 events), Chiang Mai no. 25 (25 events) and Pattaya no. 60 (11 events) of Asia for international conventions on provincial scale.
International MICE markets registered 353,256 MICE travellers, which generated 26,703 million baht of revenue. Meetings market marked the highest number of MICE travellers. Domestic MICE market registered MICE travellers of 7,752,864, generating 28,069 million baht of revenue. Majority of them represented international Exhibitions category.
Considering foreign MICE markets, TCEB found that corporate meeting business has marked the highest growth, in terms of number and revenue. The number of travellers rose by 11%, contributing to the revenue growth of 7%. The top 5 international MICE travellers that entered into Thailand are China (122,426); India (40,492); Japan (30,038); Hong Kong (26,021); and Indonesia (21,202).
Domestic MICE market has marked the highest growth in Incentives market, both in number and revenue. Traveller growth totalled 18%, whereas the revenue growth registered 180%. Top 5 MICE cities include Bangkok, Chiang Mai, Khon Kaen, Phuket and Pattaya, respectively.
Chiruit said: “The overall picture of Thai MICE market in Quarter 2 indicated that Thailand has maintained our status as a significant MICE destination and has continued to gain trust to hold major events amidst the fluctuation and fierce competition. Triumphantly, we can say that the success is from strong collaborations of involving parties from public and private sectors, who have dedicated to boost the growth of national MICE and enable it to prosper with stability.”
According to a research conducted by Frost & Sullivan (Thailand) Co. Ltd., the study found that economic impacts of MICE industry in the Fiscal Year 2018 may incur expenditures of 251,400 million baht, which will contribute to gross domestic product (GDP) by 177,200 million, or 1.2% equivalent of Thailand’s GDP.
Chiruit further said about the direction to drive Thai MICE in the latter half of 2019 that TCEB will continue to operate in line with the government’s policy accentuating 3 strategic goals, including the generation of revenue, the distribution of revenue to the region and the development of MICE through innovations. Altogether, TCEB has prepared to launch a stronger strategic plan to heighten Thailand’s MICE industry with regard to escalate the country’s competitiveness through integrated operations with other parties involved in Thailand’s MICE industry whose goals are similar with ours.
In implementing the strategy on revenue generation and economic development, TCEB focuses on penetration into ASEAN+6 and CLMV markets, while also maintaining Europe as key long-haul markets. Promotional marketing activities will include TIME (Thailand Incentive and Meeting Exchange 2019), during 11-15 June; ASEAN MAXIMICE, marketing package in collaboration with Thai Airways (MI market); ASEAN Plus 6 Visitor Privilege Campaign, marketing package for Exhibition market; IT&CMA &CTW 2019, trade show in Bangkok, during 24-26 September; Fly & Meet Bonus, joint marketing package with Bangkok Airways (CLMV – MI market); CLMV Media Fam Trip (Bangkok-Pattaya), during 10-14 June; London Roadshow 2019 in UK, during 15-16 May; and IMEX Frankfurt 2019, trade show in Germany, during 21-23 May.
In the distribution of revenue and growth, TCEB will concentrate in the development of networks and promotion of regional MICE. The 5 key campaigns are MICE database project for Central, Northeastern and Southern regions (operating zones include 20 provinces in 3 regions); City Profile, provincial research and strategic database project for 3 potential provinces (Kanchanaburi, Ubon Ratchathani, Nakhon Si Thammarat); Thailand 7 MICE Magnificent Themes was designed to multiply results and connect 9 MICE Cities (Samut Sakhon, Samut Songkhram, Chiang Rai, Udon Thani, Songkhla, Nakhon Si Thammarat, Rayong, Chachoengsao, Chonburi); MICE for community project (Year 2) will continue to support 50 cooperatives nationwide; and Project for the development of domestic MICE personnel (National Course).
In the advancement of MICE through innovations, TCEB will empower event development based on innovations through 4 major projects, which are 1. MICE Intelligence & Resource Center, featuring the creation of MICE database for innovation and dissemination via website; 2. BizConnect and BizConnect Organizer, featuring the production mobile app for visitors and exhibitors; 3. Thailand MICE Innovation Challenge 2019, featuring the innovative idea competition for MICE industry, and 4. Project for the development and promotion of businesses in Thailand’s creative economy for global competition in collaboration with the Creative Economy Agency (CEA).
Additionally, there are distinctive MICE events in the latter half of 2019 (April to September 2019), which can expect up to hundreds of thousands of visitors, including Lanna Expo 2019 in Chiang Mai (400,000 visitors expected), Thailand Toy Expo 2019 (190,000 visitors), Bangkok Entertainment Fest 2019 (100,000 visitors) and the lifestyle trade show, TTC Fair Khon Kaen (100,000 visitors).
In 2019, TCEB has determined that Thailand will be welcoming 35,982,000 MICE travellers, which can generate up to 221,500 million baht of revenue to Thailand. The estimated number is divided into 1,320,000 foreign MICE travellers which will generate approximately 100,500 million baht of revenue, and 34,662,000 domestic MICE travellers that can generate an approximate revenue of 121,000 million baht.