MICE – Trends and its Immediate Future

Industry predictions indicate that the MICE (Meetings, Incentives, Conferences and Exhibitions) sector is poised for vigorous growth. Recuperating after the recession, it is springing back, stronger than ever. The demand for meetings is on the rise and though companies are not splurging, luxury venues are not being ruled out either.

In general, there are some emerging trends which have been observed. Let us take a look at the top ten trends in the MICE industry, which have been released by the Benchmark Hospitality International, a leading American company operating around 35 renowned hotels, resorts and conference centres.

Top Future Trends

Return to luxury — Budget constraints have not vanished and purse strings are far from being completely loosened. However, luxury resorts are not out of bounds either.

Meeting demand is at its peak since 2008 — There is growing demand across all sectors, telecommunications, education and insurance, healthcare, energy and many more.

Meeting size is growing — The growing demand for meetings has resulted in hotels giving preference to larger meetings capable of paying more. Hotels are not as flexible as before when it comes to walk-in bookings and last minute bookings are not possible anymore. Good venues have to be booked well in advance.

Meeting space is changing — The traditional ‘boardroom-style’ space is being replaced by an innovative approach where huge outdoor meeting spaces, smaller cosy nooks for limited gatherings and different kinds of seating are being requested. The focus is on creating conducive settings and it is no more a surprising sight to see delegates assembled around a campfire or at a bar.

New age technology — Meetings and events are getting more tech-savvy than ever before. Apps downloaded on smart phones and iPads, easily accessible mobile sites and meeting-dedicated Facebook pages are assisting planners with the registration process, informing them of programmes and offering an easier method to gather feedback from participants after the events. Note taking through iPads, LCD projectors and the latest audio-visual technological tools – events have been totally transformed by technology.

The Meeting Package is back — The last couple of years saw a decline in the meeting package but it has made a strong comeback again this year. Planners are once again embracing the product for the value it offers the meeting budget. Planners are requesting for customised packages rather than unbundling.

Prices are increasing slowly — The improvement in economy is resulting in slowly increasing prices of meetings. Though value for money is still an important factor, the planners are yielding to prices being a little higher than before.

Teambuilding activities are making a comeback — Venues, which are offering creative options for teambuilding activities are in demand. For instance venues with options for holding cookery classes, beach-volleyball or golf lessons are attracting more meeting planners.

Facing cut throat competition — The improvement in the economy brings with it fierce competition and no company can afford to lag behind in the race for supremacy. Training budgets are being revamped to ensure best-trained sales and management personnel for survival in the competitive global economy.

Growing importance of the destination — The meeting destinations have gained new importance. Planners are looking for value for money and an exotic destination is not necessarily what they are looking at. Destinations which offer great value and a relaxed atmosphere are being preferred. Along with facilities for meetings, destinations which offer recreational opportunities and learning in relaxed settings are becoming popular.

Future of the Mice Industry

The prospects for the MICE industry are looking very bright. Indeed the changing trends are clearly indicating that this sector is making a steady comeback as the world economy has started picking up. With the economy improving, there is once again a renewed demand for exhibitions, meetings and events to showcase latest products or for brainstorming sessions or simply for attracting clients. Countries are promoting themselves as MICE venues to attract event organizers. Travel companies are offering specialised MICE services and activities.

Major Themes of the Future

A recent survey by Fast Future Research has shown that the industry has to strategize and reinvent itself to face new challenges. The future of the industry will be influenced by the following major factors:

  • Economic uncertainty,
  • Better, cheaper technological options for live events,
  • Faster, shorter business cycles,
  • Political/economic influence of Asia

Major Challenges in the Coming Future

In order to survive and continue to be “a critical engine of economic development”, the industry will have to tackle ten challenges:

  1. Evolving a distinct identity of its own — The industry must create its own persona distinct from travel and tourism.
  2. Establishing universal economic impact models — The industry has to offer good value for money; stakeholders need proof of economic benefits.
  3. Proving relevance and value — Show that meetings are not the (economic) problem, but are a vital part of the solution.
  4. Thinking and acting strategically — Assess the needs, anticipate coming challenges, and face them with appropriate measures.
  5. Nurturing agility and flexibility — Venues need to be open-minded about their meeting spaces and public spaces.
  6. Personalizing and deepening the learning experience — Keep in mind adult-learning principles, and engage with the audience year-round.
  7. Experimenting with business models and revenue streams — Think of events as launch pads for continual revenue generation.
  8. Adopting value-chain thinking — Foster collaboration among all stakeholders, suppliers, and planners.
  9. Acquiring, retaining and developing talent, and embracing diversity — Meetings industry careers must be seen as stimulating and rewarding to attract the next generation.
  10. Developing tomorrow’s leaders and managers — Leaders in the next decade will be successful through innovation and experimentation.

Marching Ahead

The MICE industry, after the global economic recovery, is set to move ahead rapidly. Meetings, exhibitions, events are essentially networking tools and will always be the cornerstone of successful businesses. What is needed here is to recognize the changing way in which the world is conducting business; the changing trends which are influencing global economies; the technological revolution which is making its presence felt in the way in which events and meetings are being conducted. Assimilating these changes seamlessly and responding to it with strategic initiatives will only make the MICE industry stronger than before.

Enter your email address:

Delivered by FeedBurner


26 Comments For This Post

  1. forestville location Says:

    I’m impressed, I have to admit. Seldom do I come across a blog that’s both educative and engaging, and without a doubt, you’ve hit the nail on the head. The problem is something too few folks are speaking intelligently about. I’m very
    happy that I stumbled across this during my hunt for something regarding

  2. kingsford Hillview peak Says:

    This web site truly has all of the information I wanted concerning
    this subject and didn’t know who to ask.


    Congratulations for this outstanding survey of actual trends in MICE-industry !

  4. visit the up coming website Says:

    My relatives always say that I am wasting my time here at web, but
    I know I am getting know-how everyday by reading thes fastidious

  5. forestville woodlands Says:

    Howdy! I simply would like to offer you a huge thumbs up
    for your excellent info you’ve got right here on this post. I am returning to your web site for more soon.

  6. Visit Website Says:

    Hey I know this is off topic but I was wondring if yoou knew
    of any widgets I could add to my log that automatically tweet my newest twitter updates.
    I’ve been looking for a plug-in like this for quite some time
    and was hoping maybe you would have some experience
    with something like this. Please let me know if you run into
    anything. I truly enjoy reading your blog and I look forward to your
    new updates.

  7. William Says:

    I would really love to make a blog but.. I’m not sure what type of blogs get the most traffic? What kind of blogs do you surf? I mostly surf photo blogs and fashion blogs. Just getting a poll here thanks!.

  8. uberstrike hack no download no survey Says:

    If some one wants to be updated with hottest technologies after that he must be pay a visit this web site and be up to date
    every day.

  9. Leonor Says:

    Hello! Quick question that’s totally off topic. Do you know how to make your site
    mobile friendly? My website looks weird when viewing from my iphone4.
    I’m trying to find a theme or plugin that might be able to correct this issue.
    If you have any suggestions, please share. Appreciate it!

  10. payday loans Says:

    Heya terrific blog! Does running a blog like this take a large amount
    of work? I’ve absolutely no knowledge of programming
    but I was hoping to start my own blog soon. Anyway, should you have any
    ideas or tips for new blog owners please share.
    I understand this is off topic however I just needed to ask.

  11. Cleveland Says:

    Excellent post. Keep writing such kind of information on your page.
    Im really impressed by it.
    Hey there, You’ve done a great job. I’ll definitely digg it
    and personally recommend to my friends. I’m sure they will be
    benefited from this web site.

  12. Chassidy Says:

    ve been searching all around and the truth was in my eyes the whole
    time. This is strictly pretty complex to purchase a really finished assortment of special secrets
    pertaining to GTA, regrettably a large numbers of web-sites they’ll take advantage of a carry released report nevertheless as you manifested on their own inside your Search
    engine final results aided by the guaranteeing showing everyone undergo any unhealthy let-down. Yet there are millions of women, who
    for various reasons, have chosen to stay with a cheating mate.

  13. Restaurant Story cheats Says:

    Hola! I’ve been following your web site for a while now and finally got the bravery to go ahead and give you a shout out from Dallas Tx!
    Just wanted to tell you keep up the fantastic job!

  14. Casey Says:

    Generally I do not read article on blogs, but
    I would like to say that this write-up very compelled me
    to take a look at and do it! Your writing style has been surprised me.
    Thank you, very nice article.

  15. how to get rid of cellulte Says:

    Howdy very nice site!! Guy .. Excellent .. Amazing ..
    I will bookmark your site and take the feeds additionally?

    I am satisfied to seek out so many useful information here within the submit,
    we’d like develop more techniques on this regard, thanks for sharing.
    . . . . .

  16. Probiotic Supplements Says:

    Awesome article.

  17. magazines Says:

    First of all I want to say superb blog! I had a quick question which I’d like to ask if you don’t mind.
    I was curious to find out how you center yourself and clear your thoughts prior to writing.
    I have had a hard time clearing my thoughts in getting my ideas out.
    I do enjoy writing however it just seems like the
    first 10 to 15 minutes are lost just trying to figure out how to begin. Any recommendations or hints?
    Appreciate it!

  18. Mauricio Says:

    Thanks , I’ve recently been looking for information about this subject for a long time
    and yours is the greatest I have came upon till now.

    However, what in regards to the bottom line? Are you
    certain concerning the supply?

  19. Micromon Hack Tool Download Says:

    Thanks to my father who informed me about this web site, this webpage is in fact

  20. Caroline Says:

    Just wish to say your article is as amazing. The clearness in your
    post is just spectacular and i could assume you’re an expert
    on this subject. Fine with your permission allow me to grab your feed
    to keep up to date with forthcoming post. Thanks a million and please carry on the gratifying work.

  21. Eddie Says:

    great points altogether, you simply received a new reader.
    What would you suggest in regards to your submit that you made a feew days ago?
    Any positive?

  22. http://mckenz8851.wordpress.com/ Says:

    Finally, we look at the ipad fourth element.
    Clean mode I mean that when addition is used it will take and what
    will it return, what type? That is also an sp3 hybridized carbon on a flat sheet of paper here?

  23. knights and dragons gem Hack Says:

    Excellent beat ! I wish to apprentice while you amend your website, how
    could i subscribe for a blog web site? The account aided me a acceptable deal.
    I had been tiny bit acquainted of this your broadcast provided
    bright clear idea

  24. chojnow Says:

    You really make it seem so easy with your presentation but I find
    this matter to be really something which I think I would never understand.
    It seems too complicated and very broad for me. I am looking
    forward for your next post, I will try to get the hang
    of it!

  25. pas cher nike sb dunk Says:

    I am no longer certain where you are getting your information, but great
    topic. I needs to spend a while learning much
    more or figuring out more. Thank you for great info I used to be searching for this information for my mission.

  26. bankruptcy case Says:

    I know this web site gives quality dependent posts and other material, is there any other
    website which gives these kinds of stuff in quality?

Leave a Reply

Our Partners