BANGKOK, 1 November 2023: Thailand Convention & Exhibition Bureau has assigned three departments concentrating on Mega Events and Festivals, International Exhibitions and Domestic MICE* Markets to drive expansion to meet 2024 targets.
Describing the departmental deployment, TCEB president Chiruit Isarangkun Na Ayuthaya said the plan forecasts Thai MICE travellers will total 23.2 million, generating THB140 billion in revenue by the end of 2024.
According to its in-house research results, TCEB’s performances over the last 21 years since it was established have been “successful”. It credits itself with having won 442 international bids for world events and having supported more than 6,300 local MICE events. Its internal office assessments suggest the performances generated not less than THB63,000 million for the Thai economy.
In the research, TCEB claims 650 MICE entrepreneurs worldwide have selected Thailand as a top-of-mind destination compared to 14 other Asian countries, followed by Japan and Singapore.
TCEB’s 2024 operations and marketing plans assign key initiatives to three specific departments covering mega events and festivals, international exhibitions and the domestic MICE market.
Mega Events and Festivals: TCEB has supported over 100 festivals, generating over 50,000 million in circulation for the Thai economy. The future directions of this department will grow social, cultural and economic capital or Soft Power as a creator of 360-degree value. The focus will be on building a network through one-on-one meeting roadshows.
International Exhibitions: There have been no less than 25 new shows this year, and the department concentrating on this sector has driven growth and competitive advantage by producing a tool that will help penetrate and expand business opportunities sustainably.
According to the report of the Global Association of the Exhibition Industry or UFI, Thailand was in 2022 ranked No.1 in ASEAN and No.4 in Asia in terms of exhibition spaces. In 2023, the exhibition sector has been a key factor in increasing revenue and the number of foreign MICE travellers entering Thailand. The visitor tally in both categories has surpassed the target by 68% or equivalent to the revenue of 2019, which was the year with a record high of revenue before the Covid-19 outbreak.
Domestic MICE Market: In 2023, domestic MICE travellers accounted for 16.5 million, generating an estimated THB50,000 million in revenue. The domestic market serves as a crucial foundation in strengthening Thailand’s MICE industry, helps to curb risks from uncontrollable external factors and promotes the domestic economy.
A dedicated TCEB department is leading a drive to improve destination readiness. This approach will feature all 10 designated MICE Cities through a connecting campaign.
By the end of the fiscal year 2024, Thailand should welcome 23.2 million MICE travellers, generating THB140 billion in revenue. This comprises 960,000 overseas travellers, creating THB63 billion baht in revenue, and 22.2 million domestic MICE travellers, generating THB73 billion in revenue.
* MICE: Probably the most ridiculous acronym created by humourless travel gurus. It refers to Meetings, Incentives, Conferences and Exhibitions. Unfortunately, it makes us think of rodents.
