The meetings industry in Russia has experiencing a steady growth with the leading MICE specialists recording International business in excess of €.70 million, this amout did not include domestic events, business travel or official conferences.
Destinations that supply Russia growing market are , Turkey, Italy, Spain, USA, Brazil, Cuba, China, Thailand while Egypt has suffers a slight downturn, possibly due to local events. One of the greatest challenges for Russian specialists is to find suppliers and destinations able to cater for corporate meetings fro 400-800 delegates. Their main requirements being simple visas, easily accessible, warm climate and good business/resort infrastructure.
The average event planning laed time for Russian operators tends to be 4-6 months from the request to materialisation and the most effective time for promotion is in March. The Moscow International MICE Forum in March can be an event to meet with leading Russian MICE specialists.
Unlike other countries around the world, the prognosis for the Russian economy is strong, with Morgan Stanley predicting GDP growth of 4.6%. Employment is up and industrial production is increasing, as are retail sales. With these encouraging forecasts, an increasing number of Russian companies are looking to reward their employees and clients with Incentive travel.
With a growing competitive edge for Russian products and services, there is a growing demand for participation at conferences and exhibitions around the world. This combination presents an excellent opportunity for International MICE suppliers to take part in this increased demand.