The rapid expansion of China’s MICE market is drawing international companies to target the growing industry. According to a recent report, the value of China’s conference and events industry was estimated at USD150 billion. The Chinese MICE industry itself is growing at an astonishing 20% annually, providing new opportunities for both international and domestic MICE suppliers. For many MICE industry suppliers, China’s relentless growth has lead to inevitable shifts in customer profiles, where China is amongst their top buying markets in certain regions.
China luxury cruise exhibitor, Silversea Cruise’s Asia Regional Director, Melvyn Yap notes, “China is now our second largest Asian source market, behind Japan. We believe it has the potential to grow even bigger, especially with the Chinese interest in our expedition product to the polar regions.”
Thailand is among those experiencing the huge impact of the outbound Chinese MICE business. The President of Thailands Convention & Exhibition Bureau (TCEB) said, “China has become the number one (top) source market of MICE travellers to Thailand since 2013, and with a constant growth of the Chinese economy; we expect to welcome more business travellers and MICE visitors from China.”
Other returning exhibitors to IT&CM China 2014 cite strong business generation results as a reason for coming back to the show. Dorinda Chua, Assistant Vice President – Global Sales of Dusit International, says, “We are expecting revenues in excess of USD 500,000 from the direct discussions that took place at the 2013 event.” Meanwhile, Charles Lai, Vice President – Sales & Marketing of international hospitality chain Kempinski Hotels, China, estimates that actual business generated from their 2013 participation aggregates about USD 850,000.
Acording to representaives from IT&CM, “2014 exhibitors can expect to see 70% Chinese buyers, addressing the outbound and domestic procurement for both International and Chinese suppliers respectively. The latter can also benefit from the remaining 30% of international buyers looking to buy into China (inbound).” Similarly, Chen Yueliang, Vice-President of China International Travel Service (CITS) Limited – co-organiser of IT&CM China, agrees, “China’s business events market is growing faster than any other nation. It is predicted that China will be the world’s largest contributor to this industry. With domestic and international demand driving surges in group meetings and events travel, both Chinese industry suppliers and buyers alike will find IT&CM China an ideal platform to expand their business networks. CITS is excited about playing a significant role in delivering these delegates to the event.”
The 2014 IT&CM China event is set to welcome approximately 3,000 MICE professionals from sectors including DMCs, PCOs, corporate travel and associations. The show will also feature 400 hosted delegates, over 10,000 business appointments set to be conducted, and more than 60 business, education and networking sessions planned for delegates. Organisers are expecting 67% new buyers with a targeted ratio of 1.25 buyers to 1 exhibiting company.
IT&CM China 2014 will be held from April 15 to 17 at Shanghai World Expo Exhibition & Convention Center. This is the 8th instalment of the international MICE event that seeks to “Promote China to the World and the World to China”. This year’s event will see an attendance of 3,000 MICE professionals from sectors including DMCs, PCOs, corporate travel and associations, some 400 hosted delegates, over 10,000 business appointments as well as over 60 business, education and networking sessions.
About the Organizers
The event is organised by TTG Events, a business group of TTG Asia Media, CITS International M.I.C.E – a wholly-owned subsidiary of CITS (China International Travel Service) and MP International. It has the support of the Shanghai Municipal Tourism Administration (SMTA), Shanghai Convention & Exhibition Industries Association (SCEIA), Australasian Society of Association Executives (AuSAE) and Canadian Society of Association Executives (CSAE), International Association of Professional Congress Organisers (IAPCO), International Congress & Convention Association (ICCA), Outbound Tour Operators Association of India (OTOAI), Pacific Asia Travel Association (PATA) and Society of Incentive Travel Executives (Site) China chapter.
More information is available at www.itcmchina.com