Of MICE and myths

Japan has made the highly lucrative MICE business one of the key pillars of its integrated resort policy, though it’s unlikely to knock Singapore off its perch as the regional leader any time soon, even with its shiny new properties. The global meetings, incentives, conferencing and exhibitions (MICE) market may in its broadest interpretation be approaching the trillion dollar mark, according to Allied Market Research. The level will be breached in the next 6 to 12 months based on its CAGR forecast. It’s a mind boggling figure by any measure and likely aggregates the full gamut of the supply chain from upstream ancillary services and supplies, all the way down to every single cent spent by a consumer identified as a MICE customer. The global travel industry hails MICE as its new darling, and national tourism bureaus are scrambling to gain a slice of its lucrative revenue stream. Moving to IRs In the last decade,...

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