Thailand MICE Posts Gains

Thailand MICE continues to record a strong 13% growth in MICE travellers during the first half of the fiscal year 2018, according to the latest report from Thailand Convention and Exhibition Bureau (TCEB).

Release time : 2018-06-27 10:06:30

source : PR Newswire

Thailand MICE posts 13% growth with signals of strong market confidence

BANGKOK, June 25, 2018 /PRNewswire/ -- Thailand MICE continues to record a strong 13% growth in MICE travellers during the first half of the fiscal year 2018, according to the latest report from Thailand Convention and Exhibition Bureau (TCEB).

Reporting details of the half-year performance, TCEB President, Chiruit Isarangkun Na Ayuthaya, said that Thailand'sMICE revenue reached THB 42.854 billion in the first half of the fiscal year, representing a 5% increase. It underpinned the quality and strength of Thailand's MICE industry as it remains on target to achieve a record year-end performance.

TCEB forecasts the fiscal year ending September 30, 2018 will close with an estimated 1.37 million MICE travellers earning THB 12.400 billion in revenue.

During the fiscal half year, October 1, 2017 to March 31, 2018, Thailand welcomed 547,623 MICE travellers representing a robust 13.14% growth year-on-year. Revenue from the MICE industry reached THB 42.854 billion, an increase of 5.73%.

"The scorecard signifies that MICE travellers have confidence in Thailand and its potential as a preferred destination for MICE activities. The growth of MICE travellers and revenue from MICE exceeded our earlier estimates," TCEB President explained.

Of all the MICE segments, the meetings and incentives sector consistently delivers the highest growth rate. That continues to be the trend during the first half of this fiscal year as Thailand welcomed 150,849 business travellers in the meetings sector earning revenue of THB 14.574 billion followed by incentive travellers with 176,005 visits and earning revenue of THB 10.282 billion. There were 147,877 convention delegates generating revenue of THB 12.093 billion and 72,892 exhibition travellers contributing THB 5.613 billion.

MICE Performance in the first half of the fiscal year 2018

Key factors which are driving growth are the variety of