What is MICE ?Recently, there has been an industry-driven initiative to not use the “MICE Market” label & instead say “The Meetings Industry” which encompasses Meetings, Incentives & Conferences. The MICE and Event Industry generally comprehends the development of a well-planned agenda by the coordinators of the event focused on a specific topic, subject or purpose.
- Exhibition Travel: at an exhibition, products or services are displayed, and they might be the primary focus of the events. Other conferences & events might also have an exhibition as one of the components. Business court new clients & debut their latest offering at these events.
- Events: It is the process of using business management & organizational skills to envision, plan & execute social & business events. People who specialize in event management, most noteworthy they work with budgets, schedules, & vendors to create the best possible events for their clients.
- Business Events: it is another definition for MICE & has been used primarily in Australia to cover a wide array of meanings for this industry.
Key Points about to MICE and Event Industry
(1) The MICE and Event Industry consists of a wide range of
- Facilities engaged
(2) The MICE and Event Industry is a distinct economic sector with its own
- unique organizations
- communications vehicles.
(3) It is comprised largely of
(4) The industry necessarily interacts with many other sectors in the process of carrying out its activities. It works closely with
- the business
- academic and
- professional communities.
- The activities of the MICE industry are an increasingly significant element in the future growth of the global economy, an essential part of the spread of knowledge & professional practices & key factor in building better understanding & relations amongst different regions & cultures.
- The industry recognises that to be sustainable into the future it must achieve a greater level of recognition for the benefits. Furthermore it delivers in relation to global economic & professional development, specifically-
- Providing a stimulus to global economic growth by creating forums for new product development, exchange, & marketing,
- Facilitating academic, technical & professional advancement by encouraging the global development & exchange of research, knowledge, standards, & procedures.
- Supporting communities by facilitating access to global knowledge & expertise & attracting new investment potential.
- Enhancing & supporting transportation, hospitality, tourism infrastructure by creating an economically important rationale for non-leisure travel.
- Promoting international cooperation & collaboration by encouraging & sustaining business & professional networks. It supports economic transition by facilitating retraining & professional development on a global basis.
- It also acknowledges & promotes the essential importance of face to face interactions in developing &maintaining personal & organizational relations as well as efficiencies achieved by addressing business & professional outcomes through group activities such as conventions & exhibitions rather than the individual travel.
- The primary value of the MICE industry is to generate outcomes for organizers & participants from meetings associated activities. These benefits also transfer to communities & governments in the form of significant advancements in social & economic progress.
- The international meetings market divides into segments by the size of the meetings, by the kind of the people visit the meetings, by the purpose of the meetings & many more criteria.
Key Contributors in MICE Industry
- Convention & Visitors Promotion Bureaus
- Professional Conference Organizers
- Incentives Houses
- Destination Management Companies
- Exhibition Organizers