In the heart of Southeast Asia, Thailand is rapidly emerging as a powerhouse in the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry. As global business dynamics evolve, Thailand is not just adapting but setting new standards in the MICE landscape.
by Roland Kümin* || 3 July 2024
The Queen Sirikit National Convention Centre, Bangkok: For European businesses looking to explore new markets and opportunities, Thailand offers a compelling proposition.
The Surge of MICE in Thailand
With strategic initiatives and robust infrastructure, Thailand is poised to attract millions of MICE travelers, generating substantial economic benefits.
According to the Thailand Convention and Exhibition Bureau (TCEB), the MICE industry in Thailand is on a significant growth trajectory. By the end of 2024, Thailand aims to attract 23.2 million MICE travelers, generating 140 billion baht in revenue (approx. 3.8 billion US$). This impressive figure includes 960,000 international visitors contributing 63 billion baht and 22.2 million domestic MICE travelers generating 77 billion baht (TCEB Thailand).
Strategic Initiatives Driving Growth
Thailand's MICE strategy focuses on innovation, sustainability and leveraging.
The cornerstone of Thailand's MICE industry growth is the TCEB Go Strategy.The ambitious plan targets 160 million MICE travelers by 2027, aiming to generate over 945 billion baht in revenue (approx. 25.8 billion US$). The strategy focuses on innovation, sustainability and leveraging Thailand's unique cultural capital to enhance the MICE experience. This includes integrating Thai identities through creativity and co-creating with various stakeholders to provide unique and enriching experiences. Source: (TravelDailyNews Asia & Pacific).
Key Sectors and Departments
Thailand's MICE industry is segmented into several key sectors:
Mega Events and Festivals: Utilizing social, cultural, and economic assets, this sector aims to create unique, value-added experiences that contribute significantly to the economy.
International Exhibitions: In 2022, Thailand ranked No. 1 in ASEAN and No. 4 in Asia in exhibition spaces. This sector has been a key revenue driver, attracting numerous international visitors and hosting more than 25 new shows annually (TTR Weekly).
Domestic MICE Market: Accounting for 95% of total MICE travelers in 2023, the domestic market generates substantial revenue and mitigates external risks (Thailand PRD).
Innovative Solutions and Competitiveness
TCEB is enhancing global competitiveness through digital innovation and initiatives like the MICE Intelligence Centre and Thailand MICE One Stop Service. These efforts streamline operations and improve the overall MICE experience, making Thailand a more attractive destination for international events.
Expert Insights
Suranart (Goff) Phiphadkusolkul (picture), Senior Manager at Thailand Convention & Exhibition Bureau, emphasizes the strategic vision behind these initiatives.
«Our goal is to transform Thailand into a high-value-added destination for MICE activities. By integrating our rich cultural heritage with cutting-edge innovation, we are creating unparalleled experiences that resonate with both domestic and international audiences. This holistic approach not only drives economic growth but also positions Thailand as the springboard for Asia's growth in the MICE sector», he says.
Conclusion
Thailand's commitment to establishing itself as a leading destination for global business events is evident through its strategic initiatives, robust infrastructure, and innovative approaches.
By leveraging its unique cultural capital and focusing on sustainability and digital innovation, Thailand is set to attract and retain a significant number of MICE travelers, thereby boosting its economy and reinforcing its position as a premier MICE destination in Southeast Asia.
For European businesses looking to explore new markets and opportunities, Thailand offers a compelling proposition. With its strategic location, dynamic economy, and vibrant MICE industry, Thailand is not just a destination but a gateway to growth and success in Asia.
TAKE OUTS: Events to Watch
ProPak Asia 2025 (June 11 - 14, 2025): A premier trade event focusing on showcasing advanced automation and technology in food, drink, and pharmaceutical processing and packaging.
Cosmoprof CBE ASEAN 2025 (June 25 - 27, 2025): Expanding its reach to Southeast Asia, this event offers new projects and business opportunities within the beauty industry.
Manufacturing Expo 2025 (June 18 - 21, 2025): The foremost machinery and technology event in ASEAN, catering to manufacturing and supporting industries.
GFT 2024 (July 23 - 26, 2025): A sourcing platform providing a wide range of manufacturing technology and services for the garment and fashion industry.
*Author Roland Kümin is a tech influencer, digital shaper and sales advisor in Zurich, Switzerland. He is an expert on the Asian, Vietnam and the global MICE economy. He lives in the Greater Zurich Area, Switzerland and Da Nang, Vietnam.
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