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24 Oct, 2014

Summit identifies five trends that will shape the Asian MICE sector

BANGKOK, Oct. 23, 2014, /PRNewsire/ — Panellists and delegates attending the 7th Asia for Asia Summit on 30 September 2014 in Bangkok agreed in consensus on five key trends identified as crucial to success in the business events arena in Asia, ranging from ever-increasing demands on business results and sustainability to transformational technology and strategic partnerships.

Organised by the Asian Association of Convention and Visitor Bureaus (AACVB) in collaboration with the Thailand Convention and Exhibition Bureau (TCEB), the 7th Asia for Asia Summit was held in conjunction with the annual ITCMA&CTW 2014 industry tradeshow in Bangkok.

The 7th Asia for Asia Summit was organised with the main objective of providing a platform for new generation MICE practitioners to discuss business events trends, which have been widely acknowledged by world leading business events associations, whether the trends suit well with Asian demand and to identify the real trend of Asian business events industry. The summit addressed issues, such as; whether the future trend applicable with Asian customers and Asian needs; the real factors that influence young managements’ decision in organising an event; and what MICE professional should offer to attract clients from Asia.

Mr Nopparat Maythaveekulchai, president of TCEB, said that, “TCEB has a strong and collaborative relationship with AACVB and Thailand has been an enthusiastic contributor since its founding more than 30 years ago. We were association president for four consecutive years from 2008-2011, and initiated projects – such as this Asia for Asia Forum — designed to be beneficial to the advancement of the regional business events industry.

“I am delighted that our relationship took another step in January this year with the relocation of AACVB headquarters to Bangkok. We would like to express our gratitude towards AACVB for its recognition of Thailand’s unique qualities as a business events hub for Asia — as an ideal marketplace with a diversity of destinations, unrivalled business opportunities, and high quality professionals and industry standards.”

During the 7th Asia for Asia Summit, a panel of business events leaders: GainingEdge’s Senior Associate Asia, Ms. Jane Vong Holmes, micenet ASIA’s Managing Director, Mr. El Kwang, and Sampran Riverside Resort’s Managing Director, Mr. Arrut  Navaraj, discussed the five key trends with active participation of delegates who voted in agreement on all topics.

The 5 Key Trends

Summit delegates agreed that virtual events and seamless connectivity open new horizons, with 84 per cent stating that organisers and host destinations can harness the power of virtual meetings and social media without losing valuable MICE venue that in-person events generate.

When it comes to key characteristics for destinations to highlight, 68 per cent of summit delegates agreed on the ‘out of the box’ venues offering unforgettable experiences that host destinations should highlight business/commercial  — as opposed to cultural — assets when communicating about their market offerings, while 32 per cent disagreed.

Summit delegates agreed that strategic partnerships take centre stage with the advantages, with 75 per cent stating that all host destinations should select another destination as a strategic partner to attract MICE investment and boost MICE sector activity.

Forum delegates agreed on the challenges of the current environment that tightening budgets demand real business benefits from MICE events.  With 72 per cent stating that it is getting more and more difficult to get MICE budget sign-off from senior executives, and that more justification is now needed about the impact and benefits of a business event.

On the trend of 360 degree sustainability, the views of forum delegates were mixed. With 63 per cent stating that sustainability is becoming a priority when planning a business event, and that delegates themselves are willing to absorb extra costs incurred to make an event sustainable, while 37 per cent disagreed with the premise.

For more details on the 7th Asia for Asia: Rock the Generation held on 30 September 2014 in Bangkok, Thailand, please see enclosed official communiqué or visit www.aacvb.org.