Positive outlook seen for the MICE industry

 Friday, August 4, 2023 


There is positive momentum across the MICE industry despite challenges like rising costs and staffing shortages, says a new report from an industry-leading meetings, events and hospitality technology provider.

The bi-annual report emphasises the opportunity for hoteliers to capitalise on the growing demand for in-person experiences.

The report aims to help hospitality professionals better attract corporate events and engage planners by providing insights into key trends that impact how event organisers source and select hotels/venues and manage their events.

The regional editions, based on responses from hundreds of event planners across various sectors, were published for Asia, Australia and the Middle East & Africa regions.

According to the survey results, a large percentage of planners in Asia (80%), Middle East and Africa (85%), and Australia (76%) anticipate paying more for similar-sized and complex meetings in 2023 than in 2022.

As a result, the majority of planners also expect an increase in their event budgets with 90% in Asia, 88% in Australia, 79% in the Middle East and Africa, respectively.

This presents an ideal opportunity for hotels and venues to differentiate themselves by providing premium services and amenities that justify the higher costs.

While planners are willing to spend more, hoteliers should also focus on tailoring their offerings to meet the planners’ expectations and requirements, which would ultimately lead to increased revenue.

With the rise of digitisation, event planners are increasingly turning to digital resources to aid in their planning process.

For example, more than one third of planners across all regions say online sourcing platforms have become an essential resource for site selection.

In addition, with rising travel costs, in-person site visits are being replaced with digital online tours.

Report results show that 54% of planners in Asia, 53% in Australia, and 43% in the Middle East & Africa utilize digital floor plans and online event diagrams to better understand meeting room capabilities and to determine whether the hotel is the right fit for their event.

These results illustrate the growing importance of a hotel’s online presence to attract planners.

The report also highlights that existing relationships should be nurtured as event planners value professionalism and partnership in hotel staff with 38% in Australia saying it’s important followed by 35% in Asia and 26% in Middle East & Africa.

Leveraging technology solutions that enable more seamless collaboration between planners and hoteliers, or that streamline complex processes like group room block management to reduce workload is another important way hospitality professionals can enhance their relationships with planners and further strengthen their reputation in the industry.

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