This year is the third edition of TIME held, to focus on Thailand’s long haul MICE markets namely Europe, North America, and Oceania. According to the organiser TCEB, the event creates business opportunities, enhance understanding and new perspectives, and updates on market insights for MICE entrepreneurs.
TIME concentrate on three primary activities: knowledge exchange; business exchange; and experience exchange. Nichapa Yoswee, vice president of TCEB added, besides TIME2018, TCEB is also introducing a promotional campaign ‘Meet by Design’ which is specially created to attract MI groups.
She said that the Meetings and Incentives (MI) sector is a significant contributor to Thailand’s MICE industry, generating approximately 50 percent of the industry’s total revenue. The recent statistics in the first-half of this fiscal year showed that MI sector delivered the highest growth rate. Meeting sector (M) alone welcomed 150,849 business travellers, or 11.81 percent increased from the same period last year.
Incentives sector (I) welcomed 176,005 business travellers representing 21.63 percent growth. To elevate the MI sector, TCEB has implemented strategic plans for this year and 2019 to focus on building MICE ecosystem to support the MI sector that will be of benefit to all target groups.
TCEB expects that at the end of 2018 fiscal year, Thailand will welcome 1,327,000 business travellers with 124,000 million baht in revenue to the country. Of these figures, business travellers from MI sectors are expected to reach 569,000 with a growth rate of seven percent. On the overall, the long haul MICE market is expected to grow by five percent.