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MICE – Top Future Trends in a Worldwide Foreseeable Future

Jul 31 • Conference Management • 615 Views • No Comments on MICE – Top Future Trends in a Worldwide Foreseeable Future

Industry predictions indicate that the MICE (Meetings, Incentives, Conferences and Exhibitions) sector is poised for vigorous growth worldwide. Actually it is recuperating and springing back, stronger than ever. The demand for meetings is on the rise and though companies are not luxuriating, luxury venues are not being ruled out either. In general, there are some emerging trends which have been observed. Let us take a look at a top ten MICE trends in the foreseeable future, which have been released recently by an American company operating around 35 renowned hotels & venues, resorts, and conference centers.

Top Future Trends

1. Return to luxury — Budget constraints have not vanished and purse strings are far from being completely loosened. However, luxury resorts are not out of bounds either.

2. Meeting demand is at its peak since 2008 — there is growing demand across all sectors, telecommunications, education and insurance, healthcare, energy and many more.

3. Meeting size is growing — the growing demand for meetings has resulted in hotels giving preference to larger meetings capable of paying more. Hotels are not as flexible as before when it comes to walk-in bookings and last minute bookings are not possible anymore. Good venues have to be booked well in advance.

4. Meeting space is changing — the traditional ‘boardroom-style’ space is being replaced by an innovative approach where huge outdoor meeting spaces, smaller cozy nooks for limited gatherings and different kinds of seating are being requested. The focus is on creating conducive settings and it is no more a surprising sight to see delegates assembled around a campfire or at a bar.

5. New age technology — Meetings and events are getting more tech-savvy than ever before. Apps downloaded on smart phones and iPads, easily accessible mobile sites and meeting-dedicated Facebook pages are assisting planners with the registration process, informing them of programs and offering an easier method to gather feedback from participants after the events. Note taking through iPads, LCD projectors and the latest audio-visual technological tools – events have been totally transformed by technology.

6. The Meeting Package is back — the last couple of years saw a decline in the meeting package but it has made a strong comeback again this year. Planners are again embracing the product for the value it offers the meeting budget. Planners are requesting for customized packages rather than unbundling.

7. Prices are increasing slowly — the improvement in economy is resulting in slowly increasing prices of meetings. Though value for money is still an important factor, the planners are yielding to prices being a little higher than before.

8. Teambuilding activities are making a comeback — Venues, which are offering creative options for teambuilding activities are in demand. For instance venues with options for holding cookery classes, beach-volleyball or golf lessons are attracting more meeting planners.

9. Facing cut throat competition — the improvement in the economy brings with it fierce competition and no company can afford to lag behind in the race for supremacy. Training budgets are being revamped to ensure best-trained sales and management personnel for survival in the competitive global economy.

10. Growing importance of the destination — the meeting destinations have gained new importance. Planners are looking for value for money and an exotic destination is not necessarily what they are looking at. Destinations which offer great value and a relaxed atmosphere are being preferred. Along with facilities for meetings, destinations which offer recreational opportunities and learning in relaxed settings are becoming popular.

Source: Interesting observations by a leading American Company: Benchmark Hospitality International – May, 2016.

 

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