Asia drives Thailand’s events

BANGKOK, 28 March 2013: Thailand Convention and Exhibition Bureau says Asia remains the top market driving the events business to Thailand during the first quarter of its current fiscal year, October to December 2012.

Eight of Thailand’s top 10 events markets are in Asia with just two outside the region; ninth and 10th ranked Australia and the USA.

TCEB board member and acting president, Thongchai Sridama, said Q1 events grew 14.10% attracting 177,699 international visitors and generating Bt15,103 million in revenue.

“We will continue to tap emerging market in ASEAN+6 (China, Japan, South Korea, Australia, New Zealand, and India), Asia accounted for a 57.68% share making it’s the strongest in Q1.”

There were 102,501 Asian event visitors and that generated an estimated Bt8,711 million according to TCEB assessments.

“India, China, Japan, South Korea, and Malaysia are the top five potential markets, but the Americas recovered increasing 17.15%.”

Australia has traditionally been a strong MICE market for Thailand going back to the 1980s and that trend continues. European markets are still a problem as the economic crisis continues. It has caused a decline in events-related arrivals of 34.20% in TCEB’s Q1 data.

Mr Thongchai added: “Australia, America, Hong Kong, Taiwan, and Indonesia are the top markets in growth. The first two posted a massive growth of 395.49% and 300.85%, while the others improved 168.88%, 114.06% and 51.87% respectively.”

MICE operators should adjust their marketing strategy to tap these growth markets to compensate for the drop in Europe, he suggested.

TCEB then will continue to work on the ASEAN+6 markets that have volume and potential to grow.

It will campaign in Singapore, Malaysia, Indonesia, Japan and Australia for meetings and incentives. Exhibitions have strong potential in Singapore, Malaysia, Japan, India, Vietnam and China.”

For the Q1, incentives enjoyed a  growth of 32% followed by conventions (30%); meetings (21%); and exhibitions (17%).

For this fiscal year, TCEB forecasts the country will attract 940,000 MICE visitors and generate Bt88,000 million compared to 895,224 visits and Bt79,770 million in 2012 fiscal year.

Sourced: ttrweekly