Thailand targets 23.1 million MICE visitors by fiscal 2024

The Thailand Convention and Exhibition Bureau (TCEB) has set a target to attract a minimum of 23.1 million meetings, incentives, conferences, and exhibitions (MICE) visitors by fiscal 2024. Through this, they aim to generate a revenue of 136 billion baht, which equates to 75% of the income recorded in 2019.

TCEB President Chiruit Isarangkun Na Ayuthaya noted that the challenge in achieving full recovery is primarily due to global economic pressure. He explained that the MICE industry is on a steady path to recovery, with geopolitical conflicts being a significant factor to consider.

Chiruit mentioned that Thailand’s bamboo diplomacy policy ensures no hurdles for MICE travellers from any nation. He highlighted that visa exemptions have boosted MICE visits from primary markets such as China and Taiwan. Despite the weak Chinese economy, entrepreneurs from the region are seeking international partnerships, considering Thailand a business hub for Southeast Asia.

Chiruit emphasised that the exhibition segment is witnessing the fastest growth within the MICE sectors, propelled by the demand for face-to-face meetings and trading, particularly among Chinese operators.

For fiscal 2024, TCEB anticipates at least 950,000 foreign MICE visitors, generating 63 billion baht in revenue. In addition, 22.2 million domestic MICE visitors are expected to produce 73 billion baht. From October to December 2023, the first quarter of the fiscal year, Thailand welcomed over 7.9 million Mice visitors, generating approximately 39.4 billion baht. This signifies a 90% recovery compared to the 2019 level, a result of the high season and increased flights.

The president of TCEB added that this positive trend is predicted to persist throughout the year. He further stated that the government’s MICE Cities project, aimed at promoting secondary tourism cities, includes several second-tier areas selected by the Thai Chamber of Commerce. The project plans to promote each province by emphasising its uniqueness and encouraging collaboration instead of competition.

MICE segment

Chiruit expressed that the MICE segment could aid in boosting Thailand’s 11 soft power sectors as these sectors require business matching and sales events for growth. The spending per trip for foreign MICE visitors stands at 66,000 baht per person, while domestic MICE travellers’ spending is approximately 3,300 baht per person.

This year’s highlights include the FIFA Congress 2024 and the UNESCO Creative Cities of Gastronomy Subnetwork Annual Conference 2024. TCEB is undertaking efforts to support Nakhon Ratchasima in bidding for the International Horticultural Expo 2029 during the International Association of Horticultural Producers’ meeting in March.

TCEB is also seeking funding for a feasibility study to host the InterPride World Conference 2026 and World Pride 2030. In 2019, Thailand received over 30.8 million Mice visitors, generating a revenue of 201 billion baht, reported Bangkok Post.