Thailand eyes MICE supremacy in Southeast Asia

Photo courtesy of The Nation

Thailand is pulling out all the stops to become the epicentre of MICE tourism in Southeast Asia, with Vietnam emerging as a potential powerhouse partner.

This ambitious vision, spearheaded by Puripan Bunnag, Senior Vice President of the Thailand Convention and Exhibition Bureau (TCEB), aims to harness the post-pandemic resurgence in the MICE sector to bolster Thailand’s economy.

“The MICE segment is bouncing back robustly, contributing positively to our economy after the challenges posed by the Covid-19 pandemic.”

In a remarkable recovery, Thailand welcomed 636,694 foreign MICE tourists in the first half of its 2024 fiscal year (October 2023 to March 2024), which is 78% of the total MICE arrivals for the entire 2023 fiscal year. This influx generated a whopping 36.72 billion baht, already 72% of the previous year’s total earnings from foreign MICE tourists. Vietnam notably ranked seventh, with 20,446 Vietnamese MICE visitors contributing to this surge.

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Vietnam’s burgeoning economy, fuelled by substantial foreign direct investment, makes it a fertile ground for MICE tourism.

“With its strong economic growth, Vietnam’s demand for products, services, technology, innovation, and business networks is set to rise.”

The ease of travel, including short-haul flights and multiple daily Thai Airways flights from Ho Chi Minh City and Hanoi to Bangkok, further enhances Vietnam’s potential as a key partner.

The TCEB’s strategic Cambodia-Vietnam-Thailand Economic Corridor (CVTEC) project envisions a sea route connecting Koh Chang in Thailand, Sihanoukville in Cambodia, and Phu Quoc Island in Vietnam. This one trip, three countries initiative is designed to attract foreign MICE tourists with seamless cross-border travel experiences.

Moreover, the TCEB is fostering collaboration between Thai, Cambodian, and Vietnamese MICE businesses to make these sea routes viable and appealing, reported The Nation.

“We are committed to supporting and creating favourable conditions for Vietnamese MICE tourist groups to travel to Thailand.”

In related news, Thailand’s export sector, which contributed 54.5% of GDP last year excluding services, faces potential disruption due to rapid technological advancements.

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Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.

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