Thailand MICE revenue could top 100bn baht by 2009
The Thailand Convention and Exhibition Bureau’s Acting Director General Kajit Habanananda says that income from MICE is expected to rise to 100 billion baht, or 10% of total annual tourism revenue, within three years and the establishment of the country’s first research and development centre on MICE will enhance the efficiency of local operators in attracting more business for overseas.
Mr Kajit said at a briefing for the ASEAN MICE 2007 to be held from March 8 to 11 2007 that the TCEB earlier projected around 600,000 MICE visitors bringing in total income of 50 billion baht this year, or about 5 to 6% of tourism revenue.
Supported by the growing number of foreign-tourist arrivals, estimated by the Tourism Authority of Thailand at 20 million, with earnings of 700 billion baht in 2008, Mr Kajit said the revenue from MICE could achieve the projection of 10% of total tourism revenue.
According to Mr Kajit, delegates joining international conferences spent about 10,000 baht a day, or three times more than regular tourists, who spent 3,700 baht on average per day.
Opas Netraumpai, Vice President of the Thailand Incentive and Convention Association, said the MICE business had great potential, with value expected to increase from 40 billion baht last year to 50 billion this year and the number of visitors would also increase by 30% next year to 78,000, from 50,000 this year.
Paul Kanjanapas, a member of the Executive Committee of the Trade Exhibition Association and Managing Director of Impact Exhibition Management Co, said about three million square metres of exhibition space all over the country had been used for MICE activities last year and that as the operator of the 140,000-sq-m Impact, the largest exhibition centre in ASEAN, he was confident that Thailand had enough space to accommodate the growing business over the next five years.
Mr Paul said Impact also planned to invest 600 million baht in developing one building in Muang Thong Thani as serviced apartments for MICE visitors.
The first phase, starting next year, will develop around 300 rooms out of the total 1,000 units and room rents would be set at around 1,500 baht per night and another project is the construction of a 400-room boutique hotel near Impact, with investment capital of 500 million to one billion baht. The project is expected to be completed in 2008 or 2009 once the construction starts next year.
Special Thailand Report by The Mole
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