The Thailand Convention & Exhibition Bureau (TCEB) predicts that Asia will be an attractive destination for meetings, incentives, conventions and exhibitions (Mice) activities because of the region's growing economy.
While Europe struggles with a stuttering economy and the US is in recovery mode, Asia is expected to be a rising star next year. Besides, the full liberalisation of the Asean Economic Community (AEC) is expected make the region stronger.
Capitalising on this trend, the TCEB plans to work closely with the private sector to attract more Mice visitors to the region. The Asian market accounts for 55% of total Mice visitors to Thailand.
Supawan Teerarat, TCEB's vice-president for strategic and business development, said there was high competition in the sector, especially for exhibitions. Myanmar is an attractive country after opening its doors to foreign investment. The vast population of Indonesia also makes it very appealing.
She added that trade across Cambodia, Laos, Myanmar and Vietnam will grow significantly. This will help the regional economy become stronger and more attractive to investors.
Thailand needs to adjust its strategy to deal with growing competition. TCEB has launched the "Thailand Connect The World" campaign to promote three fundamental pillars of Thailand's Mice industry — destination, business and people — to attract more Mice organisers and visitors.
Thailand is being promoted for its borderless business potential and as the world's biggest market for opportunities, banking on the full implementation of the AEC.
Thailand will rank among the world's centre of trade with a regional population of around 3.35 billion, thanks to easy reach of more than 16 countries.
Besides, the upcoming collaboration and partnership programmes, the Regional Comprehensive Economic Partnership, the Regional Cooperation and Integration, the Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation and Asia Pacific Economic Cooperation (Apec) will benefit Thailand's Mice business.
Thai people are linked with Discover Thainess 2015. TCEB promotes the Thai way of life with international standards to attract Mice visitors.
Ms Supawan said the TCEB was working closely with the private sector and promoting the Thailand Connect The World campaign at all roadshows next year.
In fiscal 2014, ending Sept 30, there were 919,164 Mice visitors who generated 80.1 billion baht revenue. In fiscal 2015, the TCEB expects the country to welcome 1.04 million visitors and generate 107 billion baht revenue.
The TCEB is confident that the international meetings and incentives market will revive next year after receiving interest from foreign organisers with 500 appointments during the three-day roadshow at EIBTM 2014 in Barcelona, Spain last month.