The Thailand Convention and Exhibition Bureau (TCEB) expects to receive 37.8 million Mice travellers (for meetings, incentives, conventions and exhibitions) next fiscal year, generating 232 billion baht.
Of the figures, 1.39 million will be foreign travellers generating a projected 105 billion baht in revenue, while 36.4 million domestic travellers are estimated to generate 127 billion baht.
TCEB president Chiruit Isarangkun Na Ayuthaya said Thailand will host a number of prominent events next fiscal year, which run from October 2019 to September 2020. These include the 86th UFI Global Congress in November, with an estimated 550 delegates from 50 countries attending the event held by UFI, the Global Association of the Exhibition Industry.
"This event can generate more than 44 million baht in revenue for the economy," Mr Chiruit said at the Thailand Mice Forum on Thursday. "Even better, the world will learn about the readiness of Bangkok in terms of the capabilities to host global events."
A total of 594,663 foreign Mice travellers visited Thailand in fiscal 2019's first half, contributing 44 billion baht. The TCEB expects the final figure to reach 1.24 million travellers with projected revenue of 101 billion baht by the end of the fiscal year.
At the forum, Mr Chiruit said the TCEB is ready to reveal its vision of Thai Mice next year, focusing on attracting events and providing support for both regional and global events in line with the government's policy.
Generation and distribution of revenue across all regions will include the holding of Mice events in different regions of the country, which will be promoted further as international events.
Kai Hattendorf, managing director and chief executive of UFI, said Thailand's global profile as a hub for international exhibitions has grown significantly in recent years, and the latest UFI research data shows that the market is well-positioned for additional growth in the years to come.
"Thailand's Mice industry already serves as a vital case study on how strategic development, policies and investments lead to tangible economic results beyond tourism," Mr Hattendorf said. "For UFI, this was also part of the decision to select Bangkok as this year's host destination for the Global UFI Congress."
Talun Theng, president of the Thai Exhibition Association, said Mice highlights next fiscal year include Asean Bike Expo powered by Euro Bike (Oct 3-5) with 8,000 delegates, Thailand Marine and Offshore Expo (Oct 9-11) with 3,700 delegates and VIV Health and Nutrition Asia (March 24-26) with 4,650 delegates.
Conventions include the Asia Fitness Conference (Oct 10-14) with 1,200 delegates in Bangkok and Routes Asia 2020 (March 8-10) with 1,200 delegates in Chiang Mai.
Meetings and incentives will include the Herbalife Southeast Asia Extravaganza (May 14-17) with 10,000 delegates, while big events include L'Etape Thailand By Tour de France (Oct 25-27) with 16,000 delegates in Phangnga.
Domestic exhibitions include Northeast Tech (Oct 31-Nov 3) with 40,000 delegates in Nakhon Ratchasima and Rice Expo (November) in Roi Et.