Four Reasons Why M.I.C.E Should be Supported by The Government

What is MICE? 

To the unaware and uninformed, MICE is an acronym for meetings, incentives, conferences, and exhibitions. Generally planned well in advance, it is a type of tourism wherein large groups are brought together and are geared towards a specific purpose. Once a location has been slated for this particular event, a gathering with a striking semblance to a convention takes place. Apart from this, the MICE industry is essentially what you would call a service industry. It encompasses finance, travel, trade and transportation and is characterized by three highs: high growth potential, highly beneficial innovation as well as high added values. As a result, it offers large outputs, large industry associations as well as large opportunities for employment with the respective advantages being the efficient utilization of human resources, assets, and technological know-how.

With a myriad of benefits attached to it, support from the government should not only be expected but perfunctory. Apart from the obvious growth in revenue a MICE convention would result to, it brings industry counterparts together as well as assist in the synergy ideas and bringing in additional clients. Additionally, it would serve as a cost effective means of advertising and would guarantee a boost in tourism which is why many countries would vie to promote themselves as a hot MICE destination. For this reason, MICE hotels in various countries have mushroomed seeing as economic growth and the opportunity to obtain a major piece of the industry offered in these conventions are just two of the benefits. Apart from the major boost in tourism and economic potential, here are some of the many reasons why MICE should be bolstered by the government:


1.)  MICE is a platform for Transfer of Knowledge and Technology


Undoubtedly, a chance to host the International Convention or Exhibition is a coveted chance most countries are vying for. This is because they would be incredibly fortunate to benefit in terms of economic value but the knowledge and technology transfer that the foreign participants, international speakers, and exhibitors would bring in with them is incredibly expansive. The country's local audience would have a lot to learn and can integrate all they have learned to their respective industries whether that may be in the medical or business field. As a result, professional and industrial growth can be expected which would gradually build up to economic growth.

2.) MICE would usher in tourists

Apart from the foreign participants and international guests one can expect in a MICE convention, the host country can also expect a horde of tourists to arrive in their country. A MICE convention is not only a convention by ordinary means, it gathers not only foreign speakers and international guests but experts of a particular field and industry as well which can potentially interest foreign investors and tourists. And who knows? Maybe one of those foreign investors may decide to invest in the host country as well.

3.) MICE benefits multiple industry suppliers

MICE creates a snowball effect to the economy and the industry directly related to it. An international exhibition or conference would involve not only hotels but airplanes, travel, tour operators, corporate giveaways, freight forwarders, production houses, exhibition venues, catering and so on. An event this big would certainly need all of those and because of that, the industry involved would not compete but rather collaborate in various different projects.  In a MICE event, a lot of partners would need to pitch in in order to make the event a success, a single entity cannot accomplish it alone.

4.) MICE gives a positive image to the host country

Whenever a country has the privilege of hosting a MICE event, it will without a doubt put its best foot forward in making sure that not only will their foreign guests feel welcome, but have an excellent experience as well. If a MICE event is staged well, foreign visitors and international participants will relay their experiences through word of mouth to their countrymen and if they have a positive experience, this will entice more tourists to visit the host country. This would all redound to the host country as, after all, a country with an excellent international image would attract foreign investors and a lot of opportunities.

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