The word ‘MICE’ might scare the hell out of some people but it
is of great importance for people from the event management industry. For event
management industry, MICE is an acronym for Meetings, Incentives, Conferences,
and Exhibitions. However, for event management companies to do well in MICE, it
is crucial to identify possible barriers to the MICE growth, forecasting
estimated future demand for MICE venues, and also highlighting every drawback
with current venues.
In order to plan for MICE, event management companies require
specific planning to finalise the venue, transportations, accommodations, and
support services. Evidently, one of the most vital aspects of planning MICE is
the venue. For a venue to do good business, consider the existing capacity of
the venue, estimate its future demand, and determining the pros and cons of the
venue.
After the venue, 2nd most important thing to
consider is transport which includes ground as well as air transport. The main
trouble faced in planning for air transport is insufficient airline timetables.
Apart from transport, even accommodation is an essential criterion. It is
preferable that accommodations for MICE are close to MICE venues. If it is
a mega event, it will require years of planning.
Support services like shopping, entertainment, catering, and
others are a constraint for the event management industry and they need to be
meticulously planned to get the maximum benefit from MICE. The event management
industry must quickly develop corporate event
management services which help event management companies to develop as
MICE destination.
In conclusion, 2019 is the ideal year for event management
companies to develop MICE-specific planning skills in order to gain maximum
benefit from the boom estimated in MICE. As far as India is concerned, event
management companies are smartly cashing in the booming event management
industry. Now, it’s a race to become a specialist in planning MICE.
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