TCEB generates 1 trillion baht MiCE revenue to Thailand

Thailand Conventions & Exhibitions Bureau (TCEB) has reported more than one trillion baht of the MiCE revenue generated to Thailand’s economy. The bureau showcased 13 years of its MiCE development path  at the Thailand MICE Forum 2018: Redefining Our Industry.  Since TCEB’s establishment, Thailand has been hosting 20 international MICE events per a year through the bureau’s successful bids while supports have been granted to more than 5,000 MICE events in Thailand and overseas. During the forum, TCEB also announced the reform of its strategies in three parts to promote the sustainable MICE industry in the fiscal year 2019.

Dr. Atchaka Sibunruang, Chairman of the Board of Directors, TCEB, said the bureau has provided support to more than 5,000 domestic and international events held in Thailand and overseas countries. TCEB has been engaging in important missions to support the development of MiCE sector including the establishment of MICE Standards, the facilitation for MiCE Visa and MiCE logistics, as well as the development of MiCE Prototype Manual, MICE Cities and Area-based Development.

“The statistics from 2017 showed that TCEB and operators in the MiCE industry had created a positive impact on the Thailand’s economy in different aspects. MiCE expenditure stood as high as 231,200 million baht, contributing 173,000 million baht, or 1.1%, to the country’s GDP. The contribution rate of MiCE to the country’s GDP is comparable to Singapore. Meanwhile, in the same year, the industry has contributed 21,600 million baht of tax and created as many as 167,300 jobs,” said Dr. Atchaka.

In term of the global ranking, the International Congress and Convention Association (ICCA) and the Global Association of the Exhibition Industry (UFI) in 2017 have rated Thailand the fifth Convention Destination in Asia by numbers of conventions, and the seventh Exhibition Destination in Asia by exhibitions space sold. The country ranked the top spot in ASEAN countries for both rankings.

According to TCEB, in first three-quarter of the fiscal year 2018, Thailand has welcomed 25,291,439 MiCE travellers, generating 154,779 million baht in revenue to the country.

“The change of operation guideline enables TCEB to reform its tasks and roles by focusing on the joint effort which truly dedicates to the industry, creatively make a difference, and establish the partnership to drive the growth of MICE industry. In the fiscal year of 2019, Thailand is projected to welcome 40,356,337 MICE travellers with projected revenue at 228,627 million baht. Of those projected figures, 1,419,890 are international MiCE travellers generating 130,200 million baht in revenue, while 38,936,447 are domestic MiCE travellers generating 98,427 million baht in revenue to Thailand,” added Dr. Atchaka.