Outbound Chinese MICE market set to reach US$800m by 2020

Asia News
Outbound Chinese MICE market set to reach US$800m by 2020

Reed Travel Exhibitions’ ibtm china 2016 has revealed its high expectations for this year’s event, as statistics reveal the growing market in the country.

ibtm china takes place from 7-8 September at the China National Conference Centre, Beijing.

Recent statistics show some 17 million Chinese undertook outbound MICE business trips in the last five years. ibtm china expects the event to have an impact on international suppliers who want to attract business from the continent.

Cici Chen, ibtm china, senior project manager said: “China has witnessed a rapid expansion of the outbound MICE tourism market with spending in European countries expected to reach value close to US$800m by 2020.

“Post show research conducted following our 2015 show has confirmed that 68% of buyers attending the event, expressed an interest in placing business in Europe. Key source markets highlighted included Austria, Belgium, Bulgaria, Croatia, Denmark, France, Germany, Holland, Italy and Spain.”

The GBTA reported that this year China is poised to overtake the US as the number one business travel market in the world.

Chen continues: “ibtm china has, for over 10 years, been the platform for the world to connect with MICE business opportunities whether they be in China, the Asia region or internationally. Over 5,000 industry professionals took part in our 2015 event and this year we are aiming to deliver even more valuable sales leads to all of our exhibitors through several new high powered business, networking and education events.”

ibtm china will feature an appointment system where both hosted buyers and exhibitors can choose who they want to meet with face-to-face. Each supplier can expect a diary of up to 32 appointments over two days.

China has been a market focus for countries including Germany.

Conference & Meetings World is published for the international conference and meetings industry. It tackles the issues facing organisers of international events. The editorial is independent, fresh and news driven, with a global reach.

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