Incentives market set to return the fastest, according to South American M.I.C.E. Alliance survey results

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Incentives market set to return the fastest, according to South American M.I.C.E. Alliance survey results

The Convention Bureaux of Bogota, Buenos Aires, Lima, Sao Paulo and Quito Tourism have presented, via a hybrid event, the results of their recent reactivation survey ‘Towards the new meetings industry’. It shows association business set for a sustained medium-term recovery but the incentives sector likely to make the quickest return, but with some changed priorities for buyers.

The report had the objective of showcasing the new reality for the MICE industry, in the associative and corporate markets, based on the results of a survey in the Latin-American, Interamerican, Ibero-American, Pan-American and global markets.

The associations surveyed listed the main actions expected from their Convention Bureaux were support with communication with public and private bodies and in the promotion and marketing of events and local destination offerings.

The South American M.I.C.E. Alliance project paints an accurate picture of how the industry has transformed and re-designed itself during the pandemic.

The Alliance presented the main indicators emerging from the survey and an analysis of the outcomes including the associations market continuing to place its stake on events and a sustained recovery of the industry in the medium-term, given that 60% of the associations said they were hoping to host at least three events during the next five years.

There is a trend for looking at in-person events from the second semester of 2021 with more optimism for 2022.

A third of the associations expect the attendance at their events to be over 1,000 people when they return in person

The survey found that the post-Covid era is set to mark a difference in the way associations select the destination for their events, with criteria such as the implementation of biosafety protocols, a country’s entry requirements, prices, and cancellation policies all to the fore.

The services listed in importance, above all, by associations for organising their events are, in order: hotels, virtual platforms, convention centres and venues, audiovisual equipment and transportation services.

In regards to the corporate market, the report indicates the sector is likely to make a rapid recovery particularly with the incentive trips, including in the short-term (second semester of 2021 and 2022). Two-thirds of survey respondents said have already received requests and have sent proposal for these periods.

The following trends also emerged from the survey and are likely to guide the corporate sector in the post-Covid era:

  • Groups of 100 participants as a maximum
  • Preferred duration of the trip: 3-6 days
  • Minimum spending budget per person: US$1,000
  • Slight tendency towards 5-star hotels

Criteria for selecting incentives destinations are similar to those presented in the associations market: implementation of biosecurity protocols, country’s entry requirements, vaccination plan, and costs.

“The trends presented in the survey report are a very valuable input for all the actors of the M.I.C.E. industry, given that new decisions will be taken based on precise information. The South American M.I.C.E. Alliance is very proud of this important contribution to the Region’s reactivation”, said Liliana Orbegozo, executive director of the Greater Bogota Convention Bureau.

“Without a doubt that working together towards positioning the region as a M.I.C.E. destination is fundamental for the reactivation of our industry,” Orbegozo added.

The Alliance’s hybrid presentation event took place in the Hilton hotels located in Bogota, Lima, Quito and Buenos Aires, with the hub at the Hilton Bogotá Corferias and with RLA LATAM as audiovisual sponsor.

Managing Editor, Conference News & Conference & Meetings World. Write Paul an E-mail

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