The Thailand Convention & Exhibition Bureau (TCEB) has discussed its landmark studies into the value of its MICE market.
TCEB’s vice president Supawan Teerarat (pictured right) told audiences at UFI’s 11th Open Seminar in Asia 2016 that the MICE industry contributed $US3,244m in 2014, 0.77% of Thailand’s overall GDP, and 1.46% of its service industry.
The MICE industry, Teerarat continued, has created 164,427 jobs in Thailand, contributing US$296m in government tax.
Elsewhere, Thailand’s resilience was highlighted by Teerarat, who said that despite the social and natural problems in recent years, the MICE industry has proved resilient, with an upward trend in MICE activity between 2009-2013.
The growth rate of MICE in comparison to other industries was also discussed, with Thailand’s MICE industry outgrowing overall GDP growth and nearly all market sectors except finance.
The exhibition industry in Thailand, meanwhile, was said to be responsible for nearly 44,000 jobs in 2015.