MICE – an abbreviation for a huge market – meaning Meetings, Incentives, Conventions, and Events. The MICE industry ist also referred to as Meetings Industry or Tourism and Conventions Industry. In other words, it is a type of tourism where large groups of people come together in a particular place and for a particular reason such as a mutual interest. These events usually demand a long period of extensive planning. This article will explain in more detail what the MICE industry is. We provide a definition of the term, MICE, and talk about the industry’s most relevant markets.
Definition
Meeting
A meeting describes a group of at least ten people from one or more companies. They come together once or on a regular basis. The term can refer to conferences, training sessions, seminars and workshops, as well as AGMs and internal sales meetings.
Meetings usually take place at the company’s headquarters or another one of its offices. The attendees are mainly customers or major suppliers.
Incentive
Incentives are rewards given to employees, retailers or customers. The is taking care of any costs. Unlike other types of MICE travel, incentives are actual holidays. They do not serve an educational purpose or impact the immediate success of the company. Companies use them to boost morale or strengthen working relationships within the company.
Therefore, quality and comfort are of the utmost importance when planning an incentive for a stakeholder. In order to make the invitation as attractive as possible for the recipient, companies usually opt for 4-5 star hotels. They want to ensure a high service standard and first-class catering. The venue should be easily accessible and located in a politically stable and safe region.
Convention
Conventions are large scale events, which often take place around a trade fair or an exhibition. Several hundred or thousand people with a common interest, e.g. work, culture, religion, or a particular hobby, come together to engage with the event. Conferences tend to have fewer participants and often last for several days.
Similar to incentives, convention events take place in prime locations, e.g. 3-5 star hotels or a prime convention centre with flexible room layouts. The venue should be easy to reach by plane, train or car. Furthmore, it should have an appealing look & feel. If possible, we recommend involving the local neighbourhood into the convention programme and working with local suppliers and businesses.
Event
‘E’ stands for Event, which can refer to corporate anniversaries, Christmas parties, and events put on for customers, employees or business partners. In these instances, the “wow-factor” and the emotional touch of the event are crucial.
Leisure Tourism vs. MICE Travel
To understand what the MICE industry involves it helps to define the difference between business and leisure tourism. See the table below for a summary of the differences.
The MICE Industry’s Most Important Markets
The ICCA Statistics Report Country & City Rankings 2018 shows that based on the number of meetings per country, the most relevant market for the MICE industry is the US, followed by Germany, the Spain, France and the UK.
In the global ranking of meetings per city, Paris is in first place. It is followed by Vienna, Madrid, Barcelona and Berlin, then Lisbon, and, finally, London.
The MICE Industry As An Economic Factor
MICE events serve as networking opportunities for all of the businesses involved. Meetings that take place at these events promote investment, trade, communication, and technology. Consequently, the MICE industry has a beneficial effect on many other industries. When business travellers gather in a location for a convention, the also give a boost to the local tourism industry. This can be particularly welcome during out-of-season periods in order to improve the because the infrastructure. Plus: business travellers on average spend more money in a short amount of time than leisure travellers.
According to 2017’s Pro Sky Destination Report, the vast majority of MICE events cater to groups of 50 to 100 people (49%) or up to 50 people (46%). In terms of duration, most attendees will stay two (55%) or three (46%) nights.
The event venue further stands to benefit from the MICE industry. Business travellers may choose to return to stay as leisure tourists. For example, a MICE traveller might extend their stay, bring along their partner or come back with family or friends for a holiday. The MICE industry can also give a boost to the local job market. Popular convention destinations profit from business travellers. Sharing expert knowledge and professional contacts boosts innovation and creativity. Participants of MICE events benefit from the community spirit. So, all in all, the MICE industry is an influential and significant economic factor.
Key Aspects
Considerations that matter to attendees and that should, therefore, be acknowledged by decision makers in the MICE industry, are location, quality, experiential value, and sustainability.
Choice of venue
When choosing a venue, the main features to look for are accessibility, security, and sufficient capacity. The more easily the location can be reached by plane, train or car, the happier business travellers will be. In fact, according to the 2017 Pro Sky Destination Report, accessibility is the most important selection criterion for decision-makers. The look and feel of the venue also has an impact. It can influcence the whole event and enhance its success. The location should be in a politically stable region. Furthermore, there should be a choice of nearby leisure activities available for attendees.
Find a venue for your event here
High Quality
Quality is a major factor in the MICE industry because business travellers tend to have higher demands than leisure tourists. Elements such as customer service, safe and reliable transport, clean and comfortable accommodation, good catering, and conference rooms with excellent technical infrastructure, play a big role.
Experiential value at a reasonable price
The MICE industry is less about exotic and unknown locations and more about value for money. The location should offer a unique and memorable experience at a reasonable price. An exciting event programme before and after formal seminars and meetings are a great way to increase experiential value for attendees.
Sustainability in the MICE industry
Current increased environmental public awareness also affects the MICE industry. In fact, sustainability is now one of the main criteria for companies to choose the right venue. Having a strategy for sustainability can convey credibility and trustworthiness. Decision-makers need to take aspects of sustainability in service, product, accommodation and other areas into account.
MICE Locations From The Event Inc Portfolio
In the following we would like to introduce you to a few MICE locations from the Event Inc portfolio.
National Maritime Museum
Spanned by a spectacular glass roof, the heart of the venue is a meeting of classical 19th-century grandeur and innovative modern architecture. Its capacity for large-scale staging, rigging and branding makes it ideal for award shows, gala dinners and product launches.
On the ground floor, the Square is an optimal space for receptions and pre-dinner drinks. On warm evenings, receptions can be hosted under the adjacent stone colonnades with sweeping views across Greenwich Park.
The Great Map, situated on the first floor, is a light, open and modern space. The newly-installed lighting and audio rig is a great add-on to create the perfect dramatic backdrop to award ceremonies and gala dinners for up to 580 seated guests.
The museum also houses a lecture theatre, which is ideal for daytime meetings and conferences.
Book The National Maritime Museum here
Church House Westminster
With nineteen characterful rooms that range from both large to small and impressive to intimate, this Grade II listed building is a versatile event and conference venue. It can accommodate up to 600 guests in one exclusive space. In general, the venue can be adapted to fit all event requirements.
The largest space, The Assembly Hall, has an abundance of natural light which shines through the 15 arched windows onto the gallery level. Other unique features of the space includes polished oak panelling and a striking 30 foot glass dome which is a true focal point for this space.
With art deco chandeliers and a built-in stafe, Hoare Memorial Hall, is the second of our larger rooms and is often booked alongside the Assembly Hall. It is also an alternative venue for conferences of up over 200 guests, drinks receptions and dinners.
Centrally located within a peaceful and green setting and with views of Westminster Abbey, this venue is conveniently located with excellent transport links nearby.
Book Church House Westminster here
Old Billingsgate
In the heart of the City on the North bank of the River Thames, stands a striking historic building that is a remarkable part of London’s heritage. This venue encompasses three versatile spaces and a beautiful terrace with unrivalled views of Tower Bridge, City Hall, The Shard and London Bridge.
The three unique spaces; The Grand Hall, The Vault and The Gallery, are available to be used separately or in conjunction with each other. As a blank canvas space the opportunities are endless!
The Grand Hall comfortably seats 1,200 for a dinner dance or can effortlessly accommodate a standing reception for 2,500 guests.
The Terrace makes for an unforgettable entrance with fantastic views. It provides an ideal setting for summer drinks receptions and is the perfect backdrop for photo and filming opportunities. The riverside Terrace, included within the hire of The Grand Hall, offers unrivalled views of Tower Bridge, The Shard and HMS Belfast.
The Yard
Located in the heart of Shoreditch, this Victorian Warehouse is a unique and versatile space that impressively combines original features with a contemporary twist.
This blank canvas space is perfect for conferences, exhibitions, fashion shows and product launches, with many opportunities for branding. It can host up to 400 people.
The ambitious in-house production team is available to help bring any concepts to life. They produce creative and culturally meaningful events to support clients to achieve strategic goals.
Battersea Evolution
A one-of-a-kind dynamic and versatile venue is a private and corporate event venue; this 5,650m² venue sits in the heart of Battersea Park, ideal for those wanting to give their event the wow-factor from the moment their guests arrive.
This purpose-built space is designed to cater for every occasion, seating up to 2,000 for dinners and 4,000 for conferences. This open and versatile location is the perfect venue space in London for all kinds of event.
The vast open space that is ideal for customisation, and is unlike other London venues, it can be adapted to suit the kind of event you’re hosting and the theme you’re portraying, by changing the layout and décor of the entire space.
Conclusion
The acronym MICE stands for different types of events, which can be summarised as business trips. Some parts of leisure tourism are included, namely incentives. The MICE industry is an economic factor independently whilst considering the effects MICE events have on the venues and locations where they take place.
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