This shift in budgets has had significant impact on all related industries. In the first eight months of 2013, the MICE segment of travel grew by 6 per cent while traditional business travel shrank by 10 per cent, found the ITB World Travel Trends Report. The MICE segment now accounts for 54 per cent of the total business travel market.
In recognition of the MICE industry's growing influence in the region, the Incentive Conference & Event Society has introduced the inaugural ICE Annual Conference which will take place in Bali from 12 to 14 November. The event aims to deliver engagement between different levels of the industry with a focus on corporate clients.
The speaker lineup includes Bert Li, associate director AV & event production, Amway; Herve Joseph-Antoine, global managing director, Pacific World; and Simon Cooper, president, Marriott International AP. They will speak in sessions that span a range of relevant topics such as crisis management in the face of natural disasters, political upheaval and terrorist threats, using events to drive corporate performance and newest trends in business events.