New report highlights value of MICE industry

LONDON A major report released by a group of influential industry players highlights the economic importance of the Asia Pacific conference, exhibitions and meetings industry.

The report, Measuring the Economic Importance of the Meetings Industry, was commissioned by the World Tourism Organisation (UNWTO), ICCA, Meeting Professionals International (MPI) and Reed Travel Exhibitions (RTE). The partners now plan to develop a unified method of measuring the revenues and costs associated with holding meetings, as well as the spending of meeting and incentive visitors. RTE chairman Tom Nutley, who first introduced the concept of the survey in 2003, said: "This is a huge, evolving project and it will not happen overnight. But, we now have the basis to go forward and secure the future of the meetings industry as an important economic contributor."