|Top three Asian countries account for one quarter of worldwide meetings.|
Asian economies dominate the MICE market, with the top three Asia countries securing almost one quarter of the world’s total international meetings, according to a new study.
Results from the fifth annual IBTM Global Meetings Industry Research China and Asia study revealed the top three countries from Asia host 23.7 percent of the world’s total international meetings.
Singapore topped the list with a 10 percent global share, while Japan (7.4 percent) and Korea (6.3 percent) followed closely behind.
The upcoming China Incentives, Business Travel & Meetings Exhibition (CIBTM) 2013 will take place in Beijing, with 60 percent of buyers seeing an increased volume of events over the last 12 months.
More than 50 percent of buyers also predicted continued growth over the next 12 months, while the same amount witnessed an increase in budgets for next year’s MICE events.
57 percent of respondents said business events in Asia will increase over the next 12 months.
Key factors identified by respondents which would have the most impact on their business events include; business development and expansion, market changes and increased demand, rising costs, technology, China’s and the global economy, new event styles and destinations, government policy and global political stability.