The MICE industry is a vital component of the tourism industry and the economic development in destinations. The industry is still growing at a tremendous pace and generates millions in revenues. Innovative technologies have been transforming the travel industry. Which technological trends will be impacting the MICE industry this year?

 

Technology

 

Gone are the days, when venues only needed to provide an overhead projector. Now, venues not only need to provide high speed internet connection, but also virtual assistants. Technologies, like virtual reality, artificial intelligence, etc., will affect the travel experience. Virtual and augmented reality, web casting, live streaming and video conferencing are not considered luxury, they will become increasingly important. It is essential for venues to stay updated with these trends to stay at the top of the game.

 

Apps have become key features of events. Event apps provide easier registration and offer a conversation both before and after the event. Simplify is the buzzword for 2018. Everyone in the MICE industry will ensure that the guest's journey is easy and efficient. Technology will help to personalize experiences; it won't replace the human interaction but will enhance it.

 

An increase in virtual attendance at events is expected. Therefore, venues need to provide opportunities for online attendance and intervention, so people inside and outside the venue can participate. 360-degree images and virtual reality on Youtube, Facebook and Periscope will become important for event promotion this year.

 

Experience

 

Standard conference halls and regular buffet food are no longer sufficient to please and satisfy clients. Unique experiences count. Spa treatments, team building, cocktail courses- venues need to offer fun activities alongside the serious business focus. For the younger generations, work is life and life is work. Therefore, meetings should not be dull, but provide offerings, activities and meeting spaces to lure the guests. Venues that provide exciting new experiences will have the most ROI.

 

Events need to be more experiential. Organizers want tailor-made experiences with a unique flavor. Flexible meeting spaces are near the top of every participants' wish list. Venues need more than just to provide a space for an event, they need to create the overall personalized experience for the client. People do not want a cookie-cutter approach, they value individuality. Therefore, flexibility is a must these days to organize the event to specific requests.

 

Security

 

Executives from hotel chains, convention centers, and receptive agencies highlight the importance of security – all events should be held under greater security measures and inspections. All MICE tourism destinations that are mass events are, therefore, possible targets. Therefore, they should have contingency plans ready, evaluated and previously tested to lower the chances of an attack.

 

Since zero risk is impossible in case of an attack, bomb threat, etc., experts advise that the situation should be communicated to the delegates in the fastest and most accurate way possible: through text messages, instant messaging, email, etc.

 

M.I.C.E. Industry

 

According to a new report published by Allied Market Research, MICE Industry by Event Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global MICE industry was valued at $752 billion in 2016, and is projected to reach $1,245 billion in 2023, registering a CAGR of 7.5% from 2017 to 2023.