Rapid development makes for an exciting future

Rapid development makes for an exciting future

The Asia Pacific region’s meetings and events market is one of the most exciting and dynamic in the world and is currently enjoying a rapid ascent, forecast to become a major player in the MICE market.

As a result of this success as well as recent changes in the geo-political climate, more destinations across Asia Pacific (APAC) are waking up to the lucrative MICE tourism market (Meetings, Incentives, Conferences, Exhibitions). Eager to take their place on the global stage they are committing to serious investment to support growth.

APAC’s business events industry is expected to see the highest growth rate in the world to reach $441.1bn by 2025, as reported by Allied Market Research.

The growth of the industry is under-pinned by investment in infrastructure and high demand in commercial aviation – new airline routes and increased frequency continue to open up the region and hotel groups are still investing heavily. This is further helped by authorities making it simpler to do business in their region, with the ease of visa restrictions.

The 2019 Global Meetings and Events Forecast by American Express included perspectives from China and Hong Kong, Japan, and Australia to represent the region. The findings were positive, with growth predicted across most meeting categories, specifically product launches, conferences, and incentives.

Additionally, the report showed that the average budgeted cost per attendee for this region is between $1,500 and $2,000 (excluding air fare) – a promising sign, given the growing number of attendees.

Overall, the Asia Pacific region is an area of profound interest and opportunity for the meetings and events industry. Given this growth, IBTM have identified the need for a platform that will service the ever-increasing demand from both the inbound and outbound APAC markets.

Taking place on 6th – 8th April 2020 at the Marina Bay Sands Expo & Convention Centre, Singapore, the very first edition of IBTM Asia Pacific will bring together a high calibre of international and regional meeting planners and exhibitors for two days of pre-scheduled one-to-one business meetings, world class education sessions, demonstrations and networking.

For more information about IBTM Asia Pacific, visit https://www.ibtmasiapacific.com/

If you would like to enquire about opportunities to exhibit, contact a member of the sales team https://www.ibtmasiapacific.com/contact/

 

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