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What Is MICE Industry? Meetings, Incentives, Conferences, And Exhibitions

What Is MICE Industry? Meetings, Incentives, Conferences, And Exhibitions

Lila Cailles

The term MICE is well-known by people who work in the tourism, hospitality, and event industry. It’s a unique concept that describes a dynamic and growing market, which is based on event organization. As an industry, MICE also includes travel and tourism. If you’re curious about the MICE Industry, keep on reading to learn more.

 

What Is The MICE Industry?

What Is The MICE Industry?

MICE is an acronym for meetings, incentives, conferences, and exhibitions. These are the different types of events that MICE covers. By nature, MICE is tourism. When referring to structure and objective, it is an event organizing industry. Some people also refer to MICE as business tourism or business events. 

The MICE industry refers to the business that involves organizing, conducting, and attending business and leisure events. Other leisure events such as festivals or concerts belong to a different category, but organizers make use of leisure elements to engage attendees better.

The MICE industry also includes taking care of travel and tourism needs. It makes up a large part of global business travel as meetings, incentives, conferences, and exhibitions invite and attract attendees from different parts of the country and of the world. 

 

Important Parts Of The MICE Industry

 Important Parts Of The MICE Industry

MICE is all about events. The industry is made of four types of events, which are typically held in person. But over the years, hybrid and virtual events have also increased due to COVID-19. 

 

Meetings

A meeting is a formal gathering of people who need to conduct business activity or hold a formal discussion. Sometimes, these meetings are combined with informal activities. The goal is to bring together people from an organization, a project, or an industry with the aim to discuss plans, set goals, or strategize for challenges.

Examples of meetings include the following:

  • Annual general meetings
  • Board meetings
  • Management meetings
  • Training or onboarding meetings
  • Meetings with suppliers and dealers
  • Team building meetings
  • Product launches

Internal meetings are often held by members of companies, associations, and also other types of organizations. There are also external meetings where members of an organization meet with clients, dealers, and other partners. Meetings are typically held in conference rooms or convention centers. 

Meetings provide an opportunity for attendees to also plan group tourism to enjoy recreation and leisure travel.

 

Incentives

Incentives are a segment of MICE with the purpose of leisure. It refers to the travel rewards that an organization will offer to staff, teams, partners, affiliates — and sometimes, for customers. The main goals are to show appreciation for a great performance, boost morale, and also increase loyalty. 

An incentive will typically involve group travel with hotel accommodations, dinner, and recreational activities. 

 

Conferences

Taking meetings to the next level, conferences are made for large corporate groups and are usually done over several days. Compared to meetings, this type of event often has more attendees. Conferences are also often called conventions. The main purpose of this event is to share new insights, find solutions to challenges, and network.

A conference typically involves key members of an organization, guest speakers, and also the public. Conferences are also not limited to one organization. But it can look different depending on the organizers and the industry. Common activities in a conference include panels, presentations, speeches, discussions, and workshops.

Conference attendees consist of representatives from different organizations, and this can involve group travel and tourism.

 

Exhibitions

Exhibitions are events where an organization/s promotes products and services to the public. New launches and information relating to their products and services are also exhibited. An exhibition usually covers a specific industry and a target market. This type of event typically draws thousands of exhibitors and visitors and can last from several days to a week. 

In exhibitions, exhibitors can cooperate or establish a working relationship with existing and potential partners. Professionals in the industry will go to the event to find clients, learn new things, and network. Examples of exhibitions are trade shows and expos, which can be done in a business-to-consumer (B2C) or business-to-business (B2B) model.

Exhibitions also open leisure travel opportunities for attendees from different locations. 

 

Key Takeaway

What is the MICE industry? The MICE industry is composed of four pillars. From meetings, incentives, conferences, and exhibitions, each event brings together people from different industries to foster connections, promote new ideas, and encourage growth. MICE is an event organizing industry, but it is also an important part of global business travel because events invite people from different places to attend, learn, and share ideas. 

The World Trade Center Metro Manila (WTCMM) is the best cooperate event venue in the Philippines for meetings, conferences, exhibitions, and other corporate events. It has seen major exhibitions and trade shows attended by foreign delegations and buyers from different places in the world. Located in a strategic location accessible to airports, seaports, hotels, entertainment facilities, and places of culture — WTCMM is an excellent venue for different types of MICE events. 

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