The rapid expansion of China’s MICE market continues to draw more international companies in this growing industry. According to a 2011 Global Meetings Procurement Agency HelmsBriscoe report, the value of China’s conference and events industry was estimated at USD 150 billion, with tens of millions of conferences held every year. The Chinese MICE industry itself is burgeoning at 20 percent annually - reflecting the endless opportunities for both international and domestic MICE suppliers alike. Meanwhile, a 2012 study by PhoCusWright showed a doubling of China’s travel gross bookings over a span of five years from USD 54.8 billion in 2009 to USD 105.5 billion in 2013.
For many MICE industry suppliers, China’s relentless growth translates to inevitable shifts in customer geographies, where the country is already amongst their top buying markets.
This year the IT&CM China event is set to welcome approximately 3,000 MICE professionals from sectors including DMCs, PCOs, corporate travel and associations. The show will also feature 400 hosted delegates with over 10,000 business appointments scheduled to be conducted.
At the same time, more than 60 business and education and networking sessions are planned for delegates. The organisers of the show expect this year to secure 67 percent new buyers with a targeted ratio of 1.25 buyers to one exhibiting company.
IT&CM China 2014 will also be anchoring the Shanghai Business Events Week (SBEW) featuring eight industry businesses of education and networking events.
More information is available at www.itcmchina.com.