THE IMPORTANCE OF THE MICE INDUSTRY IN THE SA ECONOMY
During the recent Meetings Africa 2018 conference, it was pointed out that business tourism contributed an astonishing R115bn to the South African economy. These business visitors generally spend more than the usual leisure traveller. This money is most commonly spent at hotels, conference centres, restaurants, country clubs, and convention centres.
Together with this, some of this money is spent at nearly every unique venue imaginable. It’s obvious that corporate event planning and all that goes with it is a big financial boost for our country.
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WHAT ARE BUSINESS EVENTS?
There is a fine line between business events and event shows. Business Events must measurably change a combination of asset, liability or equity accounts, otherwise it is not a business event.
There are different types of Business Events, to name a few:
• Seminars and Conferences
• Board Meetings & Shareholder Meetings
• Executive Retreats & Incentive Programs
• Golf Events
• Appreciation Events
• Company Milestones
• Team Building Events
• Product Launches
• Trade Shows
WHAT IS ‘MICE’?
MICE stands for Meetings, Incentives, Conventions and Exhibitions.
MICE can be likened to a type of tourism. Tours are usually planned well in advance for larger groups and delegates are brought together for a particular purpose.
The coming together of a group of two or more people in one place. This provides them with the opportunity of conferring or participating, in particular activities. There is often a ‘frequency’ element attached to meetings, for example, Annual General Meetings, Committee Meetings, Executive Board Meetings, etc.
These gatherings usually form part of a programme which offers delegates rewards, based on previous performance, or promises rewards on future expectations.
Conferences usually take on a smaller module than congresses. They are more select in character and invite participation from delegates, encouraging an exchange of information, fact-finding and problem solving. Conferences are usually limited to time, having specific objectives.
Quite simply, an Exhibition is a public assembly for the purpose of Marketing, Celebrations, Education and even Reunions.
WHY ARE BUSINESS EVENTS SO IMPORTANT FOR OUR ECONOMY?
As in many other countries, South Africa is greatly affected by the Meetings and Events industry, which has a tremendously powerful impact on the country’s economy.
Whilst leisure is an important component, operators are developing a more diverse offering, driven by business tourism and conferencing. According to the South African National Convention Bureau, South Africa hosts about one million delegates at business events every year, supporting over 250,000 jobs directly and indirectly in this sub-sector alone.
It is apparent that more and more Corporates are investing in Business Eventing, whether it is a Business Meeting, Trade Exhibition, Gala Dinner, an incentive drive or a conference.
Cape Town has once again claimed the number one spot as a global competitive business destination. The recent expansion of the CTICC (II) to the tune of R900-Million has played an integral role in securing this prestigious recognition.
In 2017, 3 400 international delegates experienced Cape Town, helping grow the economy and creating jobs in the areas of tourism, conferencing and hospitality. Investment teams and streams like the Convention Bureau are hard at work, to attract major events and to make Cape Town the world meeting destination.
Source: GL Events