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What is MICE?

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Business TourismBusiness Events

MICE(Meetings, Incentives, Conferences,

Events)

The Importance of Business Tourism

• Benefits way beyond Tourism• Business Events Sydney report lists a total of 19 benefits in 6

distinct categories • Knowledge exchange • Networking • Education• Fundraising• Destination reputation • Media coverage

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BUSINESS EVENT OUTCOMES

1. Knowledge Expansion• Growing local knowledge• Knowledge improving education• Knowledge improving professional

practice

4. Fundraising & Future Research Capacity• Fundraising opportunities• Greater access to government and/or

private sector funding sources

2. Networking, Relationships & Collaboration

• Access to networking opportunities for local practitioners and researchers

• Networking fosters creation of long term relationships

• Networking as a catalyst for knowledge expansion, research development & research collaborations

• Research collaborations lead to development of new product & technologies

5. Raising Awareness & Profiling• Generating awareness of sector specific

issues• Raising awareness of broader societal

issues• Profiling local organizations, associations

and/or centres• A catalyst for government support

3. Educational Outcomes• Opportunities for local postgraduate

research students• Increased attractiveness of education

sector

6. Showcasing & Destination Reputation• Showcasing local talent • Enhancing Sydney’s reputation as a global

leader• Enhancing Sydney’s reputation as a

business events destination

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MEETING INCENTIVE

Budget Fixed Varies

Attendance By invitation Qualification

Number of Participants

Known(unknown for some

meetings)

Unknown(in most cases)

Objectives SoftHard

Results VagueSpecific &

Quantifiable

Meetings & Incentives: Differences

Why?• Size of market• Come year round / mainly off season• Value sensitive / not price• Use multiple services• Future business leisure + business

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PLAYERS

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PLAYERS

A DMC is a specialist service organisation offering unique local

knowledge, expertise, creativity and above all, unrivalled strategic

understanding of the global meetings, incentives, conferences and events

industry

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What is a DMC ?

What is a PCO?

A PCO is a company, which specialises in the management of congresses. The company will act

as a consultant to the organising committee or headquarter organisation, enacting its decisions

and assisting to fulfil their objectives, whilst utilising the experience and knowledge it has gained over many years in organising events

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Incentive travel is a global management tool that uses an exceptional travel experience to motivate and /or recognise participants for increased levels of performance in support of organisational goals

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What is Incentive Travel?

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DMC /Hotel

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DMC

HOTEL

AGENCY

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DMC

HOTEL

PCO

ASSOCIATION

ASSOCIATION INTERNAL EVENT

PLANNER

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THE MARKET

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Resurgent

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RESURGENT

Value• US - $240 billion

- EIBTM 2014 trends report

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Budget• 48% increase / substantial

- SITE Foundation

• 47% increase - IRF Pulse Survey

• 92% (top 50 agencies) increase / substantial- C&IT UK

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Growing Sector• Just over 1m “business” visitors in 2013(200,000 C&M, Incentives?, Exhibitions?)

MICE• Meeting - €1150• Incentive - €1350• Conference - €1400• Exhibition - €550