SL Convention Bureau aims for $ 550 m earnings from MICE in 2024

Tuesday, 20 February 2024 01:58 - - {{hitsCtrl.values.hits}}

SLCB Chairman Thisum Jayasuriya affirms Sri Lanka surpassed MICE tourism earnings target of $ 300 m in 2023
Aspires to achieve $ 1.36 b in earnings from MICE tourism and attract 10% of total arrivals by 2026
Outlines plan to develop MICE tourism via three year blueprint aligned with 10 year Tourism Master Plan
Highlights challenges in capturing accurate data

Sri Lanka Convention Bureau (SLCB) is stepping up its efforts to establish the country as a year round destination, with a particular focus on boosting arrivals and earnings from the Meetings, Incentives, Conferences, and Exhibitions (MICE) segment to over $ 550 million by the end of 2024.

“We aim to develop a comprehensive 2024-2026 MICE tourism blueprint that aligns with the 10 year Tourism Master Plan, leading up to 2035. The objective is to boost revenue generation from this lucrative segment,” SLCB Chairman Thisum Jayasuriya told the Daily FT. According to him, Sri Lanka has earned beyond the targeted budget of $ 300 million last year.

“We earned over

$ 280 million. However, there’s no way to capture the actual amount as some of the MICE groups do not fill out the visa application properly. They sometimes travel as visitors,” he said.

Looking ahead, Jayasuriya said SLCB aspires to achieve $ 1.36 billion in earnings and attract 10% of total arrivals through MICE tourism by 2026.

The bureau’s bold vision for 2026 includes generating 20% of tourist arrivals through MICE activities, projecting an 11% increase in MICE arrivals from 2023.

“MICE travellers spend three times more than leisure and other tourist segments,” he added.

MICE tourism, being a key segment for boosting both arrivals and earnings, is currently enjoying equivalent visa rates to Free Independent Travellers (FIT), with business visas being marginally more expensive.

With direct air connectivity, Jayasuriya emphasised the importance of countries like China, India, UK and Middle Eastern nations as key markets for MICE events.

(CdeS)