SLCB research findings reveal more prospects for MICE

The Sri Lanka Convention Bureau recently announced the re-launch of the MICE Tourism Research Bulletin which has been compiled after lapse of almost six years. The latest findings will be made available to industry members on 20 July.

The initiative was taken in response to the high volume of information requests by Industry members seeking MICE tourism related data that would enable them to assess their market shares and competitive position in the industry.

The study findings confirm that as at end 2013 the Sri Lankan MICE Industry has progressed to become a $ 177 million (over $ 17 million over the estimate) industry with a high proportion of revenue being generated by international events, namely the incentives segment which contributes to approximately 63% of the total revenue. The total MICE arrivals including incentive travel has reached 134,488, an increase of over 1,000 arrivals than the initial calculation.

Determining exact outcomes of MICE tourism is a challenging task since MICE tourism information needs to be obtained from the industry unlike leisure tourism arrival figures which are available in the immigration arrival cards. World-over there is very limited research focusing on MICE tourism and we embarked on this study in 2014 with many hurdles.

 Difficulties in quantifying MICE tourism outcomes in terms of both value and volumes, is a global phenomenon and most convention bureaus are in the process of working on the methodologies towards quantifying the economic values as MICE is not a straightforward business, due to the different components/elements of MICE which call for different strategies.

The statistics produced are based on both primary and secondary data as well as the expertise of SLCB gained through a three-decade-long relationship with the MICE industry being the Government institution mandated to promote Sri Lanka as a venue for MICE.

This is yet another step taken by SLCB towards supporting the MICE business stakeholders. Being the first MICE research study to be conducted after several years in the Sri Lankan post-war era, it is a significant project, and one that would be the benchmark for future research. The study covered key performance indicators of the industry such as revenue generation, arrivals and qualitative insights towards the development of MICE tourism.

SLCB will be making a presentation on the findings of the research at an industry forum scheduled for Monday 20 July at 3 p.m. at the Hotel School Auditorium, Colombo 3.