What to Expect from MICE Industry in 2017
For the last five years, the MICE industry has been focusing on two trends impacting meeting design strategy: the rise of event technology and the emergence of the millennial generation. However, it’s time for the MICE industry to move beyond its preoccupation with those themes.
The primary shift of the MICE industry in 2017 is about delivering business events that engage attendees in more multidisciplinary ways. Overall spend on events in 2017 will be similar to 2016, but overall activities, including number of meetings or number of attendees per meeting, may see a decline. With regards to MICE predictions in 2017, there are some key areas which should be paid attention to:
1. Merger and acquisition in the hotel industry
Hotel merger is a potential concern. While the good impact of these mergers will take a while to be fully understood and realized, decision makers of MICE need to prepare and plan ahead to navigate the MICE events and try to benefit from the changing supplier environment.
2. Convergence is the new innovation
It’s a good thing that business and creative industries focus on innovation, but it needs a shift in 2017. With technology impacting every industry, where everything and everyone is connected, there is a growing need to combine MICE speakers, experiences and content that may have previously been considered as something divergent.
3. The festivalization of MICE
The increasingly festivalization of MICE indicates the rise of convergence reshaping business event programming. What behind these hybrid festivals or events is generally the same. Pull together the most inspiring minds in business, technology, media, science, education, art, and culture. Moreover, gather them inside creative venues and collaborative spaces. Then hit “the blend” with integrated online and offline catalysts, VR/AR/AI platforms, startup pitch competitions, live music performances, tech-inspired art exhibits, and local offsite experiences to create spontaneous collisions between different people, ideas and brands in unprecedented ways. The shift towards the festivalization of MICE also includes the strategy of co-locating ancillary events before, during, and after large signature conventions.
Of course, technology continues to be a hot topic. It is also a key focus for MICE management, as organizations look to better utilize the data collected from their programs and try to know how they could use that data to make better program decisions. Others are implementing technology to quantify spending. Mobile apps not only help with higher engagement, but also are used as measurement tool, providing immediate feedback and deep post-event insight.
The strategic role that MICE plays in business of all sizes across all regions is still very significant. Along with this growing recognition of the value of MICE industry, we could also see more meeting compliance requirements and demonstrate the tremendous value meetings deliver. In an ever-globalizing world, face-to-face interactions continue to be the best way to make connections and get business done.
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