Published on : Wednesday, December 26, 2018
The islands more and more prolific MICE market almost doubled in year-on-year growth last year. As revenue for the segment increased from 5.9 billion baht to a record-high of 10.9 billion baht, the key metric that shows the financial impact is the average spend of 13,000 baht per person.
While considering the size of the market, the recent report from consulting group C9 Hotelworks Phuket MICE Market Update showed that for the full year, the island organized 660 events with close to 60,000 participants. With overseas demand becoming more and more prolific all through Thailand, the Top 3 international geographic source markets are Singapore, Mainland China and India.
Indian weddings are another prime feeder of business which attracted high-spending events from the subcontinent. In the last month, the island attracted two luxury weddings, with spending 320 million baht for each. One key catalyst that is anticipated to see this market grow is the uptick of direct flight introduction by GoAir between the resort destination and Mumbai, New Delhi and Bengaluru.
One niche that Phuket has become a best in class reputation and sustainable upward trajectory is in large sports events. This year the Laguna Phuket Marathon attracted around 8,000 participants while garnering considerable international visitors. Other marquee events include the Laguna Phuket Triathlon and Thailand Yacht Show and Rendezvous.
Accessing the significance of the meeting and incentive segment to island tourism, Phuket has proved triumphant in attracting high-yielding MICE business on substantially less volume than Thailand’s main event destinations of Bangkok, Chiang Mai and Pattaya.
Tags: Phuket tourism