Global Partners attending the MICE India and Luxury Travel Congress (MILT Congress) stress on the growing importance of the Indian MICE and Luxury Traveller
The UNWTO predicts that India will account for 50 million outbound tourists by 2020. With more than 1.2 billion inhabitants and an increasing GDP, India is one of the fastest growing outbound travel markets in the world.
The MICE, Business & Luxury travel segment in India has emerged as a sort of a "Dark Horse" in the past few years.
Being the third fastest growing global economy and its increasing dominance in international trade has compelled many international suppliers and foreign Tourism Boards to have a focused strategy for the Indian outbound MICE segment.
According to Mischa Mannix-Opie, Regional Manager South and South East Asia, Tourism New Zealand. "Tourism New Zealand views India market as a priority emerging market and we have secured additional funding to increase our marketing efforts in India market in the next three years. The MICE sector will be a key focus in our new marketing plan. We currently host many Indian incentive groups annually. As we build our profile in the sector we look forward to hosting more India incentive groups in 100% Pure New Zealand,"
India's outbound travel market is recognized as one of the key emerging sources of tourism for the world. Keeping this potential in mind, ITL World is ready to cater to this enterprising emerging MICE market by partnering with the MICE India & Luxury Travel Congress 2013 to cater to the needs of Indian corporate & business travel buyers.
"ITL world is proud to be in alliance with MICE India and Luxury Congress 2013, one of the most dynamic business focused congress today. This is more than just a great platform for us to showcase our unique MICE solutions to the Indian market. ITL world having originated from India, gives us an edge over our competitors." notes Mr. Rafeeq Mohammed, Regional Head GCC, ITL World.
Many countries are assessing their relationships with India and are attempting to best position themselves to develop economic, cultural, or political opportunities.
Indian outbound MICE market was estimated to be around US$ 550-600 Million in 2011. It grew strongly and resulted in an outbound trip volume of 6.2 Million, with around 1.5-1.8 Million Indians travelling outbound only for MICE. Industry verticals like Pharmaceutical, Cement, FMCG, IT and Financial services are the major contributors to the Indian outbound MICE sector.
As international competition for India's attention intensifies, destinations eager to showcase their MICE solutions must draw India's gaze.
Several destinations are formulating Indian centric policy to tap the growing potential of Indian MICE market.
According to GB Srithar, Area Director, South Asia for Singapore Tourism Board, "Singapore continues to receive many international accolades as a MICE destination, including recognition as the top International Meeting City for the 6th consecutive year (Union of International Associations Global Rankings of 2012). In India, it has established itself as a top-of-mind destination for meetings and incentive travel among the Indian corporates."
It is not that only Asian countries are upbeat about Indian MICE market. Countries from Europe are equally focused on the Indian MICE market.
Portugal also has recently entered India with a clear focus on tapping the MICE & Business travelers. Vega DMC, one of the key travel agents in Portugal along with their partners, Myriad Hotels have the following thing to say about this exotic land. "Portugal, a destination with a growing popularity due to its great weather, beautiful landscape, excellent food, and friendly people. The destination offers a perfect mixture of ancient history and stunningly modern infrastructures that will amaze all. When visiting Portugal you may experience culture, shop in some of the best malls in Europe, and wind-down in our fantastic seafront restaurants."
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