Meeting, Incentive, Convention, and Exhibition (MICE) Industry: Analysis & Investment Opportunities Department of Investment Services, Ministry of Economic Affairs Table of Contents I. (I) (II) II. (I) Global Trends in MICE Industry Development .................... 1 A 21st Century Goldmine................................................................1 The Asian MICE Industry Boom ...................................................2 The Status of MICE Industry Development in Taiwan ........ 5 Supply & Demand..........................................................................5 (II) An Analysis of Existing Gaps in the Industry Supply Chain, Investment Niches, and Prospective Foreign Investors................7 (III) Major …show more content…
This is particularly evident in Asia, where exhibition space is expected to grow to 4.6 million m2 by 2010—a 20% increase on 2006. UFI points out in its June 2007 report—“The Trade Fair Industry in Asia - 3rd Edition” —that, spurred by the momentum of production relocation to Asia from the rest of the world, the Asian MICE industry made over US$2.4 billion in revenues in 2006. There was a 7.6% growth in the quantity of exhibitions and a 17.4% growth in available floor space. China, Hong Kong, India, Taiwan, and Thailand demonstrated the most remarkable growth in both respects. Analysis of International Exhibitions Held in Asia 2 Anticipated No. of Exhibitions Held Country 2006 China Japan India South Korea Hong Kong Thailand Taiwan Singapore The Philippines Malaysia Vietnam Indonesia Pakistan Total 587 475 158 140 82 69 60 59 59 57 56 54 32 1,888 2005 564 473 128 139 56 57 58 52 62 52 41 56 17 1,755 Year-onyear Difference 4.1% 5,089,000 4,065,000 0.4% 2,174,000 2,273,000 23.4% 0.7% 46.4% 21.1% 3.4% 13.5% -4.8% 9.6% 36.6% -3.6% 88.2% 526,000 528,000 776,000 381,000 410,000 202,000 114,000 246,000 109,000 170,000 62,000 462,000 522,000 501,000 274,000 329,000 175,000 125,000 166,000 62,000 192,000 41,000 2006 2005 Total Floor
Political conferences are party political conferences which are held every year for a general meeting of a political party. The conferences are attended by certain delegates who represent the party membership. In most political parties, the party conference is the highest decision-making body of the organisation, tasked with electing or nominating the party's leaders or leadership bodies. Popular venues which are hired for political conferences include Brighton, Blackpool or Bournemouth which mainly rely on conference business outside the summer holiday season so such conferences provide significant revenue.
From Exhibit 4 we see an average increase in sq. footage of 26% per year for period 1986 – 2000 while average sales growth fall from an
Some analyzers are predicting that attendance at the high point market, running through wednesday will lose 20%of their buyers. Many of which have multi million dollar budgets. Having a huge impact with the furniture market being the largest economic event each year. Having 75,000 people attending twice a year, and a annual economic impact of $5 billion. Tom Stringer, managing director for the site
Today’s world is facing strong influence of globalization in each and every aspect of our lives. It is expressed through: free trade agreements, foreign direct investments, international trade, facilitated movement of labour, capital and resources, as well as a strong competition that eventually gives more power to customers. In addition, it resulted in the economic boom of the developing countries, with substantial dominance of China that mainly benefit from their massive labour force, its low cost and high comparative efficiency. This phenomenon has impacted all industries around the world. In particular, furniture production is going through a trend of moving to China that “in 2002
Industry Growth………………………………………….10 Concentration………………………………………….….10 Differentiation and Switching costs……………………13 Scale Economies and Fixed/Variable Costs…………..13 Excess Capacity and Exit Barriers………………………14
This case analysis explores the possibility of Breezy, a leading supplier of carburators and air filters in North America, the possibility of developing offshore busines in countries where car manufacturing is growing. The report is structured as follows: First, there are five important questions that Breezy must consider and ask itself before developing a relationship with a new customer. After Breezy decides to go offshore, it will have to go through the negotiating process, which involves five steps. Breezy then, must have capabilities of how an offshore business is organized, consider the many different costs and risks involved in the implementation and decide how it will finance the project. The report also talks
As well as providing opportunities to increase direct expenditure at a destination, they can also contribute substantially to a destination’s range of tourist attractions, facilitate media coverage for the destination, promote awareness of the destination for future visitation and lead to the construction of new facilities and infrastructure. The prominence given to special events by governments and tourism marketing organisations has resulted in some destinations seeking to specialise in the creation and hosting of special events. There is also a trend towards the construction of ‘mega-venues’ catering for conventions, trade shows, art and sporting events.
Tourism plays a vital role in economic development in most countries around the world. The industry has not only direct economic impact, but also significant indirect and influential impacts. There is agreement among experts that the travel and tourism sector is the fastest growing of global economy. According to the latest UNWTO World Tourism Barometer, international tourism receipts surpass US$ 1 trillion in 2011, growing about 3.8%up from 2010 (WTO, 2012).
The U.S. trade show circuit requires substantial overhead. The fixed cost of purchasing and regularly shipping of the booth, travel, promotional materials, and registration would be $94,300. Dividing that overall fixed cost by our contribution margin per order via trade shows gives us our breakeven order number of 313 orders.
|the industry and its challenges it is important to understand its various phases of growth so far. |
Northern Alberta, the oil sands development area surrounding Fort McMurray, is the fastest growing economic area in Canada for several years. Obviously Bolster’s total market share in this area was the highest with one third of the total market share it held national wide. Vickers based in Edmonton, Alberta covered 50% of the local market share and 75% of servicing in that area in spite having a national distributor, National Electronics (National). Also local firms preferred to do business with Vickers than National which has their nearest warehouse in Calgary, Sothern Alberta around 750 Km from Fort McMurray. (Exhibit 1)
Just like the other industries such as apparel, electronics, and consumer goods, the automobile industry has accelerated its foreign direct investment, cross border trade and global production. The automobile industry has increased outsourcing and bundled value chain activities in major supplier chains. As a result, more developed countries that serve as suppliers have increased their involvement in trade and FDI. With these increased supplier capabilities, large national suppliers have become global suppliers and are now controlling multinational operations. This is because of their increased capability of providing good and services to various lead firms all over the world. The automotive industry has a distinct firm structure. This
With China emerging as a global power in business within the last decade, knowing about doing business in China has become more important than ever. There are both many advantanges and challenges with doing business in China in this modern era, and understanding both sides of this coin is the key to being successful in China. Some aspects to keep in mind include the cultural barrier, the price of the work force in China compared to the United States, and have the “made in China” brand be accepted back in the United States.
The United States Automotive industry has been dominated by five major auto manufacturers: GM, Toyota, Ford, Chrysler, and Honda. As globalization increases the domestic automotive market (GM, Ford, Chrysler) suffers from foreign competitors. Although with high entrance barriers the market suffers little to none from new entries. There are several reasons for this the largest being capital. It takes a lot of capital to obtain manufacturing plants, raw materials, as well as to hire and train employees. PASTEL Analysis
The Sydney Convention and Exhibition Centre (SCEC) is the largest conference centre in Australia and is best-equipped to satisfy the requirements for the IFLA 2015 international conference. With experienced professional teams dedicated to serving clients, SCEC possesses state-of-the art facilities and infrastructure with a scenic view of the bustling Sydney harbor. SCEC would be honored to host the first international conference of IFLA in the Australasia region. SCEC appreciates the interest of IFLA to explore venues beyond Europe and North America. Since IFLA is organizing the 2013 conference in Singapore, this may be a good opportunity to enter the Australasia region which has approximately the equal share as Asia of the geographical spread of IFLA delegates (IFLA, 2011).