Meetings, Incentives, Conferences, and EXhibition(MICE) Explained

meetings, incentives, conferences and exhibitions
May 24, 2023

If you are not an expert in the event, travel, and tourism industry and you hear about the word MICE or mice, to you it may mean an animal(mice) but if you are a professional or an expert in the travel and tourism or event industry, you may be familiar with the word MICE or mice. Let’s take a close look at MICE and mice

MICE or mice depending on the context in which it is being used may have two meanings.

“mice” refer to rodent animal.

“MICE” in capital letters is an acronym for Meetings, Incentives, Conferences, and Exhibition.

What is MICE?

MICE stands for Meetings, Incentives, Conferences, and Exhibitions

MICE, which stands for Meetings, Incentives, Conferences, and Exhibitions, is a highly profitable component of the global travel & tourism and event industry. It is also commonly known as Business Tourism or Business Events. The MICE market refers to a specialized niche of group tourism or events dedicated to planning, booking, and facilitating conferences, seminars, and other events, which is a big moneymaker in the travel industry.

The acronym has slowly been falling out of favor in recent years, as some industry professionals hope to move away from the affiliation with rodents. Instead, many now refer to this niche market as the meetings industry or events industry.

However, using MICE to refer to this industry is useful in that it encompasses every component of this particular travel market. Whether you’re looking to organize a group outing for your company’s employees (incentive) or you want to organize a big event focused on the latest innovations in your field (conference), in Ghana, Miafrica MICE experts based in Ghana and other parts of Africa can help you.

MICE involves a number of components, and experts or people working in this field must provide a full range of travel and conference services for large and small groups and events of shorter and longer duration.

Personnel and businesses involved in the MICE market include corporate meeting planners, meetings and convention departments of hotels, conference centers or cruise ships, food and beverage managers, logistics firms, private tour operators & transfer companies, incentive houses, professional trade organizations, tourism boards, tourism trade associationstravel-selling professionals, DMC’s and many more.

Because the organization and planning of MICE involved, typically, years in advance, MICE travel agencies are usually affiliated with large corporations. Destinations often market themselves as MICE locations and bid for events through their convention and visitor bureaus. They might be able to offer subsidies to attract large events because of the increased revenue the visitors provide through their economic impact on the host location.

Meetings, Incentives, Conferences, and Exhibitions Explained

Meetings

The International Association of Professional Congress Organizers defines a meeting as any number of people coming together in one place for a particular activity, which can be a one-time event or recur regularly. Simply put, meetings refer to organizing any number of people for such a meeting, which means it could also include a company sporting trip. All meetings are events but not all events are meetings

Conferences

On the other hand, a conference is similar to a meeting in that it is a gathering of people coming together in one place, but conferences usually have specific objectives and exchanges of information. Therefore, conferences involve organizing itineraries, meetings, and events for people from the same profession or field.

Incentives

Incentive travel may be one of the harder components of MICE travel to understand since it doesn’t necessarily deal with group events. Instead, incentive travel is typically given to employees as a reward. Incentive travel doesn’t usually have a business or explicit educational component but instead is more of a non-business vacation with the aim of continued motivation for performance.

Exhibitions

At an exhibition, products or services are displayed, and they might be the primary focus of the event, which means that exhibition travel agents are those who organize such showcases. Exhibitions are often included in other conferences and meetings, though, meaning that there is often overlap between agents in these industries. Businesses court new clients and debut their latest offerings at these events.

What is The Estimation Value of The MICE Industry

The meeting, Incentive, Convention, and Exhibition (MICE) industry had a global revenue of $752 billion in 2016 and is projected to reach $1,439.3 billion by 2025. Numerous cities worldwide strategically position themselves as MICE destinations within their respective regions, attracting millions of business visitors annually. Seoul, South Korea, exemplifies this trend, having hosted 526 meetings in 2016, a 4.97% increase from 494 in 2015. As per the International Meetings Statistics Report by the Union of International Associations (UIA), Seoul ranks as the third-leading MICE city globally. Unfortunately, African cities capture only about 2% of the MICE industry’s immense $7 trillion value. Nevertheless, Cape Town, Nairobi, Rabat, Cairo, and Kigali emerge as the preferred MICE destinations in Africa. Read MICE Industry Projection – 2025

What Does Ghana Offer The MICE Industry?

Ghana will invest $25 million this year to upgrade its iconic tourist sites to give impetus to a new project that aims to attract one million visitors a year from Europe by 2024, dubbed ‘Destination Ghana,’ Joy FM reported.

The West African nation will rehabilitate the famous Elmina and Cape Coast Castles, the Kwame Nkrumah Memorial Park, the Mole and Kakum National Parks and cultural museums in the Northern, Ashanti, Eastern and Volta regions, the Accra-based radio broadcaster said, citing President Nana Akufo-Addo.

Ho, the capital of the Volta region of Ghana is strategically placed to become Ghana’s preferred MICE destination.

Know Some Terms in The MICE Event Industry

  1. Keynote Speaker: A prominent or influential speaker who delivers a keynote address at the event, usually setting the tone and theme for the conference.
  2. Breakout Session: A smaller group session or workshop within a larger event where participants can explore specific topics in-depth or engage in interactive discussions.
  3. Plenary Session: A session in which all attendees gather together for a common agenda, such as an opening session, closing session, or a major presentation.
  4. Networking: The process of making connections and building relationships with other professionals or attendees during an event, often facilitated through dedicated networking sessions or activities.
  5. Exhibit Hall: An area within the event venue where companies or organizations set up booths or stands to showcase their products, services, or innovations to attendees.
  6. Trade Show: An exhibition focused on showcasing products, services, and industry trends, where businesses interact with potential buyers, partners, and customers.
  7. Sponsorship: The financial support provided by companies or organizations to an event in exchange for brand exposure, marketing opportunities, or other benefits.
  8. Gala Dinner: A formal or celebratory dinner typically held during an event, featuring entertainment, speeches, and networking opportunities.
  9. Team-building Activities: Group activities designed to enhance teamwork, collaboration, and communication among participants, often incorporating challenges, games, or problem-solving exercises.
  10. Pre-event and Post-event Surveys: Surveys distributed to attendees before and after the event to gather feedback, evaluate satisfaction levels, and identify areas for improvement.
  11. Delegate: An individual who attends and represents an organization or group at a conference, meeting, or other MICE events.
  12. Event App: A mobile application developed specifically for the event, providing attendees with access to the agenda, speaker information, networking features, maps, and other relevant event details.
  13. DMC: Destination Management Company A professional services company, possessing extensive local knowledge, expertise and resources, specializing in the design and implementation of events, activities, tours, transportation and programme logistics.
  14. PCO: Professional Conference Organiser. This is a company that specialises in the management of conferences. The company acts as a consultant to the organising committee or headquarters organisation, enacting its decisions and assisting to fulfill its objectives, whilst utilising the experience and knowledge it has gained over many years in organising events.
  15. RFP: RFP stands for “Request for Proposal”. It is a  document that a buyer sends to the destination suppliers when requesting their proposal for future services. It can come directly to a DMC or a hotel.

Read also

Travel Bag Cover

Travel Bag cover

Related Posts

Related Posts

0 Comments

Submit a Comment

WIN A HOTEL NIGHT STAY FOR TWO