Personal encounters are important - but the MICE industry is facing challenges

The MICE industry (Meetings, Incentives, Conventions and Exhibitions) is anticipating rising turnover and better business in the coming months. That was the result of the latest quarterly Meeting Outlook, which Federico Toja from MPI (Meeting Professionals International) presented at the ITB Berlin Convention on Tuesday. According to Toja, 71 per cent of all industry representatives polled currently expected business to improve. Overall, according to the survey findings, the MICE market was currently primarily a seller's market in which event and conference venue providers controlled business, even if the situation was now improving. While there was talk of Zoom fatigue in many places, 76 per cent of those surveyed believed that face-to-face meetings would become more important in the near future.

Rising budgets - but costs as well

66 per cent of all respondents said that their budgets for the MICE sector will increase, but this is partly due to rising costs that affect all areas of the value chain - from travel and catering costs to hall and room rental, event technology and personnel. According to Federico Toja, uncertainty about future cost trends is a problem that is currently keeping many MICE planners awake at night.

Constant focus on safety

In addition, more than half of all event planners were extremely concerned with the security aspect of their event - this included fear of natural disasters as well as concerns about cyberattacks and hacking.