The MICE industry !
In my previous post I gave you a little introduction about our company and a slight insight about the MICE industry and what MICE stands for. But one of the frequently asked questions is “what are the benefits of the MICE industry and why is it any different than traditional tourism?”
We will be answering that question today and also be telling you about the various significant benefits about the industry one day at a time.
Today let’s talk about how MICE industry helps stimulate the economy and help the country. The MICE industry has a “Positive side-effect” or a “Multiplier effect” on a country’s economy.
MICE attendees/tourists pay two times more than what a traditional tourist pays and that increases the revenue of the destination. The reason as to why a MICE tourist pays more is because his basic requirements like accommodation, travel and food etc. are already paid for by his company. This means the MICE tourist has his personal money he would not a have a problem spending which in turn helps the professionals such as taxi drivers, local vendors, small business owners, local restaurant owners etc. earn more because the MICE attendee would want to explore and feel the raw essence of the country. This also creates an opportunity for him to maybe extend his stay or visit the destination again with his family or friends.
This is just one of the many benefits about which we will be learning.