The MICE India & Luxury Travel Congress (MILT 2013) has kicked off in Mumbai paving the way to highlight key Indian MICE trends. Key statistics state that the MICE (Meetings, Incentives, Conferences and Exhibitions) sector is poised for vigorous growth especially in the Indian market.
The event is geared to witness participation from over 200 Indian corporates, travel agencies, wedding planners, film production houses, DMCs, global luxury hotels and tourism boards
According to Karthik Ramamurthy, head AIM (Africa, India, Middle East), IPSOS Business Consulting: “There is a new found enthusiasm amongst Indians in the last decade to explore offshore destinations. This enthusiasm at a consumer level along with the emergence of Indian corporate with transnational operations has gradually spilled over to the MICE market. It is being seen that overseas events are becoming more acceptable.”
As per analysts, the key catalysts to emergence of new destinations has been Bollywood. In the short term, the industry anticipates a negative impact of the weakening economy and the Rupee. However, given the large headroom of the Indian market, this can be addressed with innovative marketing. In today’s world of steadily shrinking budgets and increasing financial scrutiny, there is also a growing awareness of the impact of corporate spending on MICE activities on the bottom line.
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