From the collaboration between TCEB and Thai Exhibition Association (TEA) in gathering opinions from MICE industry operators, "Thailand MICE Confidence Index" for Q3 2024. This key data serves as a tool for monitoring the situation and planning the future strategies to mobilize the MICE industry further.
📈 Confidence Index Results for Q3/2024, that stands at 97.75, reflecting that industry believe that the situation was slightly below expectations. This was due to global economic fluctuations, the stronger of Thai baht, and political uncertainties, (have) led to a slowdown in spending by international travelers, as well as domestic consumption, which has yet to fully recover.
📈 Forecast Confidence Index for Q4/2024, industry anticipate to rise to 117.98, indicating confidence in MICE business will recover and grow.
This is especially true with the promotion of Soft Power and Thai characteristics through large festivals and exhibitions, which are expected to attract more visitors and create added value for the country.
Key factors affecting the MICE industry
👉🏻 Economic uncertainty, which has led industry to be cautious with spending and event organizing (67.42%)
👉🏻 Political changes, affecting credibility in attracting investors and international travelers (53.93%)
👉🏻 Rising costs, requiring operators to adjust their investment and event planning strategies (51.69%)
Despite the challenges from external factors in Q3, MICE operators remain confident in the industry's potential for recovery in the next quarter. With the distinctive promotion of Soft Power and unique Thainess, we continue to hope for a brighter future and are ready to move forward together, driving Thailand's MICE industry toward sustainably growth.
#ThaiExhibitionAssociation #TEA #สมาคมการแสดงสินค้าไทย
#ThailandMICE #MICE2024 #Business #ConfidenceIndex #Economy
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