Mice (meetings, incentives, conventions and exhibitions) operators are noting signs of a rebound from the international market following the country's reopening, with revenue from exhibitions this year expected to reach 60% of the pre-pandemic level in 2019.
Pravit Sribanditmongkol, president of the Thai Exhibition Association (TEA), said 90% of exhibitions, including postponed events, have resumed during the first six months this year, with gradual growth from international visitors and exhibitors.
The momentum will continue in the second half, which should raise the employment rate after half of exhibition-related workers were jobless during the peak of the Covid outbreak, said Mr Pravit.
He said organisers had to reduce the number of booths and budgets for booth construction by 15-20% to sustain themselves amid higher operation costs.
According to the Thailand Convention and Exhibition Bureau, the Mice industry generated about 560 billion baht in 2019, of which around 55% came from exhibitions.
"Exhibitions' revenue is estimated to recover to 60% of the 2019 level, driven by business-to-business events as many industries have to keep updated on new technology and stay in touch with business partners," Mr Pravit said.
Moreover, big events such as Motor Expo 2022 on Dec 1-12 are still on schedule, while the opening of the new Queen Sirikit National Convention Center in September will increase venue supply for more events in the country, he said.
In order to effectively attract the international market, the TEA hosted a roadshow in Singapore this week to bring local organisers to meet up with more than 20 Singaporean organisers and exhibitors.
Mr Pravit said the association also plans to invite exhibition operators from Southeast Asian countries, Japan, China, South Korea, Taiwan and India for a business matching event in Thailand around September.
Sumate Sudasna, president of the Thailand Incentive and Convention Association, said the Mice industry was the first to feel the impact of the outbreak and the last to recover.
But there is a positive sign on the horizon from the loosening of travel rules and mask mandates, he said.
Travellers from short-haul markets have started to travel to Thailand for incentive trips, including those from IT, pharmaceutical and multi-level marketing companies in Singapore, India and Australia.
"People need to travel for business continuation, despite the headwinds of inflation and surging airfares," Mr Sumate said.
The association participated in an international trade fair for events and incentives named IMEX Frankfurt 2022 from May 31-June 2.
The Latin American market has shown interest in organising incentive trips to major cities and beach destinations in Thailand, or combining trips with other countries, such as Singapore. Although the volume from Latin America is not huge, the market is a rising star with an average length of stay of more than a week, compared with 3-5 nights for the European market, he said.
