m.i.c.e. OPPORTUNITY
GTRH (Global Theme Park & Resort Holdings) founded in May 11, 2021. GTRH’s professional team members and partners are comprised of major banks, industry’s most experienced executives and engineers. GTRH’s objective is to network with America’s tier-1 & 2 global standard theme park brands to collaborate with GTRH Consortium to build a theme park and resort city.
WHAT IS THE IMPORTANCE OF M.I.C.E. INDUSTRY?
Apart from bringing industry counterparts together, M.I.C.E. tourism helps in synergizing ideas and increasing sales and revenues. Not only this, MICE industry is also a service industry, which encompasses transportation, sales, finance, and travel.
HOW MUCH IS THE M.I.C.E. INDUSTRY WORTH?
Aug 17, 2020 (Heraldkeepers) -- Global M.I.C.E. (Meetings, Incentives, Conferencing, Exhibitions) Market is valued at USD 882.84 Billion in 2018 and expected to reach USD 1546.69 Billion by 2025 with the CAGR of 12.46% over the forecast period.
WHAT IS THE M.I.C.E. SEGMENT?
M.I.C.E. is an acronym for the Meetings, Incentives, Conventions and Exhibitions tourism segment. This is therefore a business-oriented segment, involving obligatory (or non-discretionary) travel.
HOW DID M.I.C.E. INDUSTRY EVOLVE?
MEETINGS, INCENTIVES, CONVENTIONS AND EXHIBITIONS (M.I.C.E.) ... In recent years, the meetings, conventions, and incentive travel industry evolved into an even wider representation of several specialized sector of tourism to encompass exhibition and events.
WHAT ARE THE BENEFITS OF M.I.C.E.?
Developing M.I.C.E. can have great advantages for a destination, such as:
•stimulating the tourism economy, especially in low season,
•developing of better tourism infrastructure,
•increasing tourism expenditure, MICE travelers generally spend more money than leisure travelers, in less time.
WHAT ARE THE CHARACTERISTICS OF M.I.C.E.?
The M.I.C.E. industry shares several common characteristics with hospitality service sectors, such as inseparability of production and consumption, perishability, and seasonality.
WHAT MAKES A GOOD M.I.C.E. DESTINATION?
The unique attributes of a destination are the basis for competitive advantage. Country brand strength also appears as an important foundation for a successful M.I.C.E. destination, particularly in terms of political and economic stability as well as general attractiveness and capability as a tourism destination.
WHAT IS INCENTIVE PAY?
Incentive pay is financial reward for performance rather than pay for the number of hours worked. The idea is the prospect of financial compensation will motivate the employee to hit certain performance figures or financial targets.
