The transformative power of Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism in shaping the future of global business travel was a focal point at the 2024 World Travel & Tourism Council (WTTC) World Conference. Held on October 9th, the high-profile panel discussion titled “The Opportunity in Large Events” brought together some of the industry’s most influential voices to dissect the pivotal role of MICE tourism in driving economic impact, corporate strategies, and travel innovation.

A Strategic Force for Economic Growth

Dan Richards – Chief Executive Officer – Global Rescue.

Leading the conversation, Dan Richards, CEO of The Global Rescue Companies, underscored the strategic significance of MICE tourism. According to Richards, this segment represents a robust force in global business travel, not only as a conduit for networking and deal-making but also as a dynamic catalyst for local economies.

“Large-scale MICE events are more than just gatherings; they are powerful economic engines for host cities,” Richards stated. “From filling hotel rooms to energizing local restaurants and service providers, these events create a ripple effect that can uplift entire communities.”

Richards’ comments were echoed by fellow panellists, including Christie Travers-Smith, Head of Retail & Travel EMEA Partnerships for Google; Douglas Feagin, President of Ant International; and Bradley Woods, Chair of Business Events Perth. Together, they explored how MICE tourism supports cities’ hospitality sectors and contributes to long-term destination branding and investment.

MICE as a Corporate Strategy

One of the standout themes from the panel was the increasing integration of MICE events into broader corporate strategies. Richards highlighted how businesses leverage these gatherings to achieve multiple goals — from incentivizing top talent and rewarding high-performing distributors to forging deeper bonds with clients and stakeholders.

“MICE tourism is now a cornerstone of many companies’ growth strategies, serving as a platform for reinforcing corporate values and enhancing client relationships,” Richards said, emphasizing the dual role of these events in employee engagement and business development.

Managing Risks in a Complex World

With large-scale events comes the inevitable need for comprehensive travel risk management. Richards drew attention to the need for robust safety protocols, crisis management plans, and medical response strategies, especially as global business events grow in complexity and scale.

“It’s crucial for organizations to have a proactive approach to risk management to support, monitor, and respond swiftly to any security or medical incident that might arise,” he asserted.

Paving the Future of Business Travel

The session, moderated by Narelda Jacobs, Anchor of Network 10, served as a precursor to deeper conversations about the future of business travel. As the WTTC continues to highlight, MICE tourism is poised to be a transformative force, reshaping the travel industry and how businesses interact and grow in an increasingly interconnected world.

WTTC 2024: A Platform for Innovation

The 2024 WTTC World Conference remains a pivotal event for travel and tourism leaders, providing a global platform to address pressing challenges and pioneer innovative solutions. This year’s emphasis on MICE tourism solidifies its relevance in defining the next chapter of business travel.

For more information on MICE tourism’s transformative power and business travel’s future, visit the official WTTC website, which provides full event coverage and insights.

Written by: Michelle Warner

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