Which Countries Are Investing the Most in Business Events?

 

Business events are an ever bigger part of the global economic and tourism scene. Meetings, incentives, conferences and exhibitions are no longer seen as just a way of attracting business travellers to a destination for a few days. They generate demand for hotels, airlines, restaurants, transportation, entertainment, venues and local services, and opportunities for networking, investment, knowledge transfer and international trade.

Hence countries are pouring in investments to become a preferred destination for the global MICE industry. It's no longer a contest of just having a large convention center or luxury hotels. Destinations are developing connectivity, infrastructure, technology, sustainability, hospitality and experiences that can help make international business events easier and more valuable for organisers and delegates.

Many countries have become strong players in the sector.

United Arab Emirates: Creating a World Business Events Hub

Dubai and Abu Dhabi are leading the growth of the United Arab Emirates as a top international business events destination. The country has invested heavily in airports, hotels, convention facilities, transportation, entertainment and tourism infrastructure, helping it build an ecosystem geared toward international visitors.

Dubai’s global air connectivity is one of its biggest strengths. Its location makes it relatively easy for businesses from Europe, Asia, Africa and beyond to connect and is why it is especially popular for international conferences, exhibitions and incentive programs.

But the country’s investment is not limited to physical infrastructure. The UAE has established a solid reputation for business, innovation, technology, luxury hospitality and international trade. The combination gives event organisers the opportunity to provide delegates with a productive business environment and an attractive destination experience.

Singapore: Investment in efficiency and innovation

Singapore has adopted a different but equally effective approach to be a major business-events destination. Its strength lies in the country’s ability to combine sophisticated infrastructure with efficiency, connectivity and a highly developed business environment.

The convention and exhibition facilities are complemented by excellent public transport, international hotels, digital connectivity and a mature events ecosystem. This level of infrastructure makes the logistics easier and is more accommodating to large scale event planners working with international groups.

Sustainability and technology are also becoming more prominent in Singapore’s business-events strategy.

Companies are more interested in responsible events, carbon reduction and digital experiences, and destinations that can show progress in these areas are becoming more competitive.

Saudi Arabia: An Emerging Booming Market

Saudi Arabia is rapidly emerging as one of the most important new markets in the global MICE landscape. As part of the country’s wider economic transformation, significant investment has been made in tourism, hospitality, entertainment, infrastructure and international business.

Riyadh, in particular, is gaining importance as a destination for conferences, exhibitions and corporate events. New hotels, venues and entertainment developments and supporting infrastructure are enhancing the country’s ability to accommodate international groups.

Saudi Arabia is particularly interesting because of the scale and speed of development . The country is not only meeting the current demand for business events, but is also proactively developing the infrastructure and destination proposition to attract new international events.

This is a huge change for the MICE industry of the world. One market with limited international profile is fast becoming part of the conversation on future business-event destinations.

Germany: Industry Driven Events

Germany has a long history in international exhibition and trade fair business. In cities such as Frankfurt, Berlin, Munich, Cologne and Dusseldorf, major exhibitions, conferences and business meetings have been able to develop sophisticated infrastructure.

‘One of Germany's greatest strengths is the relationship between its business events and industrial base. Its major shows are often associated with industries including automotive, manufacturing, technology, healthcare, engineering and finance.

Events are connected with industry. Exhibitions are where customers, suppliers, competitors and industry leaders go and businesses go to meet them. The act of hosting the exhibitions itself creates significant economic activity for a destination.

Germany proves that investment in business events does not have to start off with tourism. An active economic and industrial ecosystem can itself be a strong basis for MICE growth.

China: Scale & Infrastructure

China is a major player in the global business-events industry, with the strength of its massive domestic market, significant infrastructure and its position as a global hub for manufacturing, technology and trade.

Major cities like Shanghai, Beijing, Shenzhen and Guangzhou have built large convention and exhibition centers, modern hotels, transport networks and event services.

And its strength is China's size. The country is equipped to host anything from highly specialised industry conferences to large international exhibitions with thousands of participants.

Business events are closely connected with the wider commercial ecosystem of the country. For example international exhibitions are an opportunity for companies to meet suppliers, customers, investors and partners. So they are an important part of international business activity.

The United States: a mature and diverse market

The US continues to be one of the world’s largest markets for business events. With its vast network of convention centers, hotels, airports, transport systems and specialist event suppliers it can host a wide range of corporate events.

Las Vegas, Orlando, Chicago, New York and Miami have all developed unique identities within the MICE industry. Some specialise in large conventions and exhibitions; some mix business events with entertainment, luxury hospitality or incentive travel.

The country also has a large domestic corporate market. US destinations do not depend on international delegates either. Domestic companies year round there is a big demand for conferences, conventions, corporate meetings and incentive programs.

For the US, the strength in the global business events arena lies in this mix of infrastructure, market size and destination diversity.

AUSTRALIA - Experience Business with

Australia has also boosted its profile as a venue for international business events. Sydney, Melbourne and Brisbane have world-class event infrastructure, and strong tourism and cultural experiences.

This is especially useful for incentive trips. Companies aren’t just looking for a place to do business; they’re looking for destinations that provide memorable experiences for employees, clients and partners.

Australia’s natural landscapes, food culture, hospitality and leisure experiences therefore complement its conference and exhibition infrastructure .

It’s part of a growing principle in MICE that the destination experience can be as important as the event location.

What are countries actually spending money on?

The countries that do business events best aren’t just investing in convention centers. They are investing in the complete destination ecosystems.

The overall proposition includes air links, hotel capacity, transportation, technology, sustainability, entertainment, hotel staff and destination marketing. A business-event planner has to ensure every aspect of the delegate journey can be managed smoothly.

There is also a broader economic rationale for governments to invest in MICE. Business travellers spend in many sectors and international conferences and exhibitions can create opportunities for local companies to meet global business.

Thus, a successful event can have an impact which lasts long after the program has ended.

The Global Future of Business Events

The next level of competition for the MICE industry will not be about which country has the biggest venue but which destination can create the best overall business environment.

The pressure on events to deliver seamless logistics, reliable infrastructure, meaningful experiences, sustainability and measurable value is growing for more and more companies. Destinations able to bring all these elements together will be better placed to attract repeat business.

But in the end, putting your money into business events is putting your money into far more than tourism. It is an investment in business relations, international visibility, economic activity and the destination's long term growth.

What the countries leading this space understand is that when people come together for business, the destination is part of the experience, and the right destination can turn a successful event into a long-term business opportunity.