Kwiatkowski, G., Diedering, M., & Oklevik, O. 16th Dec 2019 The same is true for the number of foreign attendees of MICE of Korea, the number of MICE of Korea, and the expenditure of a foreign attendee of MICE of Korea. In addition, this study showed that the average of the output, value-added, income, employment, and tax multipliers for the convention industries was higher than the average of other industries. Each one of these agents need to be in mind when planning incentive trips. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of NursingAnswers.net.

The literature review consists of three parts; the importance of the MICE industry, indicators to represent the MICE industry, and economic model and strategies for the MICE industry. They’re all strongly related to business travel. After all, what could be better for our ego than finding people who think like us? Table 8-1. Kenya’s MICE tourism segment on the rise. In order to accurately understand the impact of the MICE industry on overseas tourism income, it is essential to control the impact of overseas general tourists on overseas tourism income because the impact of overseas general tourists on overseas tourism income can be quite substantial.

Depending on the duration of the crisis, revised scenarios indicate that the potential shock could range between a 60-80% decline in the international tourism economy in 2020.

The study concluded that all visitors to conferences and conventions spent $114.53 per activity day as well as non-residents spending 85% more than residents. Therefore, it is meaningful to analyze empirically whether the MICE industry has a statistically significant impact on overseas tourism income when economic impact from general tourists is removed. Also, subjects are all between 696.4 (the minimum) and 1,781 (the maximum) million dollars. Third, the public investment required to host conventions and events should not be included as economic benefit to prevent a significant overestimation in result.
International Journal of Tourism Research, 11(3): 311–318. Retrieved from https://kto.visitkorea.or.kr/kor/notice/data/statis/profit.kto. Reason for importance.Most literatures pointed out that the MICE industry is growing rapidly and profitable. Their psychological psyche makes MICE industry a perfect place to continue to grow personally and professionally,” she continues. The total expenditure was approximately US$684.7 million constituted 0.0953% of the Korean gross domestic product in 2004. Thus, MICE events are considered one of the main solutions for the seasonality of destinations.

For example, the MICE industry is a vital part of the tourism industry within the Auckland, New Zealand because MICE attendees are recognized as a highly beneficial industry with small negative environmental and socio-cultural impact (Locke, 2010). Regarding the second research question, some indicators that can represent the MICE industry were identified in literature review, and these indicators will be analyzed if they have a significant relationship with the increase or decrease of overseas tourism income.
Marketer, Growth Specialist, Content Strategist | Content Marketing Global at InEvent | Regularly writing about digital transformation, innovation, branding, business, trends, consumer insights, tech and travels. The control variable is the number of overseas general tourists of Korea and expressed in numbers. According to the 2015 Convention Competition Survey, the first reason for selecting the venue for international conferences is the support from the government or organizations and the second one is the attractiveness of the venue (Ministry of Culture, Sports and Tourism of Korea, 2017).

According to Policies for the MICE industry announced by the Ministry of Culture, Sports and Tourism in 2017, the Ministry of Culture, Sports and Tourism of Korea will continue to strengthen collaboration with global MICE specialist organizations, expand the support for attracting important MICE events, and pursue specialized marketing that matches the characteristics of each international market of MICE (Ministry of Culture, Sports and Tourism of Korea, 2017). Copyright © 2003 - 2020 - All Answers Ltd is a company registered in England and Wales. Also, regarding the control variable, the mean monthly number of overseas general tourists of Korea is 958,222 with a standard deviation of 236,419. Therefore, the number of attendees can be considered as one of the main indicators of the MICE industry. In addition, the expenditure of the non-local visitors to the events was considered as important factors to local benefits because non-local visitors are twice as beneficial for the host destination as residents who attend the local events because this group spends more and their expenditures cause a gain to the local economy (Kwiatkowski, Diedering & Oklevik, 2018). Also, tourism expenditure accounted for 10% of GDP and 9% of all employment in Auckland in 2007 (Locke, 2010). It is continuously cited in the 1st  position of Meeting City ranking of Union of International Associations (UIA). Number of the MICE has been used as an indispensable indicator in many literatures.