How Do MICE Events Virtually Evolve?

 

According to the statistics available, it is demonstrated that the MICE industry was worth $805 billion in the year 2017 and it is expected to grow to $1.44 trillion by the end of the year 2025. COVID- pandemic disrupted things significantly, however, recovery is still expected and the industry will work in virtual events and adapt. MICE event include the research and economic drivers along with the global magnets

The Singapore Workforce Skills Qualification is recognized as the national credential system that is responsible to develop, train, assess, and validate skills and competencies for the workforce. As a continuous education and training, WSQ supports the skills future movement. Each part of the MICE acronym serves its particular purpose or goal.

Ø  Meeting travel

According to the International Association of professional congress organizers, a meeting is defined as the number of an individual coming together in a particular location for specific activities that can either be a one-time event or can take place at regular intervals.

It incorporates both academic meetings and events. When dealing with a big corporation that has branches globally, coordination of such meetings is a big endeavor that takes months of planning.

Ø  Incentive travel

Incentive travel is provided to working staff as a form of reward that is not profit, instead, appreciation is given for good performance. HR and management of the company considered such rewards will help to boost employee confidence and improve the relationship with the team which ultimately helps to enhance the productivity level. The big MICE events Singapore Directory, for instance, lists gym center weekends at local spots gateway to Indonesia. 

Ø  Conference travel

Conferences demonstrated large gatherings of people at a particular place; however, they are generally big networks of gatherings and include clear themes and objectives. The main aim of such conferences is information exchange. The conference travel incorporates an insight level of managing, including meetings, itineraries, and events of those who are participating. Some of the Key examples of conferences specifically for the MICE market include:

·         Caribbean Meeting & Incentive Travel Exchange 

·         Global Meeting & Incentive Travel Exchange 

·         Annual Singapore MICE Forum (SMF)

It is demonstrated that during the period of the pandemic, several conferences have been shifted to the virtual version to follow the guidelines and norms. Some of the popular examples of the conference are World Economic Forum and South by Southwest Music.

Ø  Exhibition travel

It is significant to understand that exhibitions can also be a part of meetings and conferences. During exhibitions, it is demonstrated that businesses show their products and service generally on a particular theme.

They seem to be the sign for the client acquisition and confirming them with the new launch product. Exhibitions probably took place in technology and art however they are not limited to such fields.

Work Related Events and MICE events Production in Singapore is underpinned by the powerful quality assurance framework from developing technical skills and competencies and critical core skills. It can be said that a structured and effective system has been formed to create a strong training infrastructure that assists Singapore's workforce development.