Did you know that the MICE industry business is expected to be worth $1.78 billion (USD) by 2030? The future of MICE is rapidly growing and evolving, and we can expect many changes in the upcoming years.
Even by 2024, we’ll see some exciting trends and shifts in the industry. Here’s a crisp rundown of what to focus on in the MICE industry for the next year.
- Shifts in sustainability and social responsibility
A 2020 survey found that 85% of respondents prefer attending conferences with sustainable practices. Think digital brochures, green venues, and waste-reducing measures. Now it’s not just about planning events but helping preserve the planet.
- More personalisation: Your event, your way
Thanks to the AI boom, data analytics are set to help tailor events like never before. From custom agendas to AI-assisted networking, technology will be able to help offer each event or meeting attendee a unique experience that feels like it was crafted just for them.
Personal touches make all the difference. Attendees don’t just want to be another face in the crowd. Using data-driven insights, event planners will curate customisable experiences for every individual, making each interaction memorable.
Relatively recent, movements such as Black Lives Matter, #MeToo, and LGBTQ+ rights advocacy, have educated us on the importance of diversity and inclusion. These movements have sparked important conversations about systemic discrimination and inequality. Leading to increased awareness and demand for change, promoting a fair and just society where all individuals have equal opportunities is seen as a fundamental moral duty.
- A focus on wellness: Recharge and reconnect
Meetings can be more than just business. They can be about well-being too. A 2021 survey found that 79% of employees believed their company's well-being programs helped them be as productive as possible.
As such, in 2024, we’ll see more venues equipped with wellness facilities and activities, from yoga spaces to mindfulness sessions. It’s time to meet, greet, and retreat.
- The importance of inclusivity and diversity: Everyone’s invited
Nearly 70% of organizations consider the work done by staff to promote diversity, equity, and inclusion to be of great importance. That’s why today diversity is the heart of innovation in MICE. In 2024, we can expect more diverse panels, accessible venues, and inclusive agendas so everyone feels welcome and considered.
- Contactless and paperless organization
Say goodbye to queues and stacks of paper flyers, business cards, and agendas at your next big meeting. Contactless technology means a more significant focus on seamless meeting experiences, from check-in to networking. Paperless materials aren’t just eco-friendly, linking with the emphasis on green living, they’re efficient. It’s the sleek, smart way to MICE.
- Location, Location, Location
Fancy an exotic destination or a historic haunt for your next meeting? In 2024, the world is your oyster when it comes to planning and attending events.
With people more comfortable traveling after the pandemic, along with a rise in remote working, it’s completely possible to host a conference by the beach or a seminar in a castle to really impress guests.
- Hybrid events: The new norm
The buzzword in the workforce is hybrid, and it applies to meetings as well as how people work their jobs. We’ve adapted to the new normal, but work meetings and events are still transforming.
Approximately 34% of event organizers expect to invest more in hybrid events in the next few years. And 21% of marketers say they’re working on securing a hybrid event platform.
When it comes to meetings, physical attendance is not a must when being connected is the goal. Hybrid events bring together the best of both worlds – live interaction for those on-site and digital participation for attendees tuning in from afar.
- VR and AR: Beyond reality
Virtual and augmented reality are growing more popular for meetings and events. Today, it’s possible to walk through a conference hall from the comfort of your living room. You can even network with avatars of real people. Again, this can be useful for attendees living far away or are unable to travel to an event in person.
Today, VR and AR are gateways to immersive experiences that will redefine event and meeting participation. Currently, fewer than a million jobs are impacted by VR and AR, which is expected to change to around 23 million jobs globally by 2030.
As we gear up for 2024, the MICE industry is set to leap into a new era of immersive, personalized, and sustainable events. Embrace these trends to ensure your next meeting or conference isn’t merely another event, but a thoughtful experience for attendees.
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