The Thailand Convention & Exhibition Bureau (TCEB) has launched a new project to help drive the nation’s economy by subsidizing meetings and incentive travel for domestic organizations.
TCEB President Chiruit Isarangkun Na Ayuthaya explained that the project, titled “Meetings in Thailand, Boosting up the Thai Economy,” aims to encourage Meetings, Incentive Travel, Conventions and Exhibitions (MICE) events nationwide. It is also expected to create jobs and generate revenue for MICE entrepreneurs and related businesses.
Chiruit noted that the organization has been supporting organizations holding meetings and incentive travel since 2020 and will continue to do so this year. The project is aiming for 1,000 domestic MICE groups, generating some 100 million baht in revenue to help bolster the economy.
The project will provide subsidy support, subject to terms and conditions, for entrepreneurs and juristic persons planning to hold domestic corporate meetings and engage in incentive travel. Budget support below 15,000 baht is being allocated for 650 MICE groups holding one-day events, while support below 30,000 baht is allocated for 350 MICE groups holding at least two-day and one-night events. The application process is open from April 1 to August 22, 2023.
Applicants are required to organize activities outside the location of their organizations, selecting at least one venue from a database available on the website “thaimiceconnect.com.” The event must also attract at least 30 attendants.
The project is expected to help the domestic MICE industry achieve its 2023 fiscal year financial performance target of about 17.8 million domestic MICE travelers and 59 billion baht in revenue. (NNT)