The MICE Academy reported some weeks ago that the cutting of MICE Spend had not been heeded and flagrant misuse of tax-payers money was being consumed at resorts with conference facilities โresulting in more than half the delegation absent โ preferring instead the flesh pots of the entertainment amenities.ย As an aside – what is concerning is the weighty conference subjects which could ultimately impinge on all taxpayers lives.
Hence it appears the new Finance Minister Nhlanhla Nene has really made waves in his mid-term budget speech last week.ย Minister Nene has announced measures to rein-in spending, stabilise revenue and narrow the budget deficit.ย For those in the MICE industry, it is prudent to take heed of the MICE spend budget-cut aspects due to kick-in within the next six months.
- Travel and subsistence has been cut by R555m โ no more business-class flights
- Advertising and communications have budget cuts of R240m โ limiting gathering announcements
- Spending on venues and catering is reduced by R150m โ curtailing many pleasurable out-of-office experiences.
Party-time appears over- even though it will only apply after March 15.
