As if there was could be any doubt, the big and easy financial pickings fuelled by the MICE industry confirms conclusively how (venues, catering, entertainment, rentals and the like) without even taking account of travel, tours, accommodation and the like are assured of a good slice of the cake due to the MICE decision-makers selections.
The latest in-depth research into the size of the international MICE industry for 2015 was revealed by Cvent’s Crowd Compass.
Cvent prefaces the international event landscape by reminding the industry that: ‘Event Managers must be devoted, hard-working and open to change. The industry is becoming more reliant on technology, and with that, planners must adjust’
6 of the top facts that boggle the mind:
Fact 1: Number of Undertakings
10 million MICE undertakings are held annually throughout the world.
The amount spent on these MICE undertakings amount to around R8,5 trillion
Fact 2: Event Planners in 2015
Event planners average organising between 5 to 9 events
42% of event planners spent two weeks out of the office
40% of event planners work 15 to 20 hours during an organising project
10% of event planners average 6 hours sleep during an event
Fact 3: Size of Budgets in 2015
The largest budget for 40% of event planners averaged R2,5 million
69% of event planners advised over-budgets of R100,000 or more
Fact 4: Sending Invitations
Event reminders emailed 2 days prior to an event increase RSVPs by 8%
With free events about 35% will actually attend
Advising attendees and speakers prior to an event is the one driving force to attending
Promoting an event with pictures, videos and graphics increases website views by over 200%
Fact 5: Choosing A Venue
74% maintained diverse culinary choices were important
47% advised the rate was the second most important aspect
43% said location was was less important
Fact 6: Saying Thank-you
Digital thank-you’s less than 24 hours following the event are more likely to get click-throughs – and follow up conversions.
Interesting stats about our industry, right?
