Niche Partners has issued a report titled African Perspectives on the MICE Industry that details its findings across a continent-wide survey and gives insights into where the MICE (meetings, incentives, conferences and exhibitions) industry is currently most challenged.
“More than three-quarters (78%) of our respondents cite the leading concern for the MICE industry in Africa as revenue generation as well as financial sustainability,” says Londi Khumalo, managing director of Niche Partners.
“More than three-quarters (78%) of our respondents cite the leading concern for the MICE industry in Africa as revenue generation as well as financial sustainability.”
Respondents are also concerned by the opportunity losses to the entire MICE supply chain due to the lockdown and travel restrictions.
“In particular, there is concern around the duration of the industry’s recovery time and customer retention issues as customers are weary of exposure to COVID-19 related health and safety issues,” she explains.
There is no shortage of prospects within Africa’s MICE industry, yet it is in a developing stage, with the infrastructure, networks and regulatory structures necessary to attract and grow business events across a multitude of economic sectors still being put in place in many countries. By comparison, the International Conference and Convention Association (ICCA, 2018) reports that Africa hosts 3% of the globes internationally rotating meetings compared to 52% held in Europe, 23% in Asia Pacific and 11% In America.
Africa hosts 3% of the globes internationally rotating meetings compared to 52% held in Europe, 23% in Asia Pacific and 11% In America.
So what does the COVID-19 crisis mean for the way forward on how Africa can overcome some of the challenges to growth and recovery of its MICE industry?
“While the revenue and recovery issues are top of mind for our respondents, there are mixed sentiments in the industry, with the majority pre-empting that the declines will be short term and that the recovery from constrained demand is expected to last between 12 and 24 months,” notes Londi, adding that there are, however, areas of business development identified which include investment into technology to enhance client experience, and intracontinental collaborations to drive regional tourism in Africa.
“There is also an expectation of growth of new event types particularly focused in health and safety and a growing demand for support suppliers in health and safety implementation in the region,” she concludes.
The African Perspectives on the MICE Industry report is available to readers upon request. Kindly email email@example.com to request your copy.
Cover image: Business photo created by freepik