FESTIVALS in Thailand are set to get a business events dimension under plans by the kingdom’s convention bureau, which is partnering with four national associations.
Thailand Convention and Exhibition Bureau (TCEB) wants to see festivals develop into a platform of business by attracting high-spenders and making the country an international festival destination covering the arts and sports.
TCEB has been supporting a “Festival Economy” initiative and is bringing this into its second phase by enabling festival organisers to heighten the appeal of their events to business groups.
A B2B platform will be created for people in festival industry to meet and get involved in business transactions for festival products and services, a press conference announcing the partnerships was told.
FESTIVAL FRIENDS:
Thailand International Events and Festivals Trade Association
Thai Mass Participation Sports Trade Association
Thailand Entertainment Creators Network Association
Contemporary Art & Culture Industry Promotion Trade Association
TCEB president Chiruit Isarangkun Na Ayuthaya said the initiative was aligned with government policy to make Thailand an international festival host while attracting business travellers.
The move was also a response to a global trend in which festivals were not just gatherings of likeminded people but a means of driving festival business or other related business both locally and internationally.
Festivals in Thailand could be transformed into an engine that powers the economy measured not only in visitor spend, but also in terms of traded value of products and services.
“The digital content of Thai creators featured in [a] digital festival in Thailand can be traded by overseas clients, or the artwork of Thai artists displayed at the festival can be hired for [an] exhibit overseas,” Chiruit said.
Backgrounder… Thailand looks to Festival Economy for regional revival
TCEB and partner associations will also cooperate on bidding and the development of festival academy. Bid wins would enable Thai festival organisers to get first-hand experience and inspiration from International events and network with overseas peers, the conference heard.
TCEB has more than 30 festivals under its support scheme for 2024 that are expected to bring 2.3 million Thai and overseas visitors. Those festivals are expected to generate economic benefits of at least 3.6 billion baht (US$98.9 million) in value and contribute more than 5.8 billion baht to Thailand’s GDP.
