Thailand looks to Festival Economy for regional revival

TCEB unveils three strategies to revive kingdom's MICE industry with ’Festival Economy’ and hosting of Apec Summit

FESTIVALS in each region of Thailand are being encouraged to boost local economies and revive business in a three-pronged strategy for 2022 unveiled by the kingdom’s convention bureau.

The kingdom’s hosting of the Apec Summit next year is also expected to support plans by Thailand Convention and Exhibition Bureau (TCEB) to attract more high-profile events.

TCEB’s president Chiruit Isarangkun Na Ayuthaya (above) said the strategy focused on developing more cities and organisations for international business events by upgrading skills, standards and pursuing prominent hosting opportunities.

To create new events, TCEB has introduced the “Festival Economy” concept to regional cities. The idea is to create a signature international festival – “1 City: 1 License Event” – that can transform a region’s unique advantages and drive local economies. A “Festival Economy” will unite the interests of local stakeholders such as service providers and suppliers, venue owners and organisers towards common sustainable goals with tangible economic benefits.

Chiruit said the three pillars of the strategy were:

  1. Reinforce national MICE with more cities upgraded to create new events and help organisers meet international standards to achieve greater economic impact. TCEB will work with partners from all sectors through projects such as Emtex, which has enabled more than 10 public- and private-sector organisations to raise local trade fair standards.TCEB’s financial support for domestic meetings, which is now in its third phase, has so far attracted more than 1,000 applicants, while support for 645 meetings has already been approved.
  2. TCEB will partner with professional associations such as Thailand Incentive and Convention Association (TICA) and congress organiser association ICCA to prepare the workforce and venues for the return of international MICE groups.
  3. Attract as many international events as possible. Thailand is hosting The Asia-Pacific Economic Cooperation (Apec) Summit 2022, which is expected to support TCEB’s plan to attract more high-profile events in the following years.

More… Thailand on course for ’reboot’

Thailand’s National Economic and Social Development Council has backed the policy of promoting business events in each region as an economic driving force and make the country a “destination of high quality travel”.

Wirot Nararak, the council’s deputy secretary-general, said: “Each region has been positioned for a particular economic based on its potential and foundation, such as creative economy for the north, bio-farming for the northeast, high quality global tourism for the south, including the development of smart cities and special economic zones along the border areas.”

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