BUSINESS events can economically and socially transform communities, enterprises and individuals. Through face-to-face meetings, we are able to transfer knowledge, find common ground and foster business relationships to advance societies.
There are economic benefits too. When we organise or participate in meetings, conventions or incentive travel, we generate financial gains that benefit communities.
Consider the US$1.5 trillion global GDP of business events in 2017, according to the latest figures from the Events Industry Council. Asia Pacific contributed nearly US$300 billion of that in direct spending alone, with business events attracting nearly 500 million participants, and those figures will grow with the region’s MICE industry predicted to increase by 8.6 per cent by 2025.
ASIA PACIFIC ANNUAL CONFERENCE
PCMA, a global leader in the business events industry, designed its Asia Pacific Annual Conference to help the region better understand and compete in the expanding business events industry. The annual event, taking place November 6-8 in Macau, offers unique education and networking experience through a collaborative and participatory approach to learning.
We understand Asia Pacific’s mix of mature destinations well-versed in the MICE industry and developing cities and venues seeking to strengthen their business events foundation. The annual conference’s approach to learning includes speakers from outside the business events industry to provide fresh insight and different perspectives.
MACAU AND GREATER BAY AREA
The Asia Pacific region will become an even more important trade corridor in the next five to 10 years, and the increased rate of infrastructure development in the area is not going unnoticed.
The recently opened Hong Kong-Zhuhai-Macau bridge and tunnel system significantly reduces travel times between the three cities in the Greater Bay Area. Not only is the 55km span the longest sea crossing bridge, it is also an economic link to a burgeoning commercial hub. There are approved plans to transform the island of Hengqin – to the south of Macau and three times larger – into a tourism and non-gaming entertainment island that will complement Macau’s casinos.
PCMA’s presence in the Greater Bay Area underscores the association’s commitment to Macau and Hong Kong during these challenging times by demonstrating how the region can thrive when we convene for economic and social transformation.
GROWTH POTENTIAL
The increased development and presence of new corporations in the Asia Pacific region drives a need for
more business events which deliver both professional and personal development through valuable and targeted education and networking.
Corporate incentive travel represents 25 per cent of all global business travel, and while tourism dominates the Asia Pacific region, CIT is making steady gains. PCMA will support the region during the transition from leisure travel to business events by ensuring the industry has the knowledge and innovations it requires to succeed.
Philip Pang is manager, marketing and events, with PCMA
