The event was attended by Deputy Prime Minister Pham Thi Thanh Tra, Minister of Culture, Sports and Tourism Lam Thi Phuong Thanh, Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Loc Ha, and Deputy Minister of Culture, Sports and Tourism Ho An Phong.
In her opening speech, Minister Lam Thi Phuong Thanh stated that global tourism has entered a new phase of development and that tourists are increasingly interested in the quality of tourism products, cultural identity, quality of experience, and green and smart tourism related to sustainable development. Minister Thanh noted that, given the shift in growth from quantity to quality and sustainability, from resource exploitation to value creation, and from offering individual products to building internationally competitive tourism ecosystems, MICE (Meetings, Incentives, Conferences and Exhibitions) is one of the strategic products and segments that can lead this change.
MICE Tourism Offers 3 to 6 Times Higher Spending Potential Than Regular Tourism
Minister Thanh noted that MICE and business travel are showing significant growth, emphasizing that average spending is 3 to 6 times higher than that of regular tourists. She added that this is supported by longer stays and, most importantly, the potential to activate value chains ranging from accommodation, aviation, transportation and food services to media and technology.
Vietnam's MICE Market Is Valued at Around $6 Billion
Vietnam's Ministry of Tourism stated that the country's MICE market is currently valued at approximately $6 billion and makes a significant contribution to the national economy. The Ministry noted that MICE not only generates revenue for tourism, but also creates opportunities, strengthens connections and clearly defines the destination brand.
