Optimistic About the Global MICE Industry
Why You Should be Optimistic About the Global MICE Industry
IMR blogger Stephanie Selesnick makes a compelling case for why organizations should expand internationally, in spite of economic woes around the world.
The Chinese stock market is fluctuating. Greek financial woes may severely hurt the Euro. There is always something bad or predicted to go bad somewhere in the world. It happens. The earth is a big place, with 195 countries (give or take at any moment) and 7.125 billion people (as of 2013). Bad news sells. It’s mostly what the media shares with us on an hourly basis.
Does that mean that your organization should never expand its efforts offshore because something bad is happening or might happen? Well, it depends on your answers to the following questions:
1. Are there potential exhibitors or sponsors located out of your country?
2. Are there potential visitors located out of your country?
3. Is your expo or event of interest to press located outside of the country?
4. Are there international experts who people would pay to see at your event?
5. Are you in a mature market and need to grow?
6. Are you in a growing market and want to expand your event’s footprint?
If you answered yes to any of the above questions, then your organization should expand its efforts offshore.
Can it be scary? Sure. Is it an investment? Definitely. Is it worthwhile? Without a doubt.
Let’s take China for a moment. Their stock market is going through what many are calling a “Correction.” A bubble burst. The Chinese government is taking corrective action and, in fact, most Chinese business professionals don’t gamble on the stock market. Sure the news features examples of average people who invested and lost, and we feel badly for them. The real question is: Are businesses there worried? Not so much, according to my sources on location.
Exhibitions in China continue to grow, not as fast as the last couple of years, but launches, acquisitions and mergers continue along.
Greece? Sure, it’s in trouble. However, it’s a very small part of the European Union. Will its fiscal issues effect exhibitions and events in Europe? Perhaps in a minor way. Should it keep your organization out of the EU marketplace? No.
In fact, there’s plenty positive news to share. According to the latest reports from AUMA (The German Exhibition Association) and UFI (the Global Exhibition Industry Association), many exhibitions worldwide continue to grow. (Read the whole UFI report.) Mexico and Latin America are going gangbusters. Middle classes continue to develop. Just look at the recent M&A activity.
The fact is we live in an increasingly global world. Don’t let the bad news guys scare you off.
Source : www.internationalmeetingsreview.com