The European debt crisis from the end of 2011 became a global economic downturn with China also influenced. Although the future profits and market scale somehow rely on MICE industry, firms will control the budget and cost making 2013 is a mixed year for the MICE industry. The trends of China MICE industry in 2013 are estimated as following:
The pharmaceuticals industry: budget cut & strict policy
The pharmaceuticals industry which used to be a big market is now experiencing stricter rules and laws of countering business bribery. Influenced by the the global recession, most firms have tight budget, less new products and longer research and development periods. So the need of release conference and business travel decrease.
IT, telecommunications and auto-repair industries: significant rise
IT, telecommunications and auto-repair industries keep the growth in these years. Few big conferences are held, but they have a number of small or medium size activities, held very frequently. They require high creative ability of the MICE company, and usually have fixed service provider.
MICE companies booming & investment capital access
Many new companies spring up in 2012 and the industry leaders' market share reduced a lot. Second-tier companies rise abruptly. Capital market accessing the MICE industry would probably result a round of corporate reorganization and merger.
International conference is still a stable market, approximately 400,000 per year, with more than $USD 280 billion economic benefit. Furthermore, in regards to the exhibition market, many experts estimate it will increase by 3% in 2013.
