The global MICE travel market is expected to reach US$1 trillion in 2024, providing significant opportunities for destinations to take advantage of. As the second fastest growing economy in the world, with unique experiences and attractions, Africa has the potential to take advantage of a number of emerging trends in this market.
Speaking during World Travel Market held in Cape Town last week, Nick Nagle, Marketing Manager for IBTM world, said Africa currently accounts for 10% of the global MICE share, but destinations could be doing more to market themselves.
Mauritius, as an example, is offering financial incentives to large scale events such as discounts in venue hire, tax rebates and subsidies, to attract the lucrative MICE market.
Key emerging trends also provide a number of opportunities for Africa to take advantage of.
New cities
“There is a huge opportunity for second and third tier cities in the next five to ten years,” said Nagle. These cities are typically not the…