Amex publishes 2019 forecast for the MICE segment
According to the study the industry has shown a good evolution and it is predicted a prosperous season next year
According to a study prepared by American Expess, MICE professionals in Central and South America have positive prospects for their region in 2019. Respondents from Mexico and Brazil have been optimistic. Planners see signs of growth throughout the region and some are taking advantage of virtual technology to accommodate this increase in demand.
Meeting planners in Central and South America indicated that the training meetings represent a generous proportion of their total meeting activity.
According to respondents in Mexico, 31% of all meetings are internal, while planners in Brazil indicate that internal meetings are 22% of the total. Incentives are equally common at 21% and 19% respectively.
Planners in Brazil have a positive outlook for 2019, with a forecast of a 3.95% increase in conferences and fairs, an increase of 3.63% in incentives and an increase of 3.24% in meetings with clients. Higher leadership meetings are also expected to increase at a rate of 2.19% in 2019.
In terms of attendance at meetings, respondents in Brazil are optimistic, projecting between 2% and 3.5% view an increase in attendance for all meeting categories, except internal and training. The highest expected growth in attendance is for conferences and fairs, with an increase of 3.55% in 2019.
MICE professionals in Mexico are anticipating modest increases in attendance in all categories, except conferences and fairs, which are expected to have no change. The largest increases are estimated at 1.00% in product launches and incentives.
Planners in Mexico also expect product launch meetings to be somewhat longer (1.31% increase). Most other types of meetings will change less than 1%. It is expected that the client advisory councils will be reduced slightly, by 0.88%. In Brazil, however, optimism continues as planners seek meetings of all kinds.
For almost all types of meetings, planners in Brazil will face higher costs per assistant than their counterparts in Mexico. the exception is for incentives, where the estimated costs per assistant are almost equal to $ 2,040 in Brazil and $ 2,111 in Mexico.
Planners in Brazil report higher costs per assistant for other types of meetings. Respondents in Brazil indicate that each meeting category has a cost per attendee of more than $ 1,500, and product launches and senior leadership meetings, such as incentives, exceed $ 2,000 per participant. In Mexico, most meetings have a cost per assistant below $ 1,500. Apart from the incentives, only product launches have relatively more costs ($ 1,767 per assistant).
The list of the top 10 meeting destinations in this region remains virtually unchanged from last year. Santo Domingo in the Dominican Republic claims a place on the list, replacing Santiago, Chile and San José, Costa Rica, which was ranked tenth in 2017.
1. Rio de Janeiro, Brazil
2. Cancun / Mayan Riviera, Mexico
3. Mexico City, Mexico
4. São Paulo, Brazil
5. Cartagena, Colombia
6. Panama City, Panama
7. Punta Cana, Dominican Republic
8. Buenos Aires, Argentina
9. Lima, Peru
10. Santo Domingo, Dominican Republic
(Source: American Express Meetings & Events Destination Analysis, 2018)