Describe the positive and negative contributions to the MICE industry made by the emergence of multinational hotel groups?

Answer 1

1) Giving employment to locals: Through multinational hotel groups different countries get chances to organize events by organizing the event more job opportunities are created in the country, while helping to generate future employment for local people. The aim is to ensure that development brings a positive experience for local people, tourism companies and the tourists themselves. As an example formula 1 in Singapore has created a lot of job opportunities to students as well as for part timers.

2) Economic growth in the country: most of the countries are fond of holding events to grow up there economy. International Congress & Convention Association (ICCA) statistics show, that a total of 400,000 conferences and exhibitions are held worldwide every year at the total outlay of US$280 billion. The Global Association of the Exhibition Industry (UFI) points out that as annual MICE industry output value has already reached US$1.16 trillion (including US$400 billion for conferences and US$760 billion for exhibitions),MICE could be counted on to bring enormous economic benefit to the countries and cities that host them.

3) More competition: As major events grow in economic influence, more cities and countries want to host them. Organizations like the International Olympic Committee (IOC) and the International Federation of Association Football (FIFA) are interested in expanding their global reach by holding events in emerging countries. Accordingly, the heightened competition in winning the bid risks creating a spiral of increasingly ambitious plans and claims from aspiring hosts, particularly emerging cities and countries that feel a stronger need to impress the selection committees.

4) More investment on security: security is rapidly becoming a more and more relevant issue in evaluating bids to host events. Growing in visibility, these events have become targets for disruptive forces. The range of security threats has expanded to include large-scale bombings, global pandemics, biological weapons, and cyber attacks, and host countries and cities must increase their investments in security measures.

5) Arrivals: athletes, support teams, media, officials and fans arriving into the destination from across the country and across the world for Games, and for pre-and post-Games touring. Apart from games for other events actors, singers also diplomats from different countries.

6) Revenues: money spent by visitors spending time in the destination over the period of the event, as well as pre and post stays.

7) Investment: money injected into the destination for critical infrastructure development.