The initiative is aligned with the Thai government’s policy to make Thailand a host of international festivals and a destination that attracts business travellers.
Thailand Convention and Exhibition Bureau (TCEB) is targeting the
festival sector to grow its MICE industry by partnering four
associations. It is moving on to phase two of the Festival Economy
initiative by repositioning Thai festivals as a B2B platform for
festival industry stakeholders to meet and do business in festival
products and services.
The four partner associations are Thailand International Events and
Festivals Trade Association (TIEFA), Thai Mass Participation Sports
Trade Association (TMPSA), Thailand Entertainment Creators Network
Association (TECNA) and Contemporary Art & Culture Industry
Promotion Trade Association (CAPT). Each has its own festivals targeted
for inclusion of B2B elements.
Chiruit Isarangkun Na Ayuthaya, president of TCEB, stated that the
initiative of business festivals is aligned with the Thai government’s
policy to make Thailand a host of international festivals and a
destination that attracts business travellers. Festivals will also be a
vehicle that drives festival business or other related business both
locally and internationally. The festivals in Thailand can be
transformed into an engine that powers the economy measured not only in
terms of visitor spending but also in terms of traded value of products
and services. Also, such events can become a platform for high-spending
travelers.
“The digital content of Thai creators featured in digital festivals
in Thailand can be traded by overseas clients, or the artwork of Thai
artists displayed at the festival can be hired for the exhibit
overseas,” he said.
The execution of this initiative by TCEB and partner associations is
not limited to the B2B element but also on bidding, and the development
of its festival academy.
The bid for world festivals, if won, is a platform for Thai festival
organisers to get first-hand experience and inspiration from festivals
of a global calibre and to network with overseas peers.
The festival academy is a platform for nationwide festival organisers
to share experiences, get inspiration, form collaboration and network
both domestically and globally to enhance their competency.
TCEB has over 30 festivals under its support scheme in 2024 which
will draw 2.3 million domestic and international travelers. These
festivals are expected to generate economic benefits of at least 3.6
billion baht (US$99 million) in value and contribute over 5.8 billion
baht to Thailand's GDP.