China-based technology is highlighted in the report as a key component leading the trend for meeting and event organisation.
SAN FRANCISCO - Chinese innovation is leading the way for the global meeting and event industry, with products that could propel the industry into the future.
That is according to a destination development report by Pacific World, which highlights the growth, trends, MICE industry developments and emerging destinations of one of the world's fastest growing economies.
Curated through Pacific World's latest China research and unique industry insights, the report - shared at PCMA's Convening Leaders conference in San Francisco on Jan 6 - serves as a guide for businesses and event planners in planning the most effective and engaging events at destinations across China now and in the future.
"With the pace of change and developments in China we realise that many events professionals have limited to no information about today's China business events landscape," said Selina Sinclair, global managing director of Pacific World.
"Through our insights reports we hope to help event professionals to close the gap and better understand China as a destination and to help them anticipate upcoming infrastructure developments to enable them to identify locations for events in 2023 and beyond".
The report stated that, as a leading economic superpower, China is one of the most innovative when it comes to utilising technology, public-private investment and sustainable development to bolster its economy, industries and quality of life for its citizens.
Initiatives such as Made in China 2025, a state-led initiative to fortify China as the global high-tech leader through a combination of government, private and foreign investment into innovation and infrastructure, and the Belt and Road Initiative (BRI) will propel development of the business events industry.
INNOVATION FOR THE MICE INDUSTRY
China-based technology is highlighted in the report as a key component leading the trend for meeting and event organisation, with innovation that could bring the industry into the future.
Pacific World views pioneering products like WeChat, a communications and retail platform, as the future for business events. The WeChat API has the potential to revolutionize event planning with features like event registration and payment, real-time customer service and feedback and onsite social engagement. It also offers potential for virtual enhancements such as AI recognition and VR and AR interaction.
As a growing global hub for technology and manufacturing, China is a key destination for meetings and events. Pacific World predicts that, boosted by Made in China 2025 and the BRI initiatives, several 2nd and 3rd tier cities inland will emerge over the next few years as future business and manufacturing hubs and potential MICE destinations.
The key MICE emerging destinations are:
• Well Established - Beijing, Shanghai, Guangzhou
• Emerging 2019 - 2022 - Xi'An, Chengdu, Xiamen, Shenzhen, Hangzhou
• 2024 and beyond - Nanjing, Ningbo, Wuhan, Qingdao
GROWING TRAVEL & TOURISM INDUSTRY
Estimates show that over the next years, China's hotel industry will grow to US$100 billion with 6.3 million rooms.
The biggest growth is expected in the mid-scale category, with local and international hotel operators as well as real estate developers building over 2.000 new properties to meet current and future demands.
Many new hotels are being built in the emerging cites such as Chengdu (at a record high of 124 projects), Wuhan (111), Xi'an (80) and Hangzhou (73).
Likewise, air travel to and within China is growing quickly. The current number of airports will increase from 238 to 450 by 2035 to accommodate more cities and more travellers.