Space sold by organizers of meetings, incentives, conventions and exhibitions (MICE) in Macau last year rose nearly 50% over 2008, according to the worldwide association that considers itself an authority on such matters. Admittedly, this was from a very low base: Macau accounts for less than 1% of Asia’s total MICE market, while China is more than half. Still, executives from the Global Association of the Exhibition Industry (UFI) are bullish on Macau’s potential, as they say global organizers are looking to Asia to grow existing events and launch new ones.

Macau’s potential as a MICE destination is barely scratching the surface. We’re not so sure about the likelihood of big trade exhibitions coming to the Venetian’s million-square-foot center, but we do think there are two areas of the business that have big upside ahead: corporate gatherings and consumer shows. It’s hard to compete against centers like Guangzhou, Dongguan and Shenzhen – let alone Hong Kong – for the big trade shows. As the statistics show, China accounts for 55% of space sold but only one-third of revenues in the region’s MICE business. However, consumer shows fit in with the city’s positioning as an entertainment destination. Think about events like gadget shows, or luxury cars, or boats, or private jets (which took place last month). From the viewpoint of organizers, it would be so much easier to do this in Macau than in Shanghai. Now that Macau is getting such enormous visitor numbers, organizers are starting to take notice. As has been proven in Las Vegas, MICE visitors are the best of all: they stay longer and they spend more. We just hope Sands China can get their new hotels built fast enough to offer the capacity.

Used with permission & copyright to IntelMacau