FCM Meetings & Events goes global; predicts 6.6% growth rate for MICE by 2030, ET TravelWorld

<p>Representative Image</p> — Representative Image

FCM Meetings & Events (FCM M&E), a specialist in the meetings and events industry and a flagship division of the Flight Centre Travel Group (FCTG), has unveiled its global expansion plans. As part of this expansion, industry expert Simone Seiler has been appointed as the Global General Manager to spearhead while consolidating all global M&E businesses under one umbrella.

Recent trends indicate a resurgence in the business travel sector, with a white paper published by FCM M&E revealing that the Meetings, Incentives, Conferences, and Exhibitions (MICE) market is poised for substantial growth. The forecast anticipates a compound annual growth rate of 6.6 per cent from 2022 to 2030, culminating in a USD 1,563.3 billion in revenue by 2030.

“We believe the meetings, events, and event travel markets are ripe for disruption worldwide. With this investment, we’re well-positioned to capitalise on the growing demand for high-quality and personalised event experiences that has seen an exponential bounceback,” expressed Seiler.

According to Seiler, there is a remarkable potential within the global MICE industry, with a projected annual growth rate of 12 per cent for in-person meetings. She cited the recent data that ranks conferences and events as among the top two reasons for travel, particularly among SME owners and decision-makers.

“What’s particularly exciting is just how big the MICE industry is globally, and we know we have an incredible opportunity to both grow and position ourselves as the travel management company of choice for meetings, events, and event travel,” Seiler continued.

With this, FCM M&E also aims to leverage its leadership team in key global markets to enhance its MICE offerings for both prospective and existing clients, shared Seiler, who boasts over two decades of experience in the travel industry.

According to FCM M&E, the announcement to go global represents a significant milestone for the company which already has a strong presence across multiple countries and continents.

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India’s participation in the PATA Travel Mart includes a dedicated pavilion showcasing the spectrum of destinations and several Indian states and government entities are expected to take part. Although the event taking place at Bharat Mandapam, primarily caters to B2B interactions, it serves as a platform to introduce global audiences to the thematic products offered by Indian states.

Marcus Eklund, FCM Global Managing Director, cited GBTA research showing that more than eight in 10 executives prefer in-person meetings over virtual contact, underscoring the recent surge in demand for face-to-face interactions. “The M&E business has been firing in the last 18 months and the scope for growth is outstanding. With our superior technology and decades of industry experience within our teams, we couldn’t be in a better position to capitalise on industries that are desperate to be back to face-to-face,” Eklund shared.

Looking ahead, the FCM Meetings & Events is planning to expand its presence in the sector and its global footprint. The company’s priorities include the development of innovative technology solutions and the recruitment of additional talent. FCM M&E will continue to focus on three core areas: Meetings, Event Travel, and Events.