Chinese Business Travelers Spend $110 Billion USD on Meetings & Events in China
Yesterday, the GBTA Foundation released a study, sponsored by Starwood Hotels & Resorts, that assessed China’s Meeting, Incentive, Convention & Exhibition (MICE) market. This is the first time the market has been quantified like this revealing that MICE activity comprises nearly half (42 percent) of total domestic business travel volume in China and 45 percent of total business travel spending.
In 2014, 138.5 million domestic trips were taken for MICE purposes and MICE business travelers spent a total of $110 billion USD (¥680 billion CNY) during those trips.
Where are These Trips Happening?
Shanghai (27 percent) and Beijing (25 percent) hosted the majority of MICE trips in China over the last 12 months, followed by Guangzhou (24 percent), Hong Kong (11 percent) and Macau (6 percent).
What Do These Trips Look Like?
In the past 12 months, 86 percent of business travelers have taken a trip for MICE purposes in China and each business traveler spends an average of $1,100 USD (¥6,782 CNY) per trip. Chinese MICE trips last 2.9 days on average with the majority of trips (59 percent) lasting between two and four days. Most business travelers (64 percent) reach their MICE destinations by air while 18 percent travel by train and 14 percent by car. MICE meetings are typically held at conferences and convention centers (38 percent) or hotels (33 percent).
Want to Learn More?
Attend a webinar on December 10th, featuring GBTA’s VP of Research Joe Bates as he provides an overview of the findings.