Indian Convention Centers Positioned to Boost Inbound Tourism
India’s Meetings, Incentives, Conferences, and Exhibition (MICE) industry is seeing favorable advancements with the opening of new state-of-the-art convention centers. The Jio Convention Centre in Mumbai, Pragati Maidan in New Delhi, a convention center in Indore, and a recently approved center in Goa are set to boost the industry in India.
The worldwide MICE industry would grow at a 6.6 percent CAGR from 2022 to 2030, as per Grand View Research. However, India was ranked 28th in the 2019 International Congress and Convention Association ranking, indicating significant room for development.
Inadequate infrastructure, such as a lack of convenient access to convention centers, is a big barrier for the sector. Such considerations must be considered by Governments when authorizing schemes. Government incentives are also important in luring MICE travel, as witnessed in Thailand, Malaysia, Singapore, and UAE.
The industry has a multiplier effect, benefiting ancillary facilities such as conference organizers, restaurants, and shopping. Furthermore, one in every five conference visitors returns as a leisure visitor during the next two to three years, ensuring a continual flow of tourism. As a result, it is critical for the Indian Government to capitalize on new convention centers and boost business, which will benefit the local industry as well.