Business Wire India
Gear up to meet the world under one roof at the MICE India & Luxury Travel Congress
taking place at the Hyatt Regency, Mumbai on the 25th & 26th July in Mumbai and at Pullman New Delhi Aerocity on the 31st July & 1st August 2018.
Headlining a stellar lineup of speakers at the Congress are Europe’s leading meeting designer and innovator, Bo Kruger credited with playing an important part in the development of Denmark’s famous Meetovation meeting design concept and Middle Easts’ renowned motivational speaker and the man inspiring millions, Kevin Abdulrahman, who works with several Fortune 500 organizations and prominent government agencies and has, till date, delivered over 3,000 talks across five continents. During his Opening keynote he will speak to leaders on how they can take their results to the next level.
Now in its sixth edition, the MILT Congress has expanded to become the biggest platform for suppliers from around the world looking to capitalize on India’s booming travel and tourism sector, which is estimated to generate 6.5 million outbound luxury and MICE tourists annually by 2020.
Demand for luxury travel, in particular, has shot up considerably over the last half-decade, to the extent that luxury travel is today the fastest-growing segment within India’s travel industry. According to a recent report commissioned by global travel technology provider Amadeus, India’s luxury market CAGR (compound annual growth rate) of 13% is higher than any of the other BRIC nations, and is the highest of the 25 countries explored in the report. Luxury travel trips are projected to grow at a CAGR of 6.2% between 2015 and 2025, almost a third faster than overall travel at 4.8%.
The changing nature of MICE tourism is further contributing to the growth of India’s outbound luxury travel market; in the process, it is blurring the traditional boundaries between corporate, leisure and luxury travel.
Sidh N.C., Director, QnA International, said, “The rise of the ‘bleisure’ trend, where corporate travelers look to mix business with leisure during their stay, is increasingly turning business travel into weekend getaways. This is particularly so in the case of millennial travelers. Responding to the needs of these new-age business travelers, companies often request MICE operators to design and schedule meeting dates and locations in such a way as to enable employees to combine their business trip with a short vacation. As a result, there is much more emphasis placed today on providing unique and culturally rich experiences to the modern business traveler.”
“Another trend we are witnessing is the diversification in terms of outbound MICE & luxury venues and facilities. There is now a growing demand for MICE events as well as luxury weddings to be held in distinctive, offbeat venues such as cruise ships, with a range of entertainment and activities thrown in to make sure the experience is a memorable one for all present. The MILT Congress, therefore presents an ideal opportunity for global travel and tourism players to tap into the diverse trends and growth drivers shaping India’s outbound MICE and luxury travel industry,” Sidh added.
While India is currently the second fastest-growing outbound travel market in the world, the country’s Central government is also placing significant emphasis on developing the domestic MICE segment. India’s aim is to achieve 2% of the global MICE market share by 2025, from the current share of 0.5%.
The MILT Congress is the only event that allows MICE & Luxury travel and tourism businesses from across the world to meet and engage one-on-one with decision-makers from India’s leading corporations and luxury travel specialists who are involved in finalizing MICE and luxury travel activities.