27 Apr Business tourism
Business tourism
a.k.a. Meetings, Incentives, Conferences and Exhibitions (MICE)
Since the advent of globalization, business tourism has been booming in all developed countries. Some countries, notably the United States and Europe, especially Great Britain, France and Spain, take the lion’s share of this industry. Business tourism combines commerce and traditional tourism.
Travelers who combine tourism with business spend on average 40% more on their leisure activities than those traveling for tourism purposes only.
The main business tourism sectors are:
- Conventions and trade shows
- Seminars and motivational workshops
- Travelers taking advantage of a reward given as a result of an incentive program
- Commercial purposes
Increasingly competitive, the business tourism sector is specializing more and more. Indeed new trends are emerging as business tourism seeks sustainable development. The latest wave of business travelers are more conscious and care about giving their travel dollars to tourism and hospitality facilities that are doing their bit to save energy and better manage water and waste, as well as to B&B’s and restaurants that source their food from local producers.
The draw of a business travel destination
What motivates the choice of destination for a business tourist is availability of leisure activities after the day’s work has been done. The close proximity of museums, theatres, operas, shows and monuments with historical significance influence the choice of destination. Add to this the necessary technological amenities for any business traveler, such as wireless internet access, a properly equipped conference room, a VIP or customized package, convenient access to transport and banking as well as the destination’s reputation for safety.
Business tourism in Québec City
According to André Roy, director of the Québec City Tourism, “The meetings and conventions side of business tourism increased by 4.8% in 2014 in the Québec City region,” This represents the largest increase among Canadian cities.
And with the decline of the Canadian dollar, significantly more American tourists are expected in 2015.
Business tourism stands on its own in terms of its revenue and profit contribution to the overall economy. It is a major asset to any national economy and a local economic development generator.
Nevertheless, as globalization generates the growth of this new economic sector, at the same time, the sector has been hard hit by the global economic crisis. In the face of this new reality, companies have been controlling spending by cutting their budgets for business trips that cannot be tied directly to a sale such as attendance at a convention.