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On The Ground 8 JAN-FEB 2020 MEETINGS & CONVENTIONS MCMAG-ASIA.COM Industry Reports APAC tipped to lead booming global MICE industry The global MICE industry is enjoying significant growth, with projections to reach US$1.439 trillion in the year 2025. Asia-Pacific will be the main beneficiary of this boom, according to an industry report by Allied Market Research. The study forecasts that the industry, which was valued at US$805 billion in 2018, will see a Compound Annual Growth Rate (CAGR) of 7.6% from 2018 to 2025. The MICE industry, the highest revenue contributor to the travel industry, has witnessed exponential growth due to rapid globalisation and expansion of service industries, and the continuous evolution of scientific and technological innovations. Among the regions, Asia Pacific is expected to witness the highest CAGR of 8.6% during the forecast period, significantly driven by countries such as Singapore, China, and India. Moreover, ease of visa restrictions, investments in better infrastructure, and high demand in commercial aviation in the region will further fuel the growth of its MICE industry. Destinations Malaysia opens doors to China and India From this year, travellers from China and India will be able to visit Malaysia without a tourist visa. Throughout 2020, they will be able to enter the WORDS MEETINGS & CONVENTIONS ASIA (TOP LEFT) LLUSTRATION: GETTY IMAGES Asia Pacific is tipped to be the world's fastest growing MICE industry, growing at a rate of 8.6% till 2025. CREDIT: MARCHMEENA29/GETTY IMAGES country for up to 15 days by using the electronic travel registration and information system - either individually or through travel agencies in their respective countries. However, the tourists must enter and exit Malaysia only through authorised airports or entry points. Upon arrival, they must produce proof of sucient cash for expenses, credit card or bank card, and produce their travel itinerary in Malaysia. They should also have a valid return ticket. Indonesia hones MICE appeal Since taking oce last October, Indonesia's Minister of Tourism and Creative Economy Wishnutama Kusubandio has been focused on drawing up a new national tourism masterplan that will prioritise events and MICE tourism in the country. The minister has set a target of 18.5 million for 2020 and believes he can "create more appeal" in Indonesia through events and MICE. "These two can be our saviours in driving foreign exchange income from the tourism sector in 2020. (This is) so that the tourism industry can be the highest foreign exchange income contributor. It has already generated US$20 billion this year," he said. Conferences & Exhibitions Nara's star rises Japan will have another top- class venue for meetings and conventions when the highly- anticipated Nara Prefectural Convention Center opens its doors in the Spring of 2020. Located 90 minutes from Kansai International Airport, the opening of CREDIT: GETTY IMAGES