Market Snapshot: Russia MICE Industry

Meetings & Incentive business from Russia continues to grow

According to Dmitry Smirnov of Events Magazine Russia, the meetings industry in Russia has experienced substantial growth in the last year with the leading 12 specialists recording International MICE business in excess of €.70 million and this figure represents only 40% of the total as domestic events, business travel and official delegations to conferences are not included!

Turkey remains the leader in Russia whilst Egypt has lost market share with clients now looking for alternative destinations. Recent conferences have been held in many high end destinations including USA with 2 groups in excess of 200 participants, Italy with 3 groups that exceeded 300, Spain with almost monthly events with 50-100, Brazil 2 groups of 200+, Cuba, Emirates, China and Thailand also reporting large movements. One of the greatest challenges for Russian specialists is to find suppliers and destinations able to cater for corporate meetings fro 400-800 delegates. Their main requirements being simple visas, easily accessible, warm climate and good business/resort infrastructure.

Smirnov also commented that “The average event planning period in Russia is 4-6 months from the first RFP and bidding to materialisation with most groups taking place in Q3-4, the most effective time for promotion is in March. Therefore we highly recommend the Moscow International MICE Forum on March 19th as the ideal time and place to meet with all the leading Russian MICE specialists”.

Unlike other countries around the world, the prognosis for the Russian economy is strong, with Morgan Stanley predicting GDP growth of 4.6%. Inflation is down, employment is up, industrial production is increasing as are retail sales. With these encouraging forecasts, an increasing number of Russian companies are looking to reward their employees and clients with Incentive travel. In addition as Russian products and services become more competitive, there is a growing demand for participation at conferences and exhibitions around the world. This combination presents an excellent opportunity for International MICE suppliers to satisfy this increased demand.

Russia’s premier Meetings and Incentive event, The Moscow International MICE Forum takes place on Monday 19th March offering International suppliers a professional platform to meet with leading Russian MICE specialists and Corporate Buyers. Concurrent with other tourism events held in Moscow at this time, the Moscow International MICE Forum enables participants to maximise their sales visit.

Full details can be viewed at www.MiceForum.ru

Press Contact: Kim Waddoup, CEO aigroup/ Email: kim@aigroup.ru

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