 |
The 10th World Knowledge Forum, the largest and most prestigious meeting of its kind in Asia, was held this year under the theme "One Asia, New Economic Order and Recovery". The event, held at the Sheraton Walker Hill Hotel in Seoul, ran from October 13th to 15th and featured 250 speakers and over 3,000 participants. With world-renowned experts from 50 countries sharing their insights and knowledge, the 10th World Knowledge Forum examined the potential and future prospects of an integrated Asian region that has recently become one of the world's largest growth engines in the face of the global economic recession. It also provided an opportunity to investigate the current status of the world economy as it stands on the crossroads of recovery or further decline. The event also served as an opportunity to make predictions on a new world economic order.
All ten World Knowledge Forum events since its inception in 2000 have been held in Seoul, thus enhancing the stature of Seoul as a global MICE center. The city was recently ranked second in Asia only behind Singapore in a list of international conference centers released last year by the International Congress & Convention Association (ICCA). This is a testament to the importance of Seoul, not only as a major metropolitan center but as a major force in the vibrant Asian MICE industry.
The forum included a special session on "the MICE industry as a new growth driver" that drew considerable attention from the industry. The special session offered a number of solutions for taking a leadership position in the fiercely competitive global MICE (Meeting, Incentives, Convention, Event & Exhibition) industry. The session discussed major topics regarding the future growth potential of the industry as well as national competitive capabilities, and featured leading experts from around the world, including MPI President Bruce MacMillan, ICCA President Ray Harry, Professor Kim Dae-gwan of Kyunghee University, and Professor Oh Ik-geun of Keimyung University. Lively discussions on the convention industry's growth potential and strategies for enhancing the competitiveness of the industry took place during the special session.
|
 |
Q. What is the current status and future prospects of the Asian MICE industry?
A. The Asian region includes a number of emerging markets in which demand for MICE will continue to increase rapidly. Rising demand for this industry is inevitable given the meteoric growth of the Chinese and Indian economies as well as the heavy demand already existing in Singapore and Hong Kong.
Q. What is the current status and competitive capabilities Korea's MICE industry and its major components (i.e. convention centers, NTO's, PCO's, and PEO's)?
A. Korea currently has the second-largest MICE industry in Asia. However, we are facing stiff competition from major cities such as Shanghai and Beijing on the eastern seaboard of China. In addition, Chinese convention centers and exhibition facilities massively eclipse both the size and scale of their Korean counterparts, factors that can affect competitiveness in this industry. Large-scale convention centers must be constructed in Seoul to supplement Coex and KINTEX. This is a need that is already well known and acknowledged in the industry. Facility expansion is a crucial long-term requirement for increasing MICE demand in the Seoul metropolitan region.
Q. What are Korea's competitive strategies and solutions for overcoming the stiff competition in the global MICE industry?
A. As already mentioned, facility expansion is a key requirement. A second strategy is to ensure the vested rights for conventions and exhibition products developed in regional convention centers and international conference cities.
Thus, regional specialization to ensure that popular MICE products are not copied wholesale by other regions is necessary. Competition within the country must be discouraged in order to nurture top MICE brands. Legal protection for the rights to an event can offer a solution to combat heated competition between Seoul and regional convention centers. As for a national strategy, the development of MICE products that capitalize on Korea's exiting strengths, such as electronics, shipbuilding and automobiles will provide a solution for overcoming global competitive pressures.
|
|
|
