FCM Meetings & Events (FCM M&E), revealed that more than a quarter of customers allocate half their travel budgets to the MICE sector, according to its landmark global State of the Market survey.
The results of this survey come as FCM M&E announced a $20 million global investment to target worldwide growth for this segment of the business.
The survey, undertaken by Flight Centre Corporate, shows a substantial portion of customers allocate more than half of their travel budget to the MICE sector.
For Flight Centre Corporate customers in EMEA, 23 per cent per cent of businesses said more than 50 per cent of their budget goes towards travelling for MICE, with an additional 8 per cent revealing an allocation of between 25-50 per cent of their travel spend goes towards the MICE sector.
“Over the past couple of years, we’ve been on an incredible journey to refine and strengthen our meetings and events offering globally and in Europe. We know the growth potential for this segment is unparalleled and that is why we’re investing so heavily in it. This $20 million global investment is a testament to our commitment to driving innovation and results in this space, said Frits De Kok, Head of FCM Meetings & Events, EMEA.
“Our focus has been on building an end-to-end solution that seamlessly integrates event management with travel management, offering a cohesive approach for our clients navigating the complexities of a hybrid world. We are strategically investing in our people and technology, ensuring that we have the right teams in key locations across Europe, including the Nordics, Spain, and France, with an eye on expansion into South Africa and Dubai in early 2025,” De Kok said.
The findings come at a time when the business was repositioning worldwide to deliver a unified offering, leveraging itself as a subsidiary of FCM Travel, and harnessing its global scale, but with regional customisation.