IMPACT Muang Thong Thani sees surge in venue bookings for H2 2024 Conducting overseas roadshows and introducing new packages to stimulate the meetings segment and boost Thailand's MICE industry
IMPACT Muang Thong Thani reports a 10% increase in venue bookings for the first half of the year. Overseas roadshows attract large-scale events in efforts to stimulate Thailand's MICE industry. Meanwhile, venue bookings for the second half of the year have surged, with incentive events and concerts being particularly popular. The company foresees profitable growth in 2024, while renovation projects are in the pipeline to cater to evolving customer demands.
Mr. Paul Kanjanapas, Chief Executive Officer of IMPACT Exhibition Management Co., Ltd., the operator of IMPACT Exhibition and Convention Center, Muang Thong Thani, said "Since the beginning of this year, Thailand's MICE industry (Meetings, Incentive Travel, Conventions, and Exhibitions) has experienced significant growth across all types of events, including concerts, trade shows, conferences, and seminars. In the first half of 2024 alone (January-June 2024), the number of events held at IMPACT Muang Thong Thani increased by 10% compared to the same period last year. This growth was primarily driven by a notable increase in conferences, seminars, and incentives, a trend that has continued into the second half of the year (July-December 2024) with strong bookings. The incentives segment, in particular, has shown impressive growth, with bookings increasing by 58% compared to the same period last year, while concert bookings have increased by 40%. Given this positive growth trajectory, the overall number of events in 2024 is expected to grow by 14% compared to 2023. And this year's revenue is also projected to rebound to 2019 levels."
In the second half of this year, IMPACT Muang Thong Thani has several major events lined up. Some of the highlights include National Science and Technology Fair 2024 (August 16-25), 20TH ANNIVERSARY 2024 KIM JAE JOONG ASIA TOUR CONCERT "FLOWER GARDEN" (August 21), SUMMER SONIC BANGKOK 2024 (August 24-25), The Concert Presents GFest Marathon Concert 2024 (August 24-25), GEMINI FOURTH RUN THE WORLD (August 31-September 1), Jessica Jung (Diamond Dreams Concert Tour) Bangkok 2024 (August 31), Thailand International Woodworking & Furniture Exhibition 2024 (September 18-20), the 14th SmartHeart presents Thailand International Pet Variety Exhibition 2024 (October 3-6), JJ LIN "JJ20" WORLD TOUR-BANGKOK (October 5), Environmental and Waste Management Expo 2024 (November 13-15), DigiTech ASEAN Thailand & AI Connect 2024 (November 20-22), DronTech Asia 2024 (November 25-27), and the 41st Thailand International Motor Expo 2024 (November 29-December 10).
IMPACT will be intensifying the efforts to penetrate both domestic and international MICE market. For the international market, the company will be conducting roadshows at major events in several countries, such as China and India, while attracting new event organizers to hold trade shows and incentive events at the center.
For the domestic market, IMPACT will be focusing on the meetings and seminars segments by offering a variety of packages to encourage decision-making among organizers in the second half of the year. Examples of these packages include the Meeting @IMPACT package, the Fanclub Meeting package tailored for exclusive events where fans of artists can get together and create unique fan experiences, and the "Absolute Live" package that offers organizers the flexibility to create customized event spaces for various purposes, such as concerts, trade shows, and large-scale conferences.
"Overall, Thailand's MICE industry has experienced significant growth this year. With event organizers returning to host more events, the number of events held at the center has also increased. Additionally, the number of both domestic and international attendees has shown an upward trend. This is a positive sign for the industry."
According to Mr. Paul, IMPACT is currently experiencing a steady stream of bookings for the second half of the year. Looking ahead to 2025, the number of events held at the center is expected to increase further due to the completion of the Pink Line extension in mid-2025. This is anticipated to lead to a growth in the number of visitors to the area. As a result, some areas of the center are undergoing renovations. Moreover, construction is currently underway for a new pedestrian bridge connecting the lobby of Challenger Hall 1 to enhance convenience for visitors. The construction is now 38% complete, with completion expected in March 2025, coinciding with the opening of the Pink Line extension.
Additionally, more new spaces will be added to cater to changing consumer preferences and behaviors. For example, "IMPACT Common Space", which is a new co-working and meeting space located at Hall 10. The food court and retail areas are also being renovated to better suit consumer lifestyles.