The Economic Times: May 02, 2012
New Delhi: Germany has emerged as the most preferred destination for India's corporate sector. According to a survey conducted by Synovate Business Consulting on the Indian outbound MICE (meetings, incentives, conferencing, exhibitions) market, which was commissioned by the German National Tourist Office (GNTO), India, 62% of the Indian corporate companies have chosen Germany as the most preferred destination for business-related travelling.
The report states that out of the mid-sized and large corporate companies who have organized MICE trips in Europe during 2010-11, 73% opted for Germany, followed by 52% for the United Kingdom. The most preferred city for business-related gatherings was Frankfurt with 54% companies voting for it, followed by Berlin at 51% and Munich at 44%.
The report highlights lower hotel rates and carrier options in Europe, robust infrastructure, reliable and professional partners, superior technology and good-quality service as key factors driving Germany's success as a business travel destination.
Indian outbound MICE market was estimated to be around USD 550-600 million in 2011. It grew strongly and resulted in an outbound trip volume of 6.2 million, with around 1.5-1.8 million passengers travelling outbound only for MICE. Industry verticals like Pharmaceutical, Cement, FMCG, IT and Financial services are the major contributors to the Indian outbound MICE sector.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.