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The future of the MICE sector What will happen after 2021?

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The recovery of the MICE sector in 2021 will be slow, but with good expectations, according to the World Trends Watch Report. Sustainability, security and the incorporation of virtual experiences are the keys to understand why this sector, far from sinking, is proclaimed as the main driver of the Spanish economy in 2022 . So today we bring you our vision on the Future of the MICE sector.

The MICE sector, and especially that of Barcelona, will reach higher levels than in 2019, and a year ahead of the entire European Union. This was stated by Sònia Serracarbasa, director of the Catalonia Convention Bureau, during the third edition of the Virtual Meeting of the MICE Forum .

2021, a year to take off again

The pandemic caused the forecast for the global economy in 2020 to fall by 2.5% more than expected. However, with the advent of vaccines the world seems to be starting to work again, which has led experts to estimate a growth of 5.4% by the end of 2021. In fact, in the sector in question, reinvention is already beginning to make itself felt, especially through risk management and the adoption of more flexible measures for both employees and customers.

This transformation is due, in part, to the generational change of the teams the work, since little by little, the millennials have managed to lead part of the initiatives related to the organization of events, and their decision making has implied an important change in the value acquired by the experiences. The pandemic has caused us to rethink how social relationships should be established, and new workers have arrived to create content with an innovative and focused approach to profit from their events.

Currently, 92% of millennials seek experiences through influencers, and around 60% of the population ends up buying or trying a product that they have promoted on their social media profiles. The influencers have become the audience referents, especially the younger ones, and therefore their ability to sell an experience is now becoming a communication strategy,also in the events sector. A clear example is cosmetics brands, which are recently opting for social meetings or meetings between characters in this sphere, which, through their voice, allow them to make a more or less powerful speech, depending on their visibility in the world of networks.

Future MICE Sector

Likewise, measurement and virtuality are other elements that are shaping the future of events and are driving the transformation that the sector is undergoing. A transformation that, although it is not yet being felt, will hit hard at the end of the year, and will reform the conception of what it means to experience an event. In this sense, the Future of the MICE sector points in the same direction, because at the end of the day, the aim is to have a positive impact on the industry.

Hybrid events, the future of the MICE sector

The current situation marked by uncertainty undoubtedly gives rise to the search for new formulas to avoid being left behind. Hybrid events are expected to be one of the top trends in the industry in 2021. The combination of presence and virtuality, for example in streaming format, offers attendees a dynamic experience that allows them to enjoy and participate in the event through different resources and tools. Some of the advantages that make this type of events potential to attract the public are:

  • Increased economic profitability
  • Event measurement and easier to analyze impact
  • Increased real-time feedback
  • Attractiveness to new audiences vs. current virtual events

Valkria Hub Space on-site event

Valkiria Hub Space is adapting to this new event format, and has made changes in the way it creates experiences. To begin with, we have invested in a larger infrastructure, installing a 25-square-meter chroma key to enhance the monitoring of the sector’s activities. We have also launched the Afterwork transmedia project, with the intention of establishing links with the MICE community and disseminating the concept of a new way of organizing events. The fact that on-site presence cannot be present now is not synonymous with stagnation or paralysis of the sector, but rather it is a new opportunity to innovate and reinvest. The importance of reflecting on the Future of the MICE Sector is what generates new ideas, projects and experiences for everyone.

The evolution of online events

Virtual events are not a thing of the future, they are the present. There are many brands, some of them of great recognition, that have bet for this type of events adapting to the new situation that we live day by day. Choosing to continue doing events, albeit without the face-to-face factor, provides an opportunity for these companies to continue to connect with their community. See some examples here:

  • Tomorrowland Around the World

One of the things we miss the most is shouting and dancing to the music of our favorite artist(s). The electronic music festival “Tomorrowland” is one of the most popular events in the world, and annually brings together more than 2 million people in an event that lasts 3 days, and where the music does not stop playing. However, while the situation does not allow us to meet, the festival has chosen to reinvent itself, and last year offered a virtual reality streaming with 8 different stages: “Tomorrowland Around the World”. In addition to music, guests were also able to enjoy workshops, seminars and games related to lifestyle, fashion and gastronomy.

Digital event

  • Corona 2020 House

The “Corona” beer brand was accustomed to meeting its public on bar terraces. Now, with the pandemic , it has found a new way to meet, and from the comfort of our couch at home. Proof of this is that he organized a streaming where there were music sessions, online cooking courses, and even dance classes! All this was accompanied by a pack of Corona beer that was sent to all the guests to enjoy during the event.

  • Barcelona Fashion Week 2021

Barcelona Fashion Week is one of the most popular fashion events in the Catalan capital. In this year’s winter edition, they opted to offer a parade, with the novelty that everyone could access it. This article from ELLE Spain magazine explains how it was carried out, as well as including an audiovisual summary of the event.

Barcelona Fashion Week MICE

  • The superagenda.com

In this case, superagenda.com is not an online event, but a portal that organizes them. Among some of the experiences it already offers is the availability of attending an Estopa concert from home, or watching a Pop Wizard show without going to the theater. We leave here the link in case you want to hire some of the services available.

 

 

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