Quarter of businesses allocate half their travel budgets to MICE

State of the Market survey results prompt $20m global investment

More than 25% of FCM Meetings & Events’ customers allocate half their travel budgets to the MICE sector, according to the company’s global State of the Market survey.

The research, conducted online over six weeks, targeted Corporate Traveller and FCM Travel customers - decision-makers, travel managers and authorised travel bookers. 

The first-of-its-kind survey, undertaken by Flight Centre Corporate, revealed a substantial portion of customers allocate more than half of their travel budget to the sector.

For Flight Centre Corporate customers in EMEA, 23% 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,” said Frits De Kok, Head of FCM Meetings & Events, EMEA. 

“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.

“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. 

According to De Kok, the company is ‘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’.

FCM Meetings & Events Global General Manager, Simone Seiler, said the findings came 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.

“Globalising the FCM M&E business will allow us to add consistency and scale for customers looking for a global meetings and events provider, with hub offices in all four regions, global consistency but with local nuance to understand specific client needs,” Seiler said.

“FCM M&E is targeting exponential growth and we’re already expanding into the likes of United Arab Emirates and South Africa – which will allow us in future to expand our workforce to the more than 365 that we already have servicing our valued customers.”

The survey results come as FCM M&E announced a $20 million global investment to target worldwide growth for this segment of the business.