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This article was published by CMW in March 2022.
Events strategy consulting specialists AMR International (acquired by Stax in 2022), in partnership with the Abu Dhabi Convention & Exhibition Bureau, has released a new White Paper for MICE destinations entitled ‘Post-Pandemic B2B Event Subvention Strategies’.
In an increasingly competitive market, the paper calls for MICE destinations to up their game post‑pandemic, both to remain competitive and to attract events that specifically add value to their destinations.
The White Paper is based on research conducted to understand subvention and the role it can play in incentivizing event recovery. The partners’ research work included interviewing 50 industry experts, organizers, convention bureaus and event management companies from around the world.
Denzil Rankine, executive chairman of AMR International tells CMW: “Subvention is a fiercely competitive market. Our research highlights a real need for MICE destinations to up their game post-pandemic, both to remain competitive and to attract events that specifically add value to their destinations.”
Rankine adds, “The challenge is that there is no single ‘right way’ to approach subvention. However, we found taking a tailored and targeted approach within a strategic framework are critical success factors.”
“Schemes vary,” Rankine says, “depending on compatibility requirements with regulatory frameworks and the need to align with a destination’s objectives. Increasingly destinations are choosing to offer a mix of indirect and direct subvention, enabling them to cater to a wide range of organiser needs. However, we found some misalignments between what a destination believes is valuable to an organiser, and what an organiser values.”
This White Paper provides an overview of the findings on subvention, including an outline of different approaches, what drives success, the impact of the pandemic, and the outlook.
The White Paper explains:
- What subvention is, and how it is used
- The current landscape
- Organiser pain-points and needs
- The impact of hybrid events and technology
- Challenges facing MICE destinations
- Evolving approaches for winning destinations
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