Tourvest MICE 2024 performance and 2025 predictions

The MICE sector is thriving given that Tourvest MICE achieved unprecedented growth in this past year and we managed to deliver a very healthy double-digit increase on EBITDA.

We have certainly benefited from our clients’ efforts at rebuilding organisational culture and productivity post Covid with the increased demand for planning/strategy meetings, group dining experiences and award celebrations where clients get to reinforce both their culture and their values with their various stakeholders, including employees.

From the incentive travel perspective, 2024 saw a more cautious approach to choosing destinations due to the dynamic geopolitics around the world, what with more than half of the globe holding elections, on top of the war and unrest in Ukraine and the Middle East region. In exercising their duty of care for their employees, our clients were therefore looking for destinations with more stability and security.

Looking to 2025, we see the biggest trend that will impact meetings and events being technology and AI (Artificial Intelligence).  As a sub-division of Tourvest Travel Services (the founders of TravelIT), naturally, technology plays a big role in our business processes which guide our productivity, efficiencies, financial performance of the business as well as individual performance.

Our technology remains the driving force behind data-driven insights we deliver to clients, thus helping them plan for their next event.  Our tech environment enables us to ensure smooth operations, boost attendee engagement, and enhance financial returns.

The tech space is particularly exciting for us at Tourvest MICE as we look to officially launch our own event management platform that will rival all the current tools in the marketplace.  Watch this space!

From a destination perspective, we see a surge in interest in Africa itself as an incentive destination which is, in the end, a more cost-effective choice for those clients that want to avoid the inherent cost of long-haul flights.  The interest in Southern Africa overall is positive news for the region with Mauritius topping the list.  Additionally, we see a sharp increase to South America given the recent positive developments in flight connectivity to that region.  We will be hosting large groups to Brazil and Argentina.

In terms of the experiences that clients are looking for, authenticity and sustainability are key considerations.  From the actual travel programme, conferencing programme, from food to activities to gifting.  There’s a lot of support for small business, locally owned businesses and something that’s truly authentic to that environment/destination.  So, we help clients set achievable sustainability goals for their meetings, events, and conferences and destinations in-country.

Last, but not least is the shift towards employees empowering themselves in diversifying their own skill-set.  Tourvest MICE is a woman-led and managed outfit, making it easier to ensure that everyone in the team achieves or strives towards a healthy balance between the hard work, family and health.  I see this trend continuing.