Positive Results for the DTC's Convention Bureau in 2016
The DTC's Convention Bureau has announced very positive results for the past year. Business tourism is performing well
At the start of 2017, the Convention Bureau of Monaco Tourist and Convention Authority (DTC) has announced very positive results for the past year. Business Tourism is performing well in the Principality.
Monaco organises international conferences, seminars, trade fairs, galas and private events and always offers high quality for professionals, especially in Information and Communications Technology; Pharmaceutical Laboratories and the Medical Sector; and Banking, Finance and Insurance.
These three sectors represent 54% of M.I.C.E. business activity (meetings, incentives, conferencing and exhibitions) in 2016, i.e. an increase of 4 points of market share and of +12.6% with regard to the number of overnight stays.
These results therefore affirm Monaco's development strategy, which has been focusing on these sectors since 2013.
In 2016, business tourism activity recorded an increase of +2.70% in comparison with 2015, i.e. almost 3,500 more overnight stays.
The market share also increased by 1.5 points, from 23.5% to 25%. There were notably good results over the winter period, particularly in the month of February, during which the market share reached a record level of 37.5%.
The 60th September Insurers' Meeting ("Rendez Vous de Septembre") deserves a special mention. This event broke all attendance records and shows unparalleled longevity.
In 2016, 27 repeat events were noted, half of which were attended by more than 1,000 participants. Loyal clients now account for 41% of the total overnight stays generated by business tourism and these figures are expected to continue to rise in 2017.
In an uncertain global context, the Monegasque business tourism market has proved particularly resilient. Monaco continues to make its mark with its clients and the leading players in the sector, thanks to its strengths, dynamism and ability to adapt to constant market changes.
The year 2016 was marked by new congresses during the winter, in sectors that are well represented in the Principality (such as ROOMn, a business meeting on digital mobility and the Chefs' World Summit).
The success of these new events, initiated by organisers who are loyal to the Principality (Comexposium and Informa), is a good indication of the renewed confidence of these two groups, which are among the global leaders in events organisation.
As a reminder, the main markets, bearing in mind that the M.I.C.E. market (meetings, incentives, conferencing and exhibitions) is very concentrated, are based mainly on the local European market and the North American market.
France thus accounts for 34.5% of the business tourism market in the Principality, while in 2016 the local market increased by 6 points to 26%.
The contribution of local companies and events agencies is growing constantly. This is indicative of both the excellent dynamic performance of these companies and a synergy of "Destination Teamwork," which is not limited to those involved in business tourism.
The United States, with an increase of 7.5%, now accounts for 11% of the market, with Canada doubling its market share in one year. In 2016, the American continent represented 14% of the market, a level it had not reached since 2012.
The English market has shown a slight downturn since Brexit. Italy, Switzerland and Germany complete the list of major tourism-generating markets.
With regard to new markets, Brazil and Australia were the focus of special efforts by the DTC's representative offices. They have shown some very promising new results.
Finally, the excellent performance of the voluntary sector should be noted, accounting for more than 3,300 overnight stays in 2016. This is the result of a dedicated development plan for the sector, making it possible to host large-scale events during less busy periods.
Monaco Convention Bureau is now a committed, respected player in this sector, in particular because of the position of its Deputy Director, who represents the Principality in key posts in associations such as the ICCA (International Congress and Convention Association), the AIVFC (International Association of French-Speaking Congress Cities) and the Atout France Association and Commission.
The Convention Bureau is a department of Monaco Tourist and Convention Authority. Its mission is to promote the Principality of Monaco to all organisers of business groups. It facilitates the organisation of professional events, thanks to its expertise and knowledge of all the Monegasque players concerned. It centralises requests and coordinates and facilitates exchanges between the various institutions. On behalf of the Prince's Government, therefore, with complete neutrality and free of charge, it offers personalised support to all potential organisers of events in Monaco.