The importance of the MICE industry and business events in South Africa

What is MICE and how does it impact our economy?
During the Meetings Africa conference 2018, it was pointed out that business tourism contributed an astonishing R115bn to the South African economy. These business visitors generally spend more than the usual leisure traveller. This money is most commonly spent at hotels, conference centres, restaurants, country clubs, and convention centres. Together with this, some of this money is spent at nearly every unique venue imaginable. It's obvious that corporate event planning and all that goes with it is a big financial boost for our country. While a few larger corporations have business event planners or are contracted with an event planning agency, many other companies (mostly the smaller companies) utilise someone in HR or another department to plan their business event. 

What are business events? 

There is a fine line between business events and event shows. Business events must measurably change a combination of asset, liability or equity accounts, otherwise, it is not a business event. 
Source: Bizcommunity