M.I.C.E.- IS THERE MONEY TO BE MADE???

Given the continuing focus on the state of health of global economies, I would like to keep the focus for the month of October on how the M.I.C.E. industry impacts economies and acts as a catalyst for new investments, infrastructure improvements, more spending by travellers etc. The one question that always comes to mind whenever I focus on the "impact" issue is, "Where is the money coming from?". Well, let me just share on example and this involves only 1 company - can you imagine how many companies there are out in the market!

In a recent article published in the New York Times, American International Group (AIG) reportedly agreed to cancel (with immediate effect) all conferences and events it hosts or organises. This number exceeds 160 per year. This cut-back will save the group more that US$8 million. This is just one company's budget.

The impact of the industry is therefore very real and in positive/growth times, the amount of money being generated by the industry can be very intoxicating.