by Matt Alderton | November 28, 2012
Next year, Reed Travel Exhibitions (RTE) will add a seventh trade show to its IBTM portfolio of incentive, business travel and meetings industry events when it introduces IBTM India, debuting Sept. 12-14, 2013, at the Grand Hyatt in Mumbai, it announced today.

"India holds enormous potential for the MICE industry with a projected GDP growth of over 8 percent in the next five years," said Craig Moyes, director of RTE's IBTM meetings and events portfolio. "The world's third largest economy is also showing an increase in outbound business … with projections of a 13 percent increase in the coming years. There is also a strategic plan of commitment from the India Ministry of Tourism for the development of new convention centers and a significant number of global hotel chains are now focusing on new facilities and venues to support the MICE industry."

IBTM India joins six other events in RTE's IBTM portfolio of events, including AIBTM in the United States, EIBTM in Europe, GIBTM in the Middle East, CIBTM in China and AIME in Australia, as well as the United Kingdom's Business Travel Market. Its inaugural show will include 100 MICE and business travel suppliers from international and Indian hotels and venues, national/state tourism boards, travel and destination management companies and airlines. Like all IBTM events, a proportionate number of senior decision makers from associations and corporations around the world will be invited as hosted buyers.

"The meetings and incentives market is possibly the most important segment of the travel industry today," said Anup Nair, president of the Society of Incentive Travel Executives' (Site) Site India Chapter, which plans to partner with RTE in order to provide education for the event. "With positive growth trends in the Indian economy and the increasing competition in the manufacturing and services sectors, India presents a potentially lucrative market. This has brought many international corporations to India and a burgeoning workforce that offers a huge market for motivational experiences. It is my opinion that the outbound and inbound MICE segment in India needs professional education and training to enable it to deliver quality programs. In association with Site Global, we in the Site India Chapter plan to develop quality professionals. IBTM coming to India and partnering with the Site India Chapter will give the right impetus to this drive. We welcome this initiative by … Reed Travel Exhibitions."

For a recap of last week's top stories, check out MeetingNews Minute: