Smart Travel: MICE Industry’s Positive Impact on Business Travel, Wynn Resorts’ Bigger Better UAE Plans Revealed, Indigenous Tourism Booms and More

October 11, 2024

Al Marjan Island, Ras Al Khaimah, United Arab Emirates

This week, we explore the impact the meetings, incentives, conferences and exhibitions industry sector has had on global business travel, Wynn Resorts’ expanded plans for the UAE’s first casino, the benefits and economic power of Indigenous tourism, new European itineraries by Variety Cruises—and a last-minute chance to score some steep discounts on flights to Dublin, London and Paris.

U.S. and China Drive Business Travel Recovery

A new report by the World Travel & Tourism Council (WTTC) predicts business travel spending will reach a new height of $1.5 trillion by the end of 2024. Key players are the U.S. and China, whose business travel markets have expanded 13.4% and 13.1%, respectively, since pre-pandemic levels.

Business travel has been a key economic driver, thanks in no small part to the power of in-person meetings and events. Julia Simpson, WTTC president and CEO, said, “Business travel is not only back but exceeding expectations. While virtual meetings kept people connected during the pandemic, in-person engagements are proving more critical than ever.”

The strengthening meetings, incentives, conferences and exhibitions (MICE) sector has also made major economic contributions, with businesses worldwide investing more in corporate travel that builds relationships both within teams and extended networks. The growing interest in blended travel, or bleisure, where business travelers extend trips to include personal vacations, has also played a hand in boosting the market.

Wynn Resorts’ New Financial Forecasts for Its UAE Project

On Tuesday, Wynn Resorts debuted a significantly expanded presentation of its UAE casino project to investors and analysts. Wynn Al Marjan Island, located in Ras Al Khaimah (RAK), is projected to open in 2027 and cost $5.1 billion, a $1.2 billion increase from a previous estimate. Wynn also announced it will break ground across almost all of Ras Al Khaimah’s third Marjan Island, Island 3.

Wynn has obtained the first casino license granted in the UAE, opening a new sector of the country’s hospitality market. Wynn Al Marjan Island will be tailored to the ultra-wealthy—which makes sense, seeing as 20% of the world’s high-net-worth individuals are UAE residents (which works out to be 9.7 million people). Meeting profs in search of venues that meet the standards of the most discerning tastes might find a perfect option in the Marjan Island project.

New Report Predicts Indigenous Tourism to Generate $67 Billion for Global Economy

More meeting profs, venues and those in the tourism industry have begun to include Indigenous experiences and perspectives to their events, and they aren’t alone. A new report released by the WTTC revealed Indigenous tourism is projected to contribute $67 billion to the global economy by 2034. The research was presented at the council’s Global Summit in Perth, Australia, and highlighted how remote regions are most likely to benefit from the surge in Indigenous travel. This economic influx can provide tremendous benefits to sustainability, conservation and cultural preservation efforts in those areas, ensuring their protection for generations of visitors.

Whether it be incentives, breakouts, meetings, conferences or other gatherings, industry professionals are finding Indigenous-focused activities and experiences to be a major highlight for many attendees, which has a significant impact on location. “Indigenous tourism is not only about showcasing rich cultural traditions; it’s about empowering communities, creating sustainable jobs, and ensuring that Indigenous people are in control of their own stories and economic futures,” said Julia Simpson, WTTC president & CEO, at the organization’s Global Summit.

Variety Cruises Unveils New European Itineraries for 2025

If you’ve seen an increased presence of European cruise videos on your social media feed, you’re not the only one. A new generation is discovering the uniquely attractive benefits of this travel experience, and Variety Cruises is gearing up to provide top-tier itineraries for booking. The cruise line’s 72-guest Variety Voyager and 34-guest Callisto ships will offer sails through Dubrovnik, Venice, Athens, Malta and several other top destinations, with passengers enjoying 8-day explorations of Italy, Malta, Albania, Croatia, Montenegro, Slovenia and several others.

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Many meeting profs have found smaller cruise vessels to be ideal for incentives, breakouts and meetings. Onshore activity options, location variety and luxury accommodations are additional draws, as are the sustainability benefits of smaller seacraft.

Icelandic Airline Play Launches Major Fall/Winter European Fare Sale

Meeting profs don’t always have the luxury of planning vacations ahead of time, with ever-evolving schedules and shifting deadlines common throughout the industry. But if you just so happen to have an opening this fall/winter, Icelandic airline Play has dropped some major deals for fares to Dublin, London and Paris.

Take advantage of a 20% discount on the below select dates; flights must be booked by Oct. 16, so mark your calendars: