Virtual events pose monetisation challenge for MICE industry

Online, hybrid events need same amount of preparation as physical ones, but clients are less willing to pay same price.

Tue, Nov 24, 2020 - 5:50 AM

Hybrid events, such as this one at the Singapore International Energy Week, involve complex planning since the onsite and online experience have to run in precise synchrony.

PHOTO: ENERGY MARKET AUTHORITY

WITH virtual and hybrid events serving as the meetings, incentives, conventions and exhibitions (MICE) industry's only lifeline in the Covid-19 crisis, companies are grappling with the challenge of turning a profit from these event formats for longer-term survival.

Although the shift...