With a MICE industry currently worth $150 million per year, more than 60% of Russian corporate meetings are now held abroad, and over 65% of MICE budgets are spent on organising meetings at international destinations, according to recent figures.
As Russian companies look for more exotic venues for their events, international destinations now account for over 65% of their MICE budgets, according to figures released by the Moscow International MICE Forum, a specialised trade show held on 20 March 2008 in the capital of the Russian Federation.
More than three million Russians travel each year on business, a figure increasing by almost 18% per year. It is expected that Russia to make up 3.37% of the global business tourism market by 2016, up from 1.93% in 2006.
Given its proximity, Turkey was the most popular destination in 2007, accounting for 8.5% of the Russian outbound meetings and incentive market, followed by France (7.1%) and Germany (6.4%).
