Thailand Propels Business-Oriented Thai Festivals

TCEB is targeting festival sector to drive growth of Thai MICE industry. Partnering with 4 associations, the bureau will develop Thai festivals into a platform of business, attracting high-spenders and making Thailand a festival destination of global scale.

Following 5 years of grooming and supporting Thai festivals under “Festival Economy” initiative, Thailand Convention and Exhibition Bureau (TCEB) announced during its recent press conference in Bangkok that it is joining hands with 4 associations to enter phase 2 of the initiative by uplifting Thai festivals into business festivals. This is where business to business or B2B platform is created for people in festival industry to meet and get involved in business transaction for festival products and services.

The 4 partner associations are Thailand International Events and Festivals Trade Association (TIEFA), Thai Mass Participation Sports Trade Association (TMPSA), Thailand Entertainment Creators Network Association (TECNA) and Contemporary Art & Culture Industry Promotion Trade Association (CAPT). Each has its own festivals targeted for inclusion of business-to-business (B2B) elements.

Mr. Chiruit Isarangkun Na Ayuthaya, President of TCEB, stated that the initiative of business festivals is aligned with the Thai government’s policy to make Thailand a host of international festivals and a destination that attracts business travelers. It is also a response to the global trends where the conventional nature of festivals becomes diversified.

Festivals will not be a mere gathering of like-minded people but a vehicle that drives festival business or other related business both locally and internationally. The festivals in Thailand can be transformed into an engine that powers the economy measured not only in terms of visitors’ spending but also in terms of traded value of products and services. Festivals can become a platform of high-spending travelers.

“The digital content of Thai creators featured in digital festival in Thailand can be traded by overseas clients or the artwork of Thai artists displayed at the festival can be hired for the exhibit overseas.”

The execution of this initiative by TCEB and partner associations is, however, not limited to the sole focus on B2B element but also on bidding and the development of festival academy.

The bid for world festivals, if won, is a platform for Thai festival organisers to get first-hand experience and inspiration from festivals of global caliber and possible network with overseas peers. The festival academy is a platform for nationwide festival organisers to share experiences, get inspiration, form collaboration and network both domestically and globally, thus, enhancing their competency.

"Business element, bidding and festival academy are three pillars of the phase 2 of our Festival Economy that will generate revenue, create network and enhance competency for festival industry in Thailand. With all these, Thailand can become a festival destination of global scale," added Mr. Chiruit.

TCEB has over 30 festivals under its support scheme in 2024. They will attract 2.3 million travelers, both Thai and overseas. These festivals are expected to generate economic benefits of at least 3.6 billion baht in value and contribute over 5.8 billion baht to Thailand's Gross Domestic Product (GDP).