TCEB launches 'Festival Economy' policy to drive the development of festivals with lasting economic, social and environmental benefits

BANGKOK,Dec.11,2020 -- Thailand Convention & Exhibition Bureau (TCEB) has launched a 'Festival Economy' policy to nurture partnerships between professional festival associations and local city governments to co-create new festivals with lasting economic,social and environmental impacts.

TCEB launches ‘Festival Economy’ policy to drive the development of festivals with lasting economic,social and environmental benefits

At the launch on December 1,2020 in Bangkok,TCEB put this policy into action by signing Memorandum of Understanding (MOU) with Phetchaburi province,Ratchaprasong Square Trade Association (RSTA) and Thai International Events & Festivals Trade Association (TIEFA) to jointly work on projects under 'Festival Economy' policy.

'Festival Economy' isthe essential marketing policy that TCEB will use to conceptualise new and high-profile festivals based on city's unique DNA. TCEB envisions that by establishing new ecosystem under Festival Economy concept,such festivals will help attract visitors who havehigh spending power and are seeking for new experience and will therefore lead to invigorate the local economy,stimulate job creation,and spur infrastructure development.

Mrs. Nichapa Yoswee,TCEB Senior Vice President– Business stated that the partnership and collaboration between these associations and city governments are the key that will result in 'One City,One Licensed Event' –the idea that each city has a distinctive signature festival that can be promoted and recognised internationally – within five years. The goals of the 'Festival Economy' policy are to energise the destination city's economy,to enhance the city's reputation,and contribute to the sustainable development of the city.

In tandem with the launch of 'Festival Economy',TCEB has also unveiled a campaign named 'Thailand Power Up' aiming to empower festival owners in order to enhance festivals in Thailand and to maintain international fan base engagement by utilizing technology and online platform. More importantly,this campaign offers three packages that will help all festival owners to overcome the challenges posed by COVID-19.

'Thailand Event Line Up' is a broad-based subsidy scheme for festival organisation. New or existing festivals which are able to create business,social,and environmental impacts are eligible.

'N2N (New to Normal) Tech Savvy' – supports festival owners in acquiring technology and innovation that will help to manage their festivals more efficiently. TCEB also offers MICE Innovation Catalog which contains lists of the technologies available to be selected.

'International Mega Event and Market Penetration' is for festival owners who are lookingtolaunch festivals in Thailand which must include plans for development,adaptation,international promotion,and the rationale of selecting Thailand as the host country.

All packages under 'Thailand Power Up"are open for application until September 2021.

For more information on TCEB's 'Festival Economy' policy and 'Thailand Power Up' campaign,please contact:mgp@tceb.or.th

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About TCEB

A LEADING AGENCY AT THE FOREFRONT OF THAILAND'S MICE INDUSTRY

Established in 2004,Thailand Convention & Exhibition Bureau (Public Organization) or TCEB – the government agency under the supervision of the Prime Minister – has been assigned a role to promote,support and develop business events industry – corporate meetings,incentive trips,conventions,exhibitions,mega events and world festivals. Serving as a strategic partner,TCEB helps deliver creative ideas and solutions to bring success and fulfill the requirements of business events. The overarching goal is to drive Thailand to become a global MICE and mega events destination that can drive the country's strategic industries and national economy.

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