The World Trade Centers Association (WTCA) underscored the significance of business activities such as meetings, incentives, conferences and exhibitions (MICE) in reinforcing collaborations to boost regional trade and cross-border investments.
WTCA vice president for Asia Pacific Scott Wang underscored the organization’s close relations with members and partners such as the Philippines during a visit to the World Trade Center Metro Manila in Pasay City.
“Serving as the local business hub that is linked to the WTCA global network, individual WTC operations provide companies around the world with the expertise and connections that are critical for market penetration. The WTC teams also work diligently to match the needs of companies with the best service providers in their respective local marketplaces,” Wang said.
He said WTCA aims to strengthen international cooperation and generate investment opportunities by leveraging its global network and leading trade services.
Wang cited as example the recently concluded 54th annual WTCA Global Business Forum (GBF) in Bengaluru, India.
The event brought together local business leaders, WTCA members, international B2B delegates and attendees from 36 countries to explore regional business opportunities and forge new global connections.
WTCMM chairperson and chief executive Pamela Pascual said MICE stimulates the flow of local products, attracting foreign investments and generating local employment through major trade shows, exhibitions, and networking events.
“We continually host major industry events at WTCMM. Through partnerships with other WTCs across Asia and beyond, local businesses successfully connect with foreign counterparts and international buyers. We also plan to expand to other locations within the Philippines to support WTCA’s ‘Road to 500’ initiative,” she said.
A global report released in 2023 revealed that exhibitions generated a significant economic impact even before the pandemic with $82.3 billion contribution to the gross domestic product (GDP), supporting over 1.4 million direct jobs globally.
The Asia Pacific region ranked third behind North America and Europe, with $17.6 billion in direct GDP and 394,000 direct jobs attributed to exhibitions.
WTCMM is the Philippines’ sole exhibition center recognized by UFI as a world-class exhibition venue.