Khon Kaen is getting closer to becoming the meetings, incentives, conventions and exhibitions (Mice) hub for the Northeast of Thailand and neighbouring countries after the opening of a new convention centre by SET-listed CP Land Plc later this year.
Phuriwat Limthavornrat, president of the Association of Domestic Travel (ADT) and managing director of P. Incentive Tour Event Co, which specialises in Mice and business familiarisation trips, said Khon Kaen's huge population and high economic growth give it the potential to become the Mice hub in the Northeastern region.
Many giant companies and organisations have entered Khon Kaen to establish their regional offices such as Bank of Thailand and Thai Life Insurance. Sripatum University plans to expand its campus to the northern province and leading real estate companies have launched condominium projects in the area.
CP Land, a real estate company under Charoen Pokphand Group, will open its Khon Kaen International Convention and Exhibition Center (Kice) on Dec 1.
"Once the new convention and exhibition centre opens, Khon Kaen can draw in more business events from nearby provinces nearby and also from Cambodia, Laos, Myanmar, and Vietnam," Mr Phuriwat said.
Kice is being constructed on a 28-rai plot with an investment of nearly 2 billion baht on 15,000 square metres of space.
CP Land's managing director Naravadee Waravanitcha said Kice will become the biggest convention venue in the province in terms of space, and the third-largest convention centre in Thailand after Impact Muang Thong Thani and Bangkok International Trade and Exhibition Center.
According to the company's study, Khon Kaen comprises 2 million population and has the highest annual income per head in the region with 76,055 baht.
Out of total 22 million people living in the Northeast, 14 million of them (the population of Bangkok and its outskirts) can drive to Khon Kaen in under two hours.
Five major airlines operate in Khon Kaen, with a total of 38 flights a day.
There is only one big convention centre in the market: Golden Jubilee Convention Hall at Khon Kaen University, which has not been commercialised.
Thailand Convention and Exhibition Center (TCEB) has been promoting Khon Kaen as a Mice city, along with Phuket in the South, Chiang Mai in the North and Pattaya on the Eastern Seaboard.
"We're confident that our new centre will foster Mice businesses locally as well as from Bangkok," Ms Naravadee said.
Krit Lekhaka, director of Kice, said 26 business events have confirmed to use of the centre between December this year and January 2018. Most events are consumer fairs and corporate events. Each booked consumer fair is expected to attract 20,000 visitors.
The company aims for an average occupancy rate of 30% in the first year of operation and will 50-60% in 2020-21. Revenue is forecast at 120 million baht in the first year and 360 million baht in the next 3-4 years.
Mr Krit said the company plans to spend 300 million baht to build a 150-room hotel next to the convention centre.