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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global MICE Industry Market Analysis by Region
In Europe, the MICE industry has grown to be a thriving sector that attracts tourists, event planners, and business professionals. With a preference for conventional urban centres, the top 5 meeting locations in Europe are Madrid, Barcelona, London, Paris, and Manchester.
The Asia Pacific region is a prominent emerging region for startups and MSMEs. To promote small-scale businesses and local manufacturing at the international level, the governments are hosting several trade expos and exhibitions and introducing supportive policies.
The United States and Canada have the presence of excellent infrastructure such as convention centres, exhibition halls and other establishments attracting MICE events. Key regions such as Orlando, Florida (FL) and Chicago, Illinois (IL) can host over 200 corporate conferences yearly.
The Middle East and Africa region is a key destination for MICE in sectors, such as pharmaceutical, technology, biotechnology, and consulting. Prominent hotels in the region with conference rooms, such as Millennium Plaza Hotel (Dubai), Crowne Plaza Riyadh Hotel & Convention (Saudi Arabia), and the Westin Cape (South Africa) aid MEA in hosting MICE events.
Growing nearshoring phenomenon in Latin America is supporting the MICE industry market growth in the region. Multiple companies are backing the trend by investing in the opening of new hotels.
MICE Industry Market Report Snapshots
MICE Industry Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of USD 783.7 billion in 2023.
The market is estimated to grow at a CAGR of 6.7% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 1,407.45 billion by 2032.
The increasing reliance on the MICE industry for brand reputation building and network creation, rapid expansion of enterprises and industries, and efforts of organisations towards employee retention are the major market drivers.
The key market trends include the favourable policies of various governments encouraging MICE tourism and growing collaborations between major MICE industry players.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions included in the market report.
The main aim of MICE industry is to provide efficient hospitality to improve operations related to meeting, incentives, conferences, and exhibitions.
Companies of all sizes participate in the MICE industry, with the scale depending upon the budget. For example, while smaller companies may prefer local events, larger companies may plan MICE events at international destinations.
Meetings, conferences, exhibitions, and incentives are the different event types included in the market report.
The key players in the market include IMC International, CSI DMC, 360 Destination Group, Creative Group, Inc., Meetings & Incentives Worldwide, ITA Group, Inc., Maritz Holdings Inc., and The MICE Company, among others.
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