MICE Industry Market
The MICE Industry Market Report is a key revenue generator for the tourism sector, especially in modern times. The World Tourism Organization states that every year, of the total 10 billion travels, around 14% account for business travel. The MICE vertical, which includes meetings, incentives, conferences, and exhibitions, has become an important pillar in terms of business growth and a direct result of globalization and economic reforms.
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The Major Players Covered in this Report: Maritz, BI Worldwide, Ltd., ITA Group, Inc., One10, LLC, Meetings and Incentives Worldwide (M&IW), Creative Group, Inc., ACCESS Destination Service, 360 Destination Group, CSI DMC, Carlson Wagonlit Travel, IBTM, Capita Travel, BCD Group, Ci Events, ATPI Ltd, Conference Care Ltd, The Freeman Company, The Interpublic Group of Companies, Inc., & more…
MICE Industry Market Segmentation
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- The U.S.
- The U.K
- The Rest of Europe
- South Korea
- The Rest of Asia-Pacific
Central and South America and the Caribbean
- The Rest of Central and South America and the Caribbean
The Middle East
- Saudi Arabia
- The UAE
- The Rest of ME
- South Africa
- The Rest of Africa
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- The popularity of Live-Streaming and Webinars Could Hamper Market Growth in the Coming Years:
Companies are finding it difficult to manage the additional financial burden for MICE events, which is why many companies are pursuing live-streaming and webinars to save time and funds.
An important point to look into is that the MICE industry can only sustain itself when the economy is strong. Otherwise, companies will seek other alternatives, such as conducting live-streaming of meetings and conferences.
- Government Initiatives Targeting Growth of the Tourism Sector:
Brazil, Russia, and India have ramped up their investments in tourism to create a favorable environment for MICE events. Among the developed economies, the U.S., Singapore, Germany, China, the U.K., France, Italy, and Spain have been consistently performing well. The robust tourism sectors in these countries allow the MICE industry to flourish as well, like hospitality, catering, and other services provided to MICE visitors make these countries prime locations for MICE activities.
- How the Location for MICE Events is Decided?
Important factors in deciding the location for MICE events are the location’s core value and relative expensiveness. The location should have connectivity, adequate resources, excellent infrastructure in terms of meeting and accommodation, and an established service sector for support. Moreover, the government should be supportive with regard to the policies and regulations in relation to MICE events and activities.
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