Overview:
In the context of tourism, MICE is the short form for meetings, incentives, conferences, and exhibitions. It is a type of planned tourism in which large groups of employees, employers, professionals, or students are brought together. MICE is also referred to as meetings industry or events industry by many. In MICE, meeting is a common term that indicates the coming together of many people in one place to execute a particular activity. The event usually takes place in a hotel, convention center, or any other suitable venue. Incentive is a group outing of the employees of a company or the participants of a meeting for entertainment. It is more like a reward for a previous performance. A conference is a big event and a type of meeting that takes place for discussing, fact finding, consultation, and problem solving. An exhibition is an important event in which an organization displays its products and services.
MICE agents offer and organize a range of travel and conference services for small and large groups of professionals. These events can be of short or long duration. MICE market personnel and businesses include corporate meeting planners, food and beverage managers, conference centers or cruise ships, logistics firms, meetings and convention departments in hotels, incentive houses, private tour operators and transfer companies, tourism boards, and more. MICE travel agencies organize and plan events in a professional manner and well in advance. Therefore, they are usually affiliated with large corporations. They also have some fixed destinations or MICE locations for events. Report analysts anticipate that the global market for MICE will grow at an impressive rate over the forecast period.
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Key Players
The latest report found on WGR, on the global MICE market has mentioned several noteworthy players ruling the MICE market. This list includes various prevalent vendors as well as new entrants.
PT Pamerindo Indonesia
Pamerindo
GEM INDONESIA
Debindo-ITE
MELALI MICE
Indonesian Congress and Convention Association
Indonesian Exhibition Companies Association
Indonesia Hotel and Restaurant Association
Association of The Indonesia Tours & Travel Agencies
Society of Indonesia Professional Convention Organizer
Segmentation:
The global market for MICE is segmented by types and applications.
Based on types, the market is divided into meetings, incentives, conferences, and exhibitions.
Based on applications, the market is divided into business field, academic field, political field, exhibitions, and others.
Regional Analysis:
The report considers five main regions for analyzing the global market for MICE. These include North America (The United States, Canada, and Mexico), South America, Europe (Germany, France, Italy, UK, Russia, Spain, and the rest of the region), Asia-Pacific (India, China, Japan, South Korea, Australia, and the rest of the region), and the Middle East and Africa (South Africa, Saudi Arabia, and the rest of the region).
North America and Europe are the most important regions with a good percentage of the global MICE industry share. Asia-Pacific is expected to grow at the fastest rate during the forecast period, thanks to emerging countries such as China, India and Singapore. Moreover, the region has minimum visa restrictions and the infrastructure has also improved over the years. There is also a high demand for commercial aviation that further promotes the growth of MICE industry. Business travel sector has also grown in the past decade and many countries in this region are offering profitable business opportunities for investors.
Industry News:
To connect business opportunities in Latin America, the annual event LAMITE was organized by MICE at the Planet Hollywood Beach Resort in Costa Rice in the month of June 2019.
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