Market Overview:
The global MICE tourism market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The market growth is attributed to the increasing demand for MICE tourism by business travelers and tourists. In addition, the growing popularity of experiential travel is also contributing to the growth of the global MICE tourism market. The global MICE tourism market can be segmented on the basis of type, application, and region. On the basis of type, the global MICE tourism market can be divided into inbound meetings, incentives, conferences, and exhibitions (MICE). Inbound meetings are projected to account for a major share in terms of revenue in 2018 owing to rising demand from corporate travelers for conducting business meetings abroad. The exhibition segment is anticipated to grow at a high CAGR during forecast period due to increasing number of trade shows and exhibitions being organized across different regions worldwide. On the basis on application; hotel sector accounted for majority share in 2017 due higher spending by business travelers on accommodation during their stay for attending various events or conventions . However , traffic sector would register highest CAGR over next few years as it offers lucrative opportunities with respect ot development o f infrastructure globally . Regionally; North America held largest revenue share followed by Europe in 2017 .
Product Definition:
MICE tourism is the abbreviation for "meetings, incentives, conventions and exhibitions". It is a type of tourism that involves people travelling to a place specifically to attend a meeting, convention, trade show or exhibition. MICE tourism can be very important for economies as it can bring in large amounts of money.
Inbound Meetings:
Inbound meetings is a term used for the event that takes place in a city where all the participants gather at one location and then move to another location for further activities. The meeting may or may not be related to business. It can also be called as traveling or tour meeting.
The concept of inbound meetings was initiated in North America, especially U.S.
Incentives:
Incentives are a form of marketing tool used to influence buyers to take certain action. The action could be the purchase of a product or service, signing up for a particular loyalty program, or participation in an activity. Incentive programs are based on two key factors: (1) the object being offered and (2) the motivation or reason for offering it.
The most common types of incentives include cash.
Application Insights:
The global market is segmented by application into hotel, traffic, retail, and entertainment. The hotel segment dominated the market in 2017 owing to increasing demand for luxury hotels during business meetings and incentives offered by the hotels. Furthermore, rising demand for 5-star MICE tourism resorts as they offer a more luxurious experience along with world-class service has driven the growth of this segment significantly over the past few years.
The traffic application is expected to witness significant growth over the forecast period due to its rising popularity among corporate travelers as well as individuals traveling on a budget trip. Traffic offers an economical way of experiencing local culture while traveling through guided tours in open air buses or mini coaches that provide commentary on famous monuments and historical places located throughout various cities around Asia Pacific region including Singapore Malaysia Philippines Bangkok etcetera).
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to continue its dominance over the forecast period as well. This can be attributed to growing business process outsourcing (BPO) activities in emerging economies of India and China, which has led to an increase in incentives for meetings and incentive travel by corporate entities from around the world. Furthermore, increasing number of trade shows & conferences being held across Asia Pacific is also contributing towards market growth.
North America emerged as the second most popular regional segment owing to high concentration of multinational companies headquartered in U.S.
Growth Factors:
- Increasing globalization and the rise of business travel: as businesses become more globalized, the need for employees to travel to meet with clients and partners increases. The MICE tourism market is benefiting from this trend.
- The growth of online booking platforms: as consumers grow more comfortable making bookings online, they are turning to online platforms to find and book MICE tourism packages. This is helping to drive growth in the market.
- The increasing popularity of experiential travel: consumers are increasingly looking for unique and memorable experiences when they travel. This is providing opportunities for MICE tourism providers to offer innovative products and services that appeal to this segment of the market.
Scope Of The Report
Report Attributes
Report Details
Report Title
MICE Tourism Market Research Report
By Type
Inbound Meetings, Incentives, Conferences, Exhibitions
By Application
Hotel, Traffic, Retail, Entertainment
By Companies
ATPI, Capita Travel and Events, IBTM Events, CWT Meetings & Events, Interpublic Group, BCD Meetings and Events, Cievents, Grass Roots Meetings and Events, Questex
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global MICE Tourism Market Report Segments:
The global MICE Tourism market is segmented on the basis of:
Types
Inbound Meetings, Incentives, Conferences, Exhibitions
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hotel, Traffic, Retail, Entertainment
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ATPI
- Capita Travel and Events
- IBTM Events
- CWT Meetings & Events
- Interpublic Group
- BCD Meetings and Events
- Cievents
- Grass Roots Meetings and Events
- Questex
Highlights of The MICE Tourism Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Inbound Meetings
- Incentives
- Conferences
- Exhibitions
- By Application:
- Hotel
- Traffic
- Retail
- Entertainment
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the MICE Tourism Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Some of the major companies in the mice tourism market are ATPI, Capita Travel and Events, IBTM Events, CWT Meetings & Events, Interpublic Group, BCD Meetings and Events, Cievents, Grass Roots Meetings and Events, Questex.
The mice tourism market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 MICE Tourism Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 MICE Tourism Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 MICE Tourism Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the MICE Tourism Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global MICE Tourism Market Size & Forecast, 2018-2028
4.5.1 MICE Tourism Market Size and Y-o-Y Growth
4.5.2 MICE Tourism Market Absolute $ Opportunity
Chapter 5 Global MICE Tourism Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 MICE Tourism Market Size Forecast by Type
5.2.1 Inbound Meetings
5.2.2 Incentives
5.2.3 Conferences
5.2.4 Exhibitions
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global MICE Tourism Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 MICE Tourism Market Size Forecast by Applications
6.2.1 Hotel
6.2.2 Traffic
6.2.3 Retail
6.2.4 Entertainment
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global MICE Tourism Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 MICE Tourism Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America MICE Tourism Analysis and Forecast
9.1 Introduction
9.2 North America MICE Tourism Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America MICE Tourism Market Size Forecast by Type
9.6.1 Inbound Meetings
9.6.2 Incentives
9.6.3 Conferences
9.6.4 Exhibitions
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America MICE Tourism Market Size Forecast by Applications
9.10.1 Hotel
9.10.2 Traffic
9.10.3 Retail
9.10.4 Entertainment
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe MICE Tourism Analysis and Forecast
10.1 Introduction
10.2 Europe MICE Tourism Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe MICE Tourism Market Size Forecast by Type
10.6.1 Inbound Meetings
10.6.2 Incentives
10.6.3 Conferences
10.6.4 Exhibitions
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe MICE Tourism Market Size Forecast by Applications
10.10.1 Hotel
10.10.2 Traffic
10.10.3 Retail
10.10.4 Entertainment
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific MICE Tourism Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific MICE Tourism Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific MICE Tourism Market Size Forecast by Type
11.6.1 Inbound Meetings
11.6.2 Incentives
11.6.3 Conferences
11.6.4 Exhibitions
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific MICE Tourism Market Size Forecast by Applications
11.10.1 Hotel
11.10.2 Traffic
11.10.3 Retail
11.10.4 Entertainment
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America MICE Tourism Analysis and Forecast
12.1 Introduction
12.2 Latin America MICE Tourism Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America MICE Tourism Market Size Forecast by Type
12.6.1 Inbound Meetings
12.6.2 Incentives
12.6.3 Conferences
12.6.4 Exhibitions
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America MICE Tourism Market Size Forecast by Applications
12.10.1 Hotel
12.10.2 Traffic
12.10.3 Retail
12.10.4 Entertainment
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) MICE Tourism Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) MICE Tourism Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) MICE Tourism Market Size Forecast by Type
13.6.1 Inbound Meetings
13.6.2 Incentives
13.6.3 Conferences
13.6.4 Exhibitions
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) MICE Tourism Market Size Forecast by Applications
13.10.1 Hotel
13.10.2 Traffic
13.10.3 Retail
13.10.4 Entertainment
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 MICE Tourism Market: Competitive Dashboard
14.2 Global MICE Tourism Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ATPI
14.3.2 Capita Travel and Events
14.3.3 IBTM Events
14.3.4 CWT Meetings & Events
14.3.5 Interpublic Group
14.3.6 BCD Meetings and Events
14.3.7 Cievents
14.3.8 Grass Roots Meetings and Events
14.3.9 Questex
