Conference Tourism Market Size, Trends and Insights By Service (Transportation, Food and Lodging, Recreation, Others), By Venue Type (Convention Centres, Hotels & Resorts, Others), By Event Size (Small-Scale, Medium-Scale, Large-Scale), By Location (International Conferences, National/Regional Conferences, Local Meetings), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Marriott International Inc.
- Hilton Worldwide Holdings Inc.
- AccorHotels
- InterContinental Hotels Group PLC (IHG)
- Others
Reports Description
As per the current market research conducted by CMI Team, the global Conference Tourism Market is expected to record a CAGR of 10.1% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 625.6 Billion. By 2032, the valuation is anticipated to reach USD 1,487.2 Billion.
International Tourist Trips by Region of Origin
| Region | 2020 | 2021 |
| Europe | 32,57,07,740 | 36,43,72,900 |
| Americas | 7,09,16,950 | 8,42,60,584 |
| Middle East | 1,37,62,700 | 1,97,30,016 |
| Middle East | 1,37,62,700 | 1,97,30,016 |
| East Asia and the Pacific | 4,78,16,400 | 1,84,34,410 |
Source: According to Our World in Data
Conference tourism constitutes a dynamic sector focused on organizing and hosting events such as conferences, conventions, and exhibitions. It involves bringing together professionals, experts, and stakeholders from diverse industries to share knowledge, network, and collaborate. The market encompasses various services, including venue management, event planning, and accommodation.
In recent times, the industry has experienced transformations driven by globalization, technological advancements, and the adaptation of virtual and hybrid event formats, reflecting an evolving landscape shaped by changing preferences, sustainability concerns, and responses to the challenges posed by the COVID-19 pandemic.
Conference Tourism Market – Significant Growth Factors
The Conference Tourism Market presents significant growth opportunities due to several factors:
- Technological Advancements: Integration of advanced technologies, such as virtual reality and interactive communication tools, enhances attendee experience and facilitates hybrid event formats, driving the market’s evolution.
- Globalization and Business Expansion: Increasing globalization fosters the need for conferences as crucial platforms for international collaboration, networking, and knowledge exchange, propelling the demand for conference tourism.
- Emphasis on Sustainability: Growing awareness of environmental responsibility prompts the adoption of sustainable practices within the conference tourism sector, aligning with the preferences of eco-conscious participants and organizers.
- Adaptation to Virtual and Hybrid Formats: The shift towards virtual and hybrid event formats, accelerated by the COVID-19 pandemic, allows for broader participation, increased accessibility, and reduced costs, contributing to the market’s resilience and growth.
- Innovation in Event Formats: The opportunity lies in developing innovative event formats, incorporating interactive elements, engaging content, and experiential activities to enhance participant satisfaction and attract a diverse audience.
- Destination Diversity and Niche Markets: Exploring untapped destinations and catering to niche markets present growth opportunities. By offering unique and specialized conference experiences, the market can attract a broader range of participants and stakeholders, contributing to increased demand and revenue.
Conference Tourism Market – Mergers and Acquisitions
The Conference Tourism Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Conference Tourism Market include:
- In the 2022/23 budget, the Chief Minister declared plans to elevate Bangalore into the country’s premier MICE hub, capitalizing on its status as a business and IT hub. The strategic focus on technology, robust infrastructure, and excellent connectivity aims to position Bangalore prominently in the conference tourism landscape.
- In 2022, Creative Group, Inc., strengthened its foothold in the Southeastern U.S. telecommunications sector through the acquisition of Strategic Meetings and Incentives, LLC, an Arizona-based agency. This strategic move not only expands Creative Group’s regional presence but also diversifies its services portfolio within the telecommunications industry.
These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Conference Tourism Market. The trend is expected to continue as companies seek a competitive edge in the market.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Conference Tourism Market | Mice Model Market | Tourism Source Market |
| CAGR 10.1% (Approx) | CAGR 6.75% (Approx) | CAGR 5.2% (Approx) |
| USD 1,487.2 Billion by 2032 | USD 56.60 Billion by 2032 | USD 986.5 Billion by 2032 |
Conference Tourism Market – Significant Threats
The Conference Tourism Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:
- Pandemic and Health Risks: Ongoing and future pandemics pose a substantial threat to the conference tourism market. Health concerns, travel restrictions, and the potential for outbreaks can lead to event cancellations, reduced attendance, and financial losses.
- Technological Disruptions: Rapid advancements in technology, while driving market growth, also pose a threat. The increasing prevalence of virtual conferences and online collaboration tools may impact traditional in-person events, challenging the industry’s established norms and revenue models.
- Economic Downturns: Economic uncertainties and downturns can significantly impact corporate budgets and discretionary spending on conferences. During periods of economic instability, businesses may cut back on travel and event expenses, leading to a decline in conference attendance and revenue.
- Geopolitical Instability and Travel Restrictions: Geopolitical tensions, security concerns, and travel restrictions can disrupt international conferences. Political instability or sudden changes in regulations may impede the movement of participants, affecting the global nature of many conferences and hindering market growth.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 625.6 Billion |
| Projected Market Size in 2032 | USD 1,487.2 Billion |
| Market Size in 2022 | USD 568.2 Billion |
| CAGR Growth Rate | 10.1% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Service, Venue Type, Event Size, Location and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Category-Wise Insights
By Service
- Transportation: Conference tourism transportation services involve organizing and facilitating the movement of attendees. Trends include sustainable transportation options, shuttle services, and partnerships with ride-sharing platforms to enhance accessibility and reduce environmental impact.
- Food and Lodging: Food and lodging services in conference tourism encompass accommodation, catering, and dining. Trends include personalized catering options, eco-friendly accommodations, and the integration of local culinary experiences to enhance participant satisfaction.
- Recreation: Recreation services offer leisure activities during conferences, fostering networking and relaxation. Trends include wellness programs, team-building activities, and the incorporation of cultural excursions, providing attendees with memorable and engaging experiences.
- Others: Other conference tourism services may include event planning, technology support, and exhibition management. Trends involve the adoption of virtual and hybrid event solutions, sustainability-focused initiatives, and the customization of services to meet diverse client needs.
By Venue Type
- Convention Centres: Convention centers are purpose-built facilities for large-scale conferences and exhibitions. Trends include advanced technology integration, sustainability initiatives, and flexibility in space design, accommodating hybrid events.
- Hotels & Resorts: Hotels and resorts offer conference facilities alongside accommodations. Current trends focus on creating unique meeting experiences, incorporating technology for virtual events, and emphasizing wellness and leisure offerings for attendees.
- Others: Other venues vary, including unique event spaces, cruise ships, and outdoor venues. Trends involve adaptability to diverse event formats, technology integration for virtual participation, and the rise of unconventional, experiential settings in response to changing attendee expectations.
By Event Size
- Small-Scale Events: Small-scale events, often workshops or seminars with limited participants, emphasize intimate discussions. Trends include a rise in niche-focused gatherings, fostering deep connections among attendees and the integration of technology for virtual access, expanding the reach beyond physical presence.
- Medium-Scale Events: Medium-scale conferences, with larger attendance and diverse sessions, reflect trends such as interactive formats, dynamic workshops, and the integration of virtual elements. Emphasis is on participant engagement and a balanced blend of in-person and online experiences.
- Large-Scale Events: Large-scale conferences, major industry gatherings or conventions, showcase trends such as extensive exhibition areas, high-profile keynote speakers, and global participation. Virtual components are increasingly incorporated to enhance accessibility, enabling a broader audience to engage with the event.
By Location
- International Conferences: International conferences draw participants globally, fostering cross-border collaborations. Trends include the rise of virtual components, accommodating diverse time zones, and hybrid formats, providing accessibility.
- National/Regional Conferences: Focused on specific countries or regions, these conferences cater to localized interests. Trends involve sustainability initiatives, venue modernization, and government support, enhancing regional conference tourism.
- Local Meetings: Local meetings, often smaller in scale, facilitate community engagement. Current trends emphasize technological integration, virtual options, and innovative formats, adapting to the changing landscape of local conference tourism.
Conference Tourism Market – Regional Analysis
The Conference Tourism Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In North America, a trend in conference tourism includes a strong emphasis on technology integration, fostering hybrid events for broader participation. Sustainability initiatives are gaining traction, aligning with the region’s focus on environmental responsibility and corporate social responsibility.
- Europe: Europe’s conference tourism trend sees a rise in experiential conferences, blending culture with business. Historic venues are popular, offering unique settings. Digitalization and eco-friendly practices, driven by European values, are shaping the future of conferences in the region.
- Asia-Pacific: The Asia-Pacific region is witnessing a surge in mega-events, particularly in technology and innovation. Virtual reality and AI integration are key trends, in enhancing participant engagement. Strong government support for infrastructure development is driving the growth of conference tourism across diverse destinations.
- LAMEA (Latin America, Middle East, and Africa): LAMEA showcases a trend in promoting unique local experiences within conferences. There’s an increasing focus on wellness aspects, incorporating leisure activities and cultural immersion. Investment in modern convention facilities in key cities contributes to the region’s emerging prominence in conference tourism.
Competitive Landscape – Conference Tourism Market
The Conference Tourism Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:
- Marriott International Inc.
- Hilton Worldwide Holdings Inc.
- AccorHotels
- InterContinental Hotels Group PLC (IHG)
- Choice Hotels International Inc.
- Hyatt Hotels Corporation
- Meliá Hotels International
- Wyndham Hotels & Resorts Inc.
- Carlson Rezidor Hotel Group
- Shangri-La Hotels and Resorts
- Jumeirah Group
- IHG – International Convention Centre Sydney
- Las Vegas Sands Corp.
- Messe Frankfurt GmbH
- Reed Exhibitions
- Others
These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.
New players entering the conference tourism market, such as virtual event platforms and tech-driven service providers, leverage innovation and digital solutions to establish a presence. Notable entrants include virtual event startups and companies specializing in hybrid conference technologies.
Key players dominating the market include established hotel chains like Marriott International, Hilton Worldwide, and AccorHotels. These leaders capitalize on their extensive infrastructure, global networks, and adaptability to emerging trends, ensuring a strong market presence. Their ability to incorporate technology, sustainability practices, and diverse event offerings solidifies their dominance in the competitive landscape.
The Conference Tourism Market is segmented as follows:
By Service
- Transportation
- Food and Lodging
- Recreation
- Others
By Venue Type
- Convention Centres
- Hotels & Resorts
- Others
By Event Size
- Small-Scale
- Medium-Scale
- Large-Scale
By Location
- International Conferences
- National/Regional Conferences
- Local Meetings
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Conference Tourism Market, (2024 – 2033) (USD Billion)
- 2.2 Global Conference Tourism Market: snapshot
- Chapter 3. Global Conference Tourism Market – Industry Analysis
- 3.1 Conference Tourism Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Technological Advancements
- 3.2.2 Globalization and Business Expansion
- 3.2.3 Emphasis on Sustainability
- 3.2.4 Adaptation to Virtual and Hybrid Formats
- 3.2.5 Innovation in Event Formats
- 3.2.6 Destination Diversity and Niche Markets.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Service
- 3.7.2 Market Attractiveness Analysis By Venue Type
- 3.7.3 Market Attractiveness Analysis By Event Size
- 3.7.4 Market Attractiveness Analysis By Location
- Chapter 4. Global Conference Tourism Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Conference Tourism Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Conference Tourism Market – Service Analysis
- 5.1 Global Conference Tourism Market Overview: By Service
- 5.1.1 Global Conference Tourism Market Share, By Service, 2022 and – 2033
- 5.2 Transportation
- 5.2.1 Global Conference Tourism Market by Transportation, 2024 – 2033 (USD Billion)
- 5.3 Food and Lodging
- 5.3.1 Global Conference Tourism Market by Food and Lodging, 2024 – 2033 (USD Billion)
- 5.4 Recreation
- 5.4.1 Global Conference Tourism Market by Recreation, 2024 – 2033 (USD Billion)
- 5.5 Others
- 5.5.1 Global Conference Tourism Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Conference Tourism Market Overview: By Service
- Chapter 6. Global Conference Tourism Market – Venue Type Analysis
- 6.1 Global Conference Tourism Market Overview: By Venue Type
- 6.1.1 Global Conference Tourism Market Share, By Venue Type, 2022 and – 2033
- 6.2 Convention Centres
- 6.2.1 Global Conference Tourism Market by Convention Centres, 2024 – 2033 (USD Billion)
- 6.3 Hotels & Resorts
- 6.3.1 Global Conference Tourism Market by Hotels & Resorts, 2024 – 2033 (USD Billion)
- 6.4 Others
- 6.4.1 Global Conference Tourism Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Conference Tourism Market Overview: By Venue Type
- Chapter 7. Global Conference Tourism Market – Event Size Analysis
- 7.1 Global Conference Tourism Market Overview: By Event Size
- 7.1.1 Global Conference Tourism Market Share, By Event Size, 2022 and – 2033
- 7.2 Small-Scale
- 7.2.1 Global Conference Tourism Market by Small-Scale, 2024 – 2033 (USD Billion)
- 7.3 Medium-Scale
- 7.3.1 Global Conference Tourism Market by Medium-Scale, 2024 – 2033 (USD Billion)
- 7.4 Large-Scale
- 7.4.1 Global Conference Tourism Market by Large-Scale, 2024 – 2033 (USD Billion)
- 7.1 Global Conference Tourism Market Overview: By Event Size
- Chapter 8. Global Conference Tourism Market – Location Analysis
- 8.1 Global Conference Tourism Market Overview: By Location
- 8.1.1 Global Conference Tourism Market Share, By Location, 2022 and – 2033
- 8.2 International Conferences
- 8.2.1 Global Conference Tourism Market by International Conferences, 2024 – 2033 (USD Billion)
- 8.3 National/Regional Conferences
- 8.3.1 Global Conference Tourism Market by National/Regional Conferences, 2024 – 2033 (USD Billion)
- 8.4 Local Meetings
- 8.4.1 Global Conference Tourism Market by Local Meetings, 2024 – 2033 (USD Billion)
- 8.1 Global Conference Tourism Market Overview: By Location
- Chapter 9. Conference Tourism’s Market – Regional Analysis
- 9.1 Global Conference Tourism’s Market Regional Overview
- 9.2 Global Conference Tourism’s Market Share, by Region, 2022 & – 2033 (USD Billion)
- 9.3. North America
- 9.3.1 North America Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.3.1.1 North America Conference Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.3.1 North America Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.4 North America Conference Tourism’s Market, by Service, 2024 – 2033
- 9.4.1 North America Conference Tourism’s Market, by Service, 2024 – 2033 (USD Billion)
- 9.5 North America Conference Tourism’s Market, by Venue Type, 2024 – 2033
- 9.5.1 North America Conference Tourism’s Market, by Venue Type, 2024 – 2033 (USD Billion)
- 9.6 North America Conference Tourism’s Market, by Event Size, 2024 – 2033
- 9.6.1 North America Conference Tourism’s Market, by Event Size, 2024 – 2033 (USD Billion)
- 9.7 North America Conference Tourism’s Market, by Location, 2024 – 2033
- 9.7.1 North America Conference Tourism’s Market, by Location, 2024 – 2033 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.8.1.1 Europe Conference Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.8.1 Europe Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.9 Europe Conference Tourism’s Market, by Service, 2024 – 2033
- 9.9.1 Europe Conference Tourism’s Market, by Service, 2024 – 2033 (USD Billion)
- 9.10 Europe Conference Tourism’s Market, by Venue Type, 2024 – 2033
- 9.10.1 Europe Conference Tourism’s Market, by Venue Type, 2024 – 2033 (USD Billion)
- 9.11 Europe Conference Tourism’s Market, by Event Size, 2024 – 2033
- 9.11.1 Europe Conference Tourism’s Market, by Event Size, 2024 – 2033 (USD Billion)
- 9.12 Europe Conference Tourism’s Market, by Location, 2024 – 2033
- 9.12.1 Europe Conference Tourism’s Market, by Location, 2024 – 2033 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.13.1.1 Asia Pacific Conference Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.13.1 Asia Pacific Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.14 Asia Pacific Conference Tourism’s Market, by Service, 2024 – 2033
- 9.14.1 Asia Pacific Conference Tourism’s Market, by Service, 2024 – 2033 (USD Billion)
- 9.15 Asia Pacific Conference Tourism’s Market, by Venue Type, 2024 – 2033
- 9.15.1 Asia Pacific Conference Tourism’s Market, by Venue Type, 2024 – 2033 (USD Billion)
- 9.16 Asia Pacific Conference Tourism’s Market, by Event Size, 2024 – 2033
- 9.16.1 Asia Pacific Conference Tourism’s Market, by Event Size, 2024 – 2033 (USD Billion)
- 9.17 Asia Pacific Conference Tourism’s Market, by Location, 2024 – 2033
- 9.17.1 Asia Pacific Conference Tourism’s Market, by Location, 2024 – 2033 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.18.1.1 Latin America Conference Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.18.1 Latin America Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.19 Latin America Conference Tourism’s Market, by Service, 2024 – 2033
- 9.19.1 Latin America Conference Tourism’s Market, by Service, 2024 – 2033 (USD Billion)
- 9.20 Latin America Conference Tourism’s Market, by Venue Type, 2024 – 2033
- 9.20.1 Latin America Conference Tourism’s Market, by Venue Type, 2024 – 2033 (USD Billion)
- 9.21 Latin America Conference Tourism’s Market, by Event Size, 2024 – 2033
- 9.21.1 Latin America Conference Tourism’s Market, by Event Size, 2024 – 2033 (USD Billion)
- 9.22 Latin America Conference Tourism’s Market, by Location, 2024 – 2033
- 9.22.1 Latin America Conference Tourism’s Market, by Location, 2024 – 2033 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Conference Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.23.1 The Middle-East and Africa Conference Tourism’s Market, 2024 – 2033 (USD Billion)
- 9.24 The Middle-East and Africa Conference Tourism’s Market, by Service, 2024 – 2033
- 9.24.1 The Middle-East and Africa Conference Tourism’s Market, by Service, 2024 – 2033 (USD Billion)
- 9.25 The Middle-East and Africa Conference Tourism’s Market, by Venue Type, 2024 – 2033
- 9.25.1 The Middle-East and Africa Conference Tourism’s Market, by Venue Type, 2024 – 2033 (USD Billion)
- 9.26 The Middle-East and Africa Conference Tourism’s Market, by Event Size, 2024 – 2033
- 9.26.1 The Middle-East and Africa Conference Tourism’s Market, by Event Size, 2024 – 2033 (USD Billion)
- 9.27 The Middle-East and Africa Conference Tourism’s Market, by Location, 2024 – 2033
- 9.27.1 The Middle-East and Africa Conference Tourism’s Market, by Location, 2024 – 2033 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 Marriott International Inc.
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Hilton Worldwide Holdings Inc.
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 AccorHotels
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 InterContinental Hotels Group PLC (IHG)
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Choice Hotels International Inc.
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Hyatt Hotels Corporation
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 Meliá Hotels International
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 Wyndham Hotels & Resorts Inc.
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Carlson Rezidor Hotel Group
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Shangri-La Hotels and Resorts
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 Jumeirah Group
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 IHG – International Convention Centre Sydney
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 Las Vegas Sands Corp.
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.14 Messe Frankfurt GmbH
- 10.14.1 Overview
- 10.14.2 Financials
- 10.14.3 Product Portfolio
- 10.14.4 Business Strategy
- 10.14.5 Recent Developments
- 10.15 Reed Exhibitions
- 10.15.1 Overview
- 10.15.2 Financials
- 10.15.3 Product Portfolio
- 10.15.4 Business Strategy
- 10.15.5 Recent Developments
- 10.16 Others.
- 10.16.1 Overview
- 10.16.2 Financials
- 10.16.3 Product Portfolio
- 10.16.4 Business Strategy
- 10.16.5 Recent Developments
- 10.1 Marriott International Inc.
List Of Figures
Figures No 1 to 31
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Marriott International Inc.
- Hilton Worldwide Holdings Inc.
- AccorHotels
- InterContinental Hotels Group PLC (IHG)
- Choice Hotels International Inc.
- Hyatt Hotels Corporation
- Meliá Hotels International
- Wyndham Hotels & Resorts Inc.
- Carlson Rezidor Hotel Group
- Shangri-La Hotels and Resorts
- Jumeirah Group
- IHG – International Convention Centre Sydney
- Las Vegas Sands Corp.
- Messe Frankfurt GmbH
- Reed Exhibitions
- Others
FAQs
The key factors driving the Market are Technological Advancements, Globalization and Business Expansion, Emphasis on Sustainability, Adaptation to Virtual and Hybrid Formats, Innovation in Event Formats And Destination Diversity and Niche Markets.
The “Convention Centres” category dominated the market in 2022.
The key players in the market are Marriott International Inc., Hilton Worldwide Holdings Inc., AccorHotels, InterContinental Hotels Group PLC (IHG), Choice Hotels International Inc., Hyatt Hotels Corporation, Meliá Hotels International, Wyndham Hotels & Resorts Inc., Carlson Rezidor Hotel Group, Shangri-La Hotels and Resorts, Jumeirah Group, IHG – International Convention Centre Sydney, Las Vegas Sands Corp., Messe Frankfurt GmbH, Reed Exhibitions, Others.
“Asia-Pacific” had the largest share in the Conference Tourism Market.
The global market is projected to grow at a CAGR of 10.1% during the forecast period, 2023-2032.
The Conference Tourism Market size was valued at USD 625.6 Billion in 2023.
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