Report Code: CMI26655

Published Date: July 2023

Pages: 220+

Category: Consumer Goods

Report Snapshot

CAGR: 8.2%
451.3B
2022
503.7B
2023
975.5B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • CWT Meetings & Events
  • BCD Meetings & Events
  • American Express Global Business Travel (GBT)
  • The Interpublic Group of Companies (IPG)
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the global Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market is expected to record a CAGR of 8.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 451.3 billion. By 2032, the valuation is anticipated to reach USD 975.5 billion.

Market Share of Key Market Players

Company Name Market Share %
CWT Meetings & Events 10
BCD Meetings & Events 9
American Express Global Business Travel (GBT) 8
The Interpublic Group of Companies (IPG) 7
Maritz Global Events 6
Creative Group 5
ATPI Ltd. 4
BCD Travel 4
Carlson Wagonlit Travel (CWT) 3
Conference Care Ltd 3
Source: According to International Congress and Convention Association (ICCA)

The Inbound MICE (Meetings, Incentives, Conferences, and Exhibitions) Tourism Market encompasses a broad spectrum of activities and services focused on attracting international business events and gatherings. Its nature is dynamic and multifaceted, catering to diverse industries and sectors seeking networking, knowledge exchange, and business opportunities on a global scale. Key trends in the market include the adoption of virtual and hybrid event formats, leveraging cutting-edge technologies to offer seamless connectivity and global accessibility.

Additionally, stringent health and safety protocols have become a primary focus to ensure the safe resumption of in-person events amidst the ongoing Covid-19 pandemic. Sustainability practices and destination marketing efforts are also shaping the market’s landscape, as businesses and organizations prioritize eco-friendly initiatives and personalized travel experiences to attract MICE visitors. As the market continues to evolve, a balance between virtual and in-person interactions, alongside destination-specific offerings and enhanced safety measures, is likely to define the future of Inbound MICE Tourism.

Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market – Significant Growth Factors

The Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market presents significant growth opportunities due to several factors:

  • Business Expansion and Networking Needs: The growing demand for international collaboration and business expansion drives the need for hosting meetings, conferences, incentives, and exhibitions on a global scale, attracting participants from diverse industries and regions.
  • Technological Advancements: Rapid advancements in communication and digital technologies enable seamless virtual and hybrid event formats, expanding accessibility and reducing travel costs for participants, promoting the growth of Inbound MICE tourism.
  • Government Support and Promotion: Governments of various countries actively support and incentivize MICE events to boost tourism and stimulate economic growth, offering favourable policies, financial aid, and infrastructure development.
  • Cultural and Experiential Appeal: The allure of exploring new cultures, engaging in unique experiences, and participating in enriching exhibitions and conferences contributes to the rising interest in Inbound MICE tourism, attracting business travellers seeking a holistic and memorable experience.
  • Sustainable Event Practices: Emphasizing eco-friendly and socially responsible event practices presents opportunities to attract environmentally conscious businesses and organizations seeking green-certified venues and sustainable event solutions.
  • Destination Diversification: Exploring new and emerging destinations as MICE hosts creates opportunities to tap into unexplored markets, offering participants fresh experiences and widening the scope of Inbound MICE tourism.
  • Virtual and Hybrid Event Platforms: Leveraging cutting-edge technologies for virtual and hybrid event formats opens doors for broader global participation, breaking geographical barriers, and providing opportunities for greater engagement and networking.
  • Business Tourism Infrastructure Development: Developing and enhancing business tourism infrastructure, including state-of-the-art convention centres, conference facilities, and exhibition venues, attracts more international events and delegates, bolstering the Inbound MICE tourism market in host destinations.

Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market – Mergers and Acquisitions

The Inbound Meetings Incentives Conferences and Exhibitions (MICE) 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 Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market include:

  • Marriott International and PCMA (Professional Convention Management Association): In 2019, Marriott International entered a strategic partnership with PCMA, aiming to enhance the overall MICE experience through joint research, educational programs, and collaborative event offerings.
  • Hilton and Meeting Professionals International (MPI): In 2020, Hilton partnered with MPI to strengthen its MICE offerings, providing access to MPI’s educational resources and networking opportunities for its MICE clients.
  • Accor and Global Business Travel Association (GBTA): In 2018, Accor joined hands with GBTA, offering GBTA members exclusive benefits and preferred rates at Accor’s properties, and fostering stronger ties with the business travel community.
  • Hyatt and International Association of Exhibitions and Events (IAEE): In 2021, Hyatt collaborated with IAEE to provide specialized event solutions and facilities for IAEE’s exhibitions, elevating the participant experience at various trade shows and exhibitions.
  • Cvent and Kapow: In 2019, Cvent, a leading event management technology provider, acquired Kapow, an online marketplace for booking unique corporate events and experiences, expanding its offerings and capabilities in the MICE sector.
  • Informa and UBM: In 2018, Informa, a global events and publishing company, acquired UBM, a prominent MICE event organizer, to create a more extensive portfolio of exhibitions and conferences across various industries.
  • PCMA and Incentive Research Foundation (IRF): In 2021, PCMA acquired IRF, a research and education organization focused on incentive travel, reinforcing PCMA’s commitment to driving innovation and excellence in the incentive travel segment of MICE tourism.
  • Hyve Group and Centaur Media’s Business Travel and Meetings Portfolio: In 2019, Hyve Group acquired Centaur Media’s Business Travel and Meetings Portfolio, which included leading MICE events like The Meetings Show, enhancing Hyve’s presence in the MICE sector.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market MICE Market Virtual Events Industry Market
CAGR 8.2% (Approx) CAGR 18.2% (Approx) CAGR 14% (Approx)
USD 975.5 Billion by 2032 USD 1620.7 Billion by 2032 USD 1035.5 Billion by 2032

Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market – Significant Threats

The Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Global Pandemics and Health Crises: The Inbound MICE Tourism Market faces significant threats from global pandemics and health crises, like the Covid-19 pandemic, which disrupts international travel, leads to event cancellations, and instils travel hesitancy among participants.
  • Geopolitical Instability: Political uncertainties, trade tensions, and geopolitical conflicts pose threats to the Inbound MICE Tourism Market. Sudden changes in visa regulations, travel restrictions, or security concerns can deter international participants from attending events in certain regions.
  • Economic Downturns: Economic recessions and financial crises impact corporate budgets and discretionary spending, leading to reduced MICE activities, lower attendance, and financial strain on event organizers and host destinations.
  • Competition from Virtual Events: The rise of virtual and hybrid event formats presents a threat to in-person MICE tourism, as organizations and participants may opt for cost-effective and accessible virtual alternatives, leading to a potential decline in attendance at physical events.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 503.7 Billion
Projected Market Size in 2032 USD 975.5 Billion
Market Size in 2022 USD 451.3 Billion
CAGR Growth Rate 8.2% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Event Type, Application 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 Event Type :

  • Inbound Meetings Tourism: Inbound Meetings Tourism refers to the segment of the MICE market focused on attracting international business meetings and gatherings. It involves hosting corporate conferences, seminars, and workshops where delegates convene for networking, knowledge exchange, and collaboration. Trends include the integration of virtual meeting technology, personalized event experiences, and sustainability initiatives to enhance participant engagement and reduce environmental impact.
  • Incentives Tourism: Incentives Tourism involves hosting corporate incentive travel programs to reward and motivate employees or clients. It offers unique and luxurious experiences, such as incentive trips to exotic destinations or team-building activities. Trends include the incorporation of authentic cultural immersions, wellness-focused incentives, and purpose-driven travel experiences that align with the values of participants.
  • Conferences Tourism: Conferences Tourism encompasses hosting international conferences and congresses, gathering delegates from various industries and professions. It fosters knowledge sharing, professional development, and industry advancements. Trends include the adoption of hybrid event formats, interactive conference technologies, and sustainability practices to create memorable and impactful experiences for attendees.
  • Exhibitions (MICE) Tourism: Exhibitions Tourism involves organizing trade shows, exhibitions, and expos that showcase products, services, and innovations to a targeted audience. It facilitates business networking, B2B interactions, and market exploration. Trends include the use of virtual exhibition platforms, themed exhibition pavilions, and experiential exhibition designs to attract exhibitors and visitors while accommodating diverse industry sectors.

By Application

  • Hospitality: In the Inbound MICE Tourism Market, hospitality encompasses hotels, resorts, and accommodation providers. They play a vital role in hosting conference delegates, incentive travel groups, and event attendees, offering tailored packages, amenities, and event spaces to enhance participants’ experience and promote seamless networking opportunities.
  • Transportation: Transportation services, including airlines, railways, and ground transportation providers, are crucial in facilitating the movement of MICE participants to host destinations. The market trends show a focus on eco-friendly and efficient transportation options, offering seamless connectivity and enhanced travel experiences.
  • Retail: Retail establishments, such as shopping malls, boutiques, and duty-free stores, benefit from Inbound MICE Tourism as participants engage in leisure activities and shopping. Trends indicate personalized shopping experiences, exclusive discounts, and culturally immersive retail offerings to attract MICE visitors and boost spending.
  • Entertainment: Inbound MICE Tourism Market drives the demand for entertainment venues, theme parks, cultural performances, and leisure activities. The market trends highlight an emphasis on unique entertainment experiences, live-streaming options for virtual participants, and engaging cultural showcases to provide memorable and diverse entertainment choices.

Global Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market 2023–2032 (By Billion)

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Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market – Regional Analysis

The Inbound Meetings Incentives Conferences and Exhibitions (MICE) 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 the Inbound MICE Tourism Market, North America showcases a trend towards innovative technology integration, offering advanced virtual and hybrid event solutions. Major players in the region include Cvent, Marriott International, Hilton, and Hyatt, known for their cutting-edge event management technologies and extensive network of upscale properties.
  • Europe: Europe’s Inbound MICE Tourism Market witnesses a trend of sustainable practices and green event initiatives. Dominating market players in this region are Informa, Reed Exhibitions, Accor, and InterContinental Hotels Group (IHG), renowned for their eco-friendly event venues and commitment to responsible event management.
  • Asia-Pacific: The Asia-Pacific Inbound MICE Tourism Market is driven by the rapid growth of emerging destinations and experiential travel offerings. Key players include Pico Group, China International Exhibition Center Group (CIEC), Shangri-La Hotels and Resorts, and Accor Asia Pacific, leading with culturally immersive event experiences and state-of-the-art convention centres.
  • LAMEA (Latin America, Middle East, and Africa): The LAMEA region experiences a trend of destination diversification, focusing on attracting MICE visitors with unique offerings. Dominating market players in this region include MCI Group, Hilton Worldwide, Radisson Hotel Group, and Meliá Hotels International, renowned for their diverse event portfolios and personalized event planning services.

Global Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market 2023–2032 (By Application)

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Competitive Landscape – Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market

The Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • CWT Meetings & Events
  • BCD Meetings & Events
  • American Express Global Business Travel (GBT)
  • The Interpublic Group of Companies (IPG)
  • Maritz Global Events
  • Creative Group
  • ATPI Ltd.
  • BCD Travel
  • Carlson Wagonlit Travel (CWT)
  • Conference Care Ltd.
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships. For example, In 2021, Eventbrite, a leading event management platform, partnered with Zoom, a popular video conferencing platform, to integrate their services and provide seamless virtual event experiences. This partnership enables event organizers to easily manage and host online events, expanding the reach and accessibility of virtual gatherings.

Several new players have entered the Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market with innovative approaches and developments. These new entrants leverage advanced technologies, such as virtual and augmented reality, to enhance attendee experiences and offer unique event solutions. They also focus on sustainability, incorporating eco-friendly practices and promoting socially responsible events.

However, the Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market is primarily dominated by key players with established market presence and extensive resources. These dominant players have a wide network, strong industry partnerships, and a proven track record of successful event management. Their market dominance is reinforced by their ability to deliver comprehensive event solutions, attract top clients, and provide end-to-end event planning and execution services.

The Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market is segmented as follows:

By Event Type

  • Inbound Meetings Tourism
  • Incentives Tourism
  • Conferences Tourism
  • Exhibitions (MICE) Tourism

By Application

  • Hospitality
  • Transportation
  • Retail
  • Entertainment

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • 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 Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market : snapshot
  • Chapter 3. Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market – Industry Analysis
    • 3.1 Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Business Expansion and Networking Needs
      • 3.2.2 Technological Advancements
      • 3.2.3 Government Support and Promotion
      • 3.2.4 Cultural and Experiential Appeal
      • 3.2.5 Sustainable Event Practices
      • 3.2.6 Destination Diversification
      • 3.2.7 Virtual and Hybrid Event Platforms And Business Tourism Infrastructure Development.
    • 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 Event Type
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE 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, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market – Event Type Analysis
    • 5.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market overview: By Event Type
      • 5.1.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market share, By Event Type, 2022 and – 2033
    • 5.2 Inbound Meetings Tourism
      • 5.2.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market by Inbound Meetings Tourism, 2024 – 2033 (USD Billion)
    • 5.3 Incentives Tourism
      • 5.3.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market by Incentives Tourism, 2024 – 2033 (USD Billion)
    • 5.4 Conferences Tourism
      • 5.4.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market by Conferences Tourism, 2024 – 2033 (USD Billion)
    • 5.5 Exhibitions MICE Tourism
      • 5.5.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market by Exhibitions MICE Tourism, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market – Application Analysis
    • 6.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market overview: By Application
      • 6.1.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market share, By Application, 2022 and – 2033
    • 6.2 Hospitality
      • 6.2.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market by Hospitality, 2024 – 2033 (USD Billion)
    • 6.3 Transportation
      • 6.3.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market by Transportation, 2024 – 2033 (USD Billion)
    • 6.4 Retail
      • 6.4.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market by Retail, 2024 – 2033 (USD Billion)
    • 6.5 Entertainment
      • 6.5.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market by Entertainment, 2024 – 2033 (USD Billion)
  • Chapter 7. Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market – Regional Analysis
    • 7.1 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market Regional Overview
    • 7.2 Global Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, 2024 – 2033 (USD Billion)
        • 7.3.1.1 North America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Country, 2024 – 2033 (USD Billion)
    • 7.4 North America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033
      • 7.4.1 North America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033 (USD Billion)
    • 7.5 North America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033
      • 7.5.1 North America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, 2024 – 2033 (USD Billion)
        • 7.6.1.1 Europe Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Country, 2024 – 2033 (USD Billion)
    • 7.7 Europe Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033
      • 7.7.1 Europe Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033 (USD Billion)
    • 7.8 Europe Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033
      • 7.8.1 Europe Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, 2024 – 2033 (USD Billion)
        • 7.9.1.1 Asia Pacific Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Country, 2024 – 2033 (USD Billion)
    • 7.10 Asia Pacific Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033
      • 7.10.1 Asia Pacific Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033 (USD Billion)
    • 7.11 Asia Pacific Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033
      • 7.11.1 Asia Pacific Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, 2024 – 2033 (USD Billion)
        • 7.12.1.1 Latin America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Country, 2024 – 2033 (USD Billion)
    • 7.13 Latin America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033
      • 7.13.1 Latin America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033 (USD Billion)
    • 7.14 Latin America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033
      • 7.14.1 Latin America Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, 2024 – 2033 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Country, 2024 – 2033 (USD Billion)
    • 7.16 The Middle-East and Africa Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033
      • 7.16.1 The Middle-East and Africa Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Event Type, 2024 – 2033 (USD Billion)
    • 7.17 The Middle-East and Africa Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033
      • 7.17.1 The Middle-East and Africa Inbound Meetings Incentives Conferences and Exhibitions MICE Tourism Market, by Application, 2024 – 2033 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 CWT Meetings & Events
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 BCD Meetings & Events
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 American Express Global Business Travel (GBT)
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 The Interpublic Group of Companies (IPG)
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Maritz Global Events
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Creative Group
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 ATPI Ltd.
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 BCD Travel
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Carlson Wagonlit Travel (CWT)
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Conference Care Ltd.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Others.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
List Of Figures

Figures No 1 to 22

List Of Tables

Tables No 1 to 52

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 2030

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
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • CWT Meetings & Events
  • BCD Meetings & Events
  • American Express Global Business Travel (GBT)
  • The Interpublic Group of Companies (IPG)
  • Maritz Global Events
  • Creative Group
  • ATPI Ltd.
  • BCD Travel
  • Carlson Wagonlit Travel (CWT)
  • Conference Care Ltd.
  • Others

FAQs

The key factors driving the Market are Business Expansion and Networking Needs, Technological Advancements, Government Support and Promotion, Cultural and Experiential Appeal, Sustainable Event Practices, Destination Diversification, Virtual and Hybrid Event Platforms And Business Tourism Infrastructure Development.

The key players in the market are CWT Meetings & Events, BCD Meetings & Events, American Express Global Business Travel (GBT), The Interpublic Group of Companies (IPG), Maritz Global Events, Creative Group, ATPI Ltd., BCD Travel, Carlson Wagonlit Travel (CWT), Conference Care Ltd., Others.

“North America” had the largest share in the Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market.

The global market is projected to grow at a CAGR of 8.2% during the forecast period, 2023-2032.

The Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market size was valued at USD 451.3 Billion in 2022.

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