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MICE Industry Expected to Reach $1,245 Billion by 2023

Meetings, incentives, conventions, and exhibitions or MICE represents a sector of tourism that includes business events and activities. Travelers attending MICE activities have a purpose beyond leisure tourism, and are in fact business travelers. These business travelers are connected to different sectors of the tourism and hospitality industry through their MICE activities. In general, MICE events are events and activities that involve attendees who share a common interest and gather in a place. The place for the gathering needs to be a venue arranged beforehand. The venue will provide space and facilities necessary to satisfy the needs of those who attend the gathering. The global MICE industry generated revenue of $752 billion in 2016, and is expected to grow at a CAGR of 7.5% to reach $1,245 billion by 2023.

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MICE Industry Expected to Reach $1,245 Billion by 2023

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  1. Opportunity Analysis and Industry Forecast, 2016-2023 MICE Industry by Event Type (Meetings, Incentives, Conventions, and Exhibitions) Global Opportunity Analysis and Industry Forecast, 2016-2023 Pages: 172 Tables: 81 Charts: 36

  2. MICE INDUSTRY MICE Industry by Event Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global MICE industry was valued at $752 billion in 2016, and is projected to reach $1,245 billion in 2023, registering a CAGR of 7.5% from 2017 to 2023. The MICE industry is complex, consisting of participants, sponsors, planners, convention and visitor bureaus, meeting venues, accommodations, and suppliers generally being involved in the planning and execution of an event. The group market of the tourism industry has witnessed exponential growth owing to rapid globalization and expansion of service industries, and the continuous evolution of scientific and technological innovations. Access full summary at: https://www.alliedmarketresearch.com/MICE-industry-market The meetings segment dominated the global MICE industry in 2016, due to the growth of the travel & tourism industry, increase in international business travels, and rise in government initiatives for the development of MICE segment & SME sector. Recent trends of organizing hybrid meetings, and use of social media and meeting apps are also expected to the boost market growth in the near future.

  3. MICE INDUSTRY Based on region, Asia-Pacific is expected to witness the highest growth rate of 8.6% during the forecast period. This region is significantly driven by emerging countries such as Singapore, China, and India. Moreover, ease of visa restrictions, investments in better infrastructure, and high demand in commercial aviation further fuel the growth of the Asia-Pacific MICE industry. Download Request Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/2433

  4. MICE INDUSTRY • Key Findings of the MICE Industry Market • In 2016, Europe dominated the global market with more than 42% market share, in terms of value. • Asia-Pacific is estimated to witness the highest growth rate from 2017 to 2023. • On the basis of country, U.S. generated the highest revenue in global MICE industry in 2016. • Based on event type, meetings segment generated the highest revenue in 2016, and is expected to grow at a CAGR of 7.5%. • The incentives segment is projected to witness highest growth in the global market.

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  7. MICE INDUSTRY • Key Players • Questex • CWT Meetings & Events • IBTM Events • BCD Meetings and Events • Capital Travel and Events • CiEvents • Conference Care Ltd • The Freeman Company • ATPI Ltd • Interpublic Group of Companies, Inc. • Request Sample Copy of Report: https://www.alliedmarketresearch.com/request-for-customization/2433

  8. MICE INDUSTRY • Contact: • David Correa • 5933 NE Win Sivers Drive • #205, Portland, OR 97220 • United States • Toll Free (USA/Canada): • +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 • UK: +44-845-528-1300 • Hong Kong: +852-301-84916 • India (Pune): +91-20-66346060 • Fax: +1⟨855⟩550-5975 • help@alliedmarketresearch.com • Web: https://www.alliedmarketresearch.com

  9. MICE INDUSTRY Thank You! For More Details Visit us at https://www.alliedmarketresearch.com/MICE-industry-market Follow Us On

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