MICE Industry Market

MICE Industry Market Size by Event Type (Meetings, Incentives, Conferences and Events), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13884
  • Published Date: Dec, 2023
  • Pages: 239
  • Category: Information Technology & Semiconductors
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global MICE industry market was valued at USD 760 billion in 2022 and grew at a CAGR of 5% from 2023 to 2032. The market is expected to reach USD 1237.96 billion by 2032. The growing government support and incentives for the MICE industry will drive the growth of the global MICE industry market.

Market Introduction:

MICE stand for Meetings, Incentives, Conferences, and Exhibitions. It is a niche segment in the tourism industry. There are four main pillars that support the MICE sector. Every event, including conferences, meetings, incentives, and exhibitions, brings together individuals from various industries. The aim is to foster partnerships, build relationships, support innovation, and stimulate expansion. Meetings, incentives, conferences, exhibits, and other business-related events are organized and carried out per the needs of the relevant parties. MICE is the pinnacle of business travel, bringing together elite industry insiders in a customized, elevated environment. MICE events benefit people, companies, and the host cities in addition to themselves, and they contribute to the economy's growth. MICE promote partnerships, learning, networking, and knowledge exchange. Productivity productivity by allowing organizers and stakeholders to be harmonious and play. Additionally, the growth of the MICE sector boosts sustainable regional development, generates jobs, and promotes these places as a sought-after tourism destination. It produces foreign exchange and expands commerce and investment.

MICE Industry Market Size

Get an overview of this study by requesting a free sample

Recent Development
  • Hong Kong has won IBTM, according to a statement from the Hong Kong Tourism Board (HKTB). IBTM Asia Pacific 2025 will be held in Hong Kong in the spring of that year. More than 1,500 travel industry and MICE professionals from the Mainland, Southeast Asia, India, Japan, South Korea, and other local and long-haul markets may attend the event. For commercial prospects, the event offers a perfect platform for travel agencies from Hong Kong, the Mainland, and beyond, as well as hotels, MICE venues, attractions, airlines, and other industry players. Additionally, it strengthens Hong Kong's standing as a global meeting place.
  • One of the biggest professional services networks in the world, Ernst & Young (EY), held its Partners and Leaders Meet in Srinagar with great success. According to a release, this momentous occasion follows the G20 talks on meetings, incentives, conferences, and exhibitions (MICE) tourism. It marks a significant advancement in the way that corporations throughout the world are engaging with areas of great ecological and cultural significance.

Market Dynamics:


Governments are increasingly focusing on developing the MICE industry – previously, high-level and most anticipated events of consequential nature were restricted to Europe and North America, given the dominance of stakeholders from these regions and the availability of the right infrastructure to organize these meetings and events. However, with changing times, countries like India, Brazil, Indonesia, UAE, Saudi Arabia and other developing nations outside of the previously mentioned regions have gained significance on a global stage given the contribution they make to the global GDP, workforce, consumer market, supply chain and overall economy. Therefore, governments of these countries are increasingly focusing on developing their MICE industry with the right attitude and funding to attract opportunities to elevate their citizens' lives. Therefore, the government's increasing focus on developing the MICE industry to attract opportunities to boost the economy will drive the growth of the global MICE industry market.

  • At Bharat Mandapam in New Delhi, the Ministry of Tourism hosted an Industry Roundtable on Developing India as a MICE (Meetings, Incentives, Conferences and Exhibitions) Destination. In 56 different cities nationwide, more than 200 meetings were held when India presided over the G20. At the national and international levels, it sparked attention never seen before. It also gave the globe a glimpse of India's extensive MICE network and rich natural and cultural heritage. The Ministry of Tourism is making a concerted effort to build on the momentum created by the G20 and solidify India's position as a world leader in MICE. During the roundtable, the Ministry of Tourism will go into detail regarding its major campaigns to position India as a top MICE destination. The National Strategy and Roadmap for the MICE Industry are the focal points of these initiatives.

MICE is a capital-intensive industry organizing mass events that attract international attention and media is capital-intensive and time-consuming. Recently, many countries have retracted their names from hosting high and international-level sports events or political gatherings, given the economic burden they were causing to their already struggling economies. Citizens also protest against these events as they overshadow the domestic problems of poverty and hunger in many countries. Therefore, the capital-intensive nature of the MICE industry will limit the market's growth.


The increasing infrastructural investments a thriving MICE industry is supported by several factors, including the right infrastructure, which is well-equipped to accommodate the attendees, conduct the event, has a seamless commute, and is aesthetically pleasing and comfortable without any pressing safety concerns. Governments recognize these factors and have invested heavily in developing MICE centres with conference halls, meeting rooms, well-equipped virtual rooms for meetings over screens, and other requirements. They are also developing stadiums to host sports events with state-of-the-art facilities for athletes. The air connectivity and road infrastructure are being improved for seamless and hassle-free travel. All these factors will support the MICE industry’s growth during the forecast period.

  • Establishing a MICE (Meeting Incentive Conference and Exhibition) centre in Jodhpur, which is becoming popular for hosting national and international events, received early approval from the Rajasthan government for about Rs 25 crore. According to a tourism department official, the MICE complex will be constructed on 5,650 square metres on the Women Polytechnic College property, with a 65,000 square metre allocation from the Jodhpur Development Authority. The official stated that the first phase will see the construction of amenities such as an administration building, VIP lounge, exhibition hall, registration and information centre, meeting space for trade and business, and a parking area. In Rajasthan, MICE tourism is growing quickly and has a lot of chances for those in the travel sector.
Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Europe emerged as the most significant global MICE industry market, with a 38% market revenue share in 2022.

The region has the necessary infrastructure offering the right connectivity, organizational space and other amenities to hold events at any scale. Given the architecture, cleanliness, and overall quality of cities and life, European countries' tourism potential makes them attractive spaces for MICE industry players. Furthermore, the political and business meetings and events have started gaining prominence with the geopolitical volatilities and would drive the demand for the MICE industry.

Europe Region MICE Industry Market Share in 2022 - 38%



Check the geographical analysis of this market by requesting a free sample

  • The historic capital of Pomerania, Gdańsk, is a rising star in the international meetings sector and is situated on the Baltic Sea. since it was just listed for the first time in the UIA (Union of International Associations) ranking. The EuroSkills Gdańsk 2023 competition was held in Gdańsk. It was a one-of-a-kind occasion that brought together government officials, educators, and leaders in the business to highlight and discuss excellence in vocational skills.
Event type Segment Analysis

The event-type segment is divided into meetings, incentives, conferences, and events. The meetings segment dominated the market, with a market share of around 45% in 2022. A meeting is a broad phrase for when several people join together in one location to discuss or do a certain task. Meetings offer a useful platform for many purposes. For instance, meetings facilitate idea-sharing, decision-making, and team-building and even help reduce feelings of isolation at work. They lead to quicker problem-solving through a free and open exchange of information, ideas and insights. Meetings help establish trust, enhance communication, and improve productivity and efficiency of tasks. Meetings can take place at every level of the organization. Meetings are a means to gather and share knowledge. MICE is synonymous with meetings and is often referred to as the "meetings industry", indicating the dominance and importance of the segment in the global market.

  • The Korea MICE Expo 2023, supported by the Korea Tourism Organisation and Incheon Metropolitan City and hosted by the Ministry of Culture, Sports, and Tourism, was successfully wrapped up at Songdo Convensia. The Korea MICE Association and the Incheon Tourism Organisation organized the event. "KOREA MICE EXPO," in its 24th year, is the top B2B event for the Korean MICE sector. With over 3,500 MICE professionals in attendance this year, there has been a noticeable rise in engagement from organizations and companies as the expo transitions to a private sector-led effort supported by the government. 450 exhibitors during the show, representing 265 businesses, most of which were regional travel agencies. Additionally, more than 150 domestic and foreign buyers from 24 countries attended the event.
Some of the Key Market Players:
  • American Express Global Business Travel (GBT)
  • ATPI Ltd.
  • BCD Meetings & Events
  • Beyond Summits
  • Creative Group, Inc.
  • CWT Meetings & Events
  • FCM Meetings & Events
  • ITL World Company (MICEMINDS)
  • Maritz

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 760 Billion
Market size value in 2032 USD 1237.96 Billion
CAGR (2023 to 2032) 5%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level.
Segments Event Type

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global MICE industry market was valued at USD 760 billion in 2022 to USD 1237.96 billion by 2032.

Global MICE industry market is growing at a CAGR of 5% during the forecast period 2023-2032.

The market's growth will be influenced by the governments increasing focus on developing MICE industry.

MICE is a capital-intensive industry and that could hamper the market growth.

Request Table of Content


This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global MICE industry market based on below mentioned segments:

Global MICE Industry Market by Event Type:

  • Meetings
  • Incentives
  • Conferences
  • Events

Global MICE Industry Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa


Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:


Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

Some Facts About The Brainy Insights


Free Customization


Fortune 500 Clients


Free Yearly Update On Purchase Of Multi/Corporate License


Companies Served Till Date