Market Size of MICE Tourism Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific MICE Tourism Market Analysis
Asia-Pacific has been the fastest growing region for tourism in the world. The factors that promote the growth of Asia-Pacific travel & tourism industry include strong economic growth, increase in disposable income, political stability, and aggressive tourism campaigns.
International arrivals exceeded 1.5 billion for the first time only in 2019, the long-term evolution of tourism is proved to be greatly dependent on a decade of growth since the global financial crisis. Though, this last period of unhindered business tourism development has suddenly come to an end with the COVID-19. Accompanied by quarantine in most countries and closed borders worldwide, COVID-19 pandemic heavily hit the MICE industry. The majority of domestic and international airlines were forced to cancel their flights due to severe quarantine measures and a lack of passengers, as people were frightened
In the Asia-Pacific MICE business, China is likely to continue dominant and grow at a stable rate. Over the last 12 months, Shanghai and Beijing have hosted the bulk of MICE trips in China, followed by Guangzhou, Hong Kong, and Macau. Manufacturing, utility & agriculture, and forestry & fisheries are the primary industry areas driving MICE growth in China. Furthermore, the healthcare industry and the social work segment are expected to rise as the population ages. The market's growth is expected to be aided by an increase in business travel activity from these industries.
Asia-Pacific MICE Tourism Industry Segmentation
MICE represents a sector of tourism that includes business events and activities such as client meetings, brand & product promotions, business expansion, employee training, and incentives. This report aims to provide a detailed analysis of the Asia-Pacific MICE Tourism Market. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights on various product and application types. Also, it analyses the key players and the competitive landscape in the Asia-Pacific MICE Tourism Market.
| Event | |
| Meeting | |
| Incentive | |
| Conventions | |
| Exhibitions |
| Geography | |
| India | |
| China | |
| Singapore | |
| Thailand | |
| Hong Kong | |
| Malaysia | |
| Japan | |
| Rest of AP |
MICE Tourism Market Size Summary
The Asia-Pacific MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism market has been experiencing rapid growth, driven by factors such as robust economic expansion, rising disposable incomes, and political stability. The region's tourism industry has benefited from aggressive promotional campaigns, positioning Asia-Pacific as a leading destination for international arrivals. However, the COVID-19 pandemic significantly disrupted the MICE sector, with stringent quarantine measures and travel restrictions leading to a decline in business tourism. Despite these challenges, the market is poised for recovery, with China expected to maintain its dominance. Key cities like Shanghai, Beijing, and Guangzhou are central to this resurgence, supported by industries such as manufacturing, healthcare, and social work, which are anticipated to boost business travel activity.
As the hospitality sector rebounds, the shift towards hybrid events—combining in-person and virtual experiences—has gained traction, driven by health and safety concerns. This trend necessitates hotels to enhance their technological infrastructure to support these formats effectively. The MICE industry is also increasingly focusing on sustainability, with venues like the Melbourne Convention and Exhibition Centre leading initiatives to reduce waste and improve environmental credentials. The market remains fragmented, with several key players such as QUESTEX LLC and CIEVENTS contributing to its development. Notable events, like the IBTM Asia Pacific in Singapore, highlight the region's commitment to advancing MICE tourism. Additionally, initiatives like the SITE Thailand Chapter's partnership with the Thailand Convention and Exhibition Bureau underscore the industry's efforts to integrate sustainability into its practices.
MICE Tourism Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Insights on Various Regulatory Landscape
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1.5 Insights on impact of technology and innovation in the Market
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1.6 Value Chain Analysis
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1.7 Industry Attractiveness - Porters' Five Forces Analysis
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1.7.1 Threat of New Entrants
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1.7.2 Bargaining Power of Buyers
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1.7.3 Bargaining Power of Suppliers
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1.7.4 Threat of Substitutes
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1.7.5 Intensity of Competitive Rivalry
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1.8 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 Event
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2.1.1 Meeting
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2.1.2 Incentive
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2.1.3 Conventions
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2.1.4 Exhibitions
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2.2 Geography
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2.2.1 India
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2.2.2 China
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2.2.3 Singapore
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2.2.4 Thailand
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2.2.5 Hong Kong
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2.2.6 Malaysia
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2.2.7 Japan
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2.2.8 Rest of AP
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MICE Tourism Market Size FAQs
What is the current MICE Tourism Market size?
The MICE Tourism Market is projected to register a CAGR of less than 8% during the forecast period (2024-2029)
Who are the key players in MICE Tourism Market?
QUESTEX LLC, CIEVENTS, ATPI LTD., CONFERENCE CARE LTD and IBTM EVENTS are the major companies operating in the MICE Tourism Market.
