MICE Tourism Market Size (2024 - 2029)

The UAE's MICE tourism sector, a significant contributor to the region's market size, experienced substantial revenue losses due to stringent travel restrictions and the pandemic's impact on global air travel. Despite these challenges, the UAE remains a central hub for MICE events in the Gulf region, holding a dominant market share. The country's strategic location and comprehensive development agendas aim to revitalize and expand the MICE industry, which is integral to diversifying the local economy and enhancing its tourism appeal.

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Market Size of MICE Tourism Industry

Market Overview
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 5.62 Billion
Market Size (2029) USD 8.58 Billion
CAGR (2024 - 2029) 8.83 %
Market Concentration Medium

Major Players

MICE Tourism Market Major Players

*Disclaimer: Major Players sorted in no particular order

UAE MICE Tourism Market Analysis

The MICE Tourism Market size is estimated at USD 5.62 billion in 2024, and is expected to reach USD 8.58 billion by 2029, growing at a CAGR of 8.83% during the forecast period (2024-2029).

United Arab Emirates (UAE) the popular MICE events destination faced huge revenue loss due to strict travel restrictions that has led to the closure of Emirati Airlines, hotels, and tourism sectors. For instance, as stated on November 5, 2020, in the Nature Portfolio, a popular research journal, Dubai held 301 meetings, incentives, and conferences that were organized by Dubai Business Events in 2019 and this number declined significantly in 2020 due to the pandemic. Over the past two decades, the UAE's strategic development agenda and key location have made it a Middle Eastern hub for tourism and international businesses. The country has long been a magnet for worldwide travelers, and has two-thirds of the world's population within an eight-hour flight radius.

Due to COVID-19, the UAE is at the forefront in terms of reducing demand for MICE services, as well as for global air travel. Emirati Airlines, hotels, and other travel and tourism-related businesses have experienced significant oversupply. Compared to the same period of 2019, the most considerable fall of scheduled departure flights in the UAE occurred on June 1, 2020, and equalled 82%. Despite the fact that the industry has started to recover after weakening anti-epidemic measures, this process can take some time (provided severe anti-pandemic measures will not be restored along with the new wave of COVID-2019).

The Gulf region's MICE segment has expanded significantly over the past couple of years, led by the UAE which commands 50% share of the region's total MICE market. This can be attributed to the country's eventful calendar all year round.

Furthermore, the Abu Dhabi Economic Vision 2030, Dubai Tourism Vision 2020 and Sharjah Tourism Vision 2021 have been launched to diversify the local economy, in the fulfillment of which the MICE industry is poised to play a major role.

UAE 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 UAE 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 UAE MICE Tourism Market.

By Event
Meeting
Incentive
Conventions
Exhibitions
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MICE Tourism Market Size Summary

The UAE MICE tourism market, a significant player in the Gulf region, has faced substantial challenges due to the COVID-19 pandemic, which led to a drastic decline in demand for MICE services and global air travel. The pandemic resulted in the closure of Emirati Airlines, hotels, and tourism sectors, severely impacting the industry. However, the UAE's strategic location and its role as a Middle Eastern hub for tourism and international business have positioned it for recovery. The country commands a significant share of the region's MICE market, supported by a year-round calendar of events and initiatives like the Abu Dhabi Economic Vision 2030 and Dubai Tourism Vision 2020, which aim to diversify the local economy with the MICE industry playing a crucial role.

Despite the pandemic's impact, the UAE is poised for growth in the MICE sector, driven by technological advancements and a focus on personalized and smart technology experiences. Dubai's Tourism Strategy 2022-25 emphasizes a digital, mobile, and social-first approach, aiming to create a highly digitized and customized travel ecosystem. The shift towards virtual meetings during the pandemic has also influenced the industry, offering cost-effective alternatives to traditional destination meetings. The Abu Dhabi government is investing heavily in MICE infrastructure, with the city targeting significant business visitor growth. The market is expected to expand in the coming years, supported by major players and events like Expo 2020 Dubai, which have revitalized the MICE industry in the UAE and the region.

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MICE Tourism Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Insights on Various Regulatory Landscape

    5. 1.5 Insights on impact of technology and innovation in the Market

    6. 1.6 Value Chain Analysis

    7. 1.7 Industry Attractiveness - Porters' Five Forces Analysis

      1. 1.7.1 Threat of New Entrants

      2. 1.7.2 Bargaining Power of Buyers

      3. 1.7.3 Bargaining Power of Suppliers

      4. 1.7.4 Threat of Substitutes

      5. 1.7.5 Intensity of Competitive Rivalry

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Event

      1. 2.1.1 Meeting

      2. 2.1.2 Incentive

      3. 2.1.3 Conventions

      4. 2.1.4 Exhibitions

MICE Tourism Market Size FAQs

The MICE Tourism Market size is expected to reach USD 5.62 billion in 2024 and grow at a CAGR of 8.83% to reach USD 8.58 billion by 2029.

In 2024, the MICE Tourism Market size is expected to reach USD 5.62 billion.

UAE MICE Tourism Market Report Snapshots

UAE MICE Tourism Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)