Outbound MICE Market By Event Type (Meetings, Incentives, Conventions, Exhibitions): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global outbound MICE market size was valued at $225.9 billion in 2021 and is estimated to reach $1,272.2 billion by 2031, registering a CAGR of 13.3% from 2022 to 2031. Business travel is on the rise globally, among the many other travel-related activities including leisure, social, religious, educational, medical, retail, and so forth. This is largely attributable to an increase in the number of visits made to attend or take part in meetings, conferences, seminars, workshops and others. These travelers are frequently referred to as MICE travelers. Meetings, incentives, conferences, and exhibits are referred to by the abbreviation MICE. Meetings industry is another name for the MICE sector of the tourist business.
For the market analysis, the outbound MICE market is segmented into event type and region. By event type, it is segregated into meeting, incentive, convention, and exhibition. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, Spain, France, Italy, and Rest of Europe), Asia-Pacific (China, India, Singapore, Australia, Japan, Malaysia, South Korea, Hong Kong, and Rest of AsiaPacific), and LAMEA (Latin America, Middle East, and Africa).
Region wise, LAMEA has gained considerable share in outbound MICE market and is expected grow at highest CAGR. New MICE locations are emerging, and they might even become more prominent than before as the MICE market looks more and more for distinctive and unforgettable experiences. Outbound MICE tourism is becoming more and more important to nations in Latin America and Africa. A nation like Egypt has been developing its infrastructure and is experiencing an increase in MICE tourism. Thereby growth in infrastructural development, better airline connections, decreasing rate of terror attacks, and surge in foreign direct investment in emerging countries of Latin America and Africa are likely to supplement the growth for the outbound MICE market during the forecast period.
The major players operating in the market are 360 Destination Group, Access Destination Services, ATPI LTD., BCD GROUP (BCD MEETINGS & EVENTS), BI Worldwide, Carlson Wagonlit Travel (CWT Meetings & Events), CIEVENTS, Conference Care Ltd., Creative Group, Inc., CSI DMC, IBTM, ITA Group, MARITZ, Meetings & Incentives Worldwide, Inc., ONE10, LLC, The Freeman Company, and The Interpublic Group of Companies, Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the outbound mice market analysis from 2021 to 2031 to identify the prevailing outbound mice market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the outbound mice market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global outbound mice market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Event Type
Meetings
Incentives
Conventions
Exhibitions
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
Spain
France
Italy
Rest Of Europe
Asia-Pacific
China
India
Singapore
Australia
Japan
Malaysia
South Korea
Hong Kong
Rest Of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
360 Destination Group
Access Destination Services
ATPI LTD.
BCD GROUP (BCD MEETINGS & EVENTS)
BI Worldwide
Carlson Wagonlit Travel (CWT Meetings & Events)
CIEVENTS
Conference Care Ltd.
Creative Group, Inc.
CSI DMC
IBTM
ITA Group
MARITZ
Meetings & Incentives Worldwide, Inc.
ONE10, LLC
The Freeman Company
The Interpublic Group of Companies, Inc.
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