PUBLISHER: Allied Market Research | PRODUCT CODE: 1179619
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179619
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.
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.