PUBLISHER: The Business Research Company | PRODUCT CODE: 1804948
PUBLISHER: The Business Research Company | PRODUCT CODE: 1804948
Meetings, Incentives, Conferences, and Exhibitions (MICE) constitute a vital segment within the tourism and events sector, drawing together sizable cohorts united by shared interests or goals to convene for meetings, conferences, exhibitions, or incentive travel programs. This sector holds substantial sway in the global economy, embracing a diverse array of events that bolster business expansion, knowledge dissemination, networking opportunities, and tourism initiatives.
The principal event categories within the Meetings, Incentives, Conferences, and Exhibitions (MICE) domain encompass meetings, incentives, conferences, and exhibitions. Meetings entail assemblies for business-related conversations, typically hosted in hotel conference rooms or event centers. A range of services including event planning, venue management, accommodations, and catering are enlisted across academic, business, political, exhibition, and other sectors, catering to the needs of corporate, governmental, and association clients.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and resulting trade tensions in spring 2025 are significantly affecting the hospitality sector, especially in areas reliant on imported food and beverage products, furnishings, electronics, and kitchen equipment. Hotels and restaurants are grappling with increased costs for items such as imported wine, seafood, coffee machines, linens, and smart appliances, many of which lack viable domestic substitutes. Budget and mid-range hospitality operators, already working with narrow profit margins, are particularly at risk, with some opting to scale back services or postpone renovations to control costs. Event venues and catering businesses are also facing challenges due to higher prices for imported decor, lighting, and audiovisual gear. In response, the sector is increasingly turning to local suppliers for food and furnishings, renegotiating contracts, and pushing for tariff exemptions on essential imports.
The meetings, incentives, conferences, and exhibitions (MICE) market research report is one of a series of new reports from The Business Research Company that provides meetings, incentives, conferences, and exhibitions (MICE) market statistics, including meetings, incentives, conferences, and exhibitions (MICE) industry global market size, regional shares, competitors with a meetings, incentives, conferences, and exhibitions (MICE) market share, detailed meetings, incentives, conferences, and exhibitions (MICE) market segments, market trends and opportunities, and any further data you may need to thrive in the meetings, incentives, conferences, and exhibitions (MICE) industry. These meetings, incentives, conferences, and exhibition (MICE) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The meetings, incentives, conferences, and exhibitions (mice) market size has grown strongly in recent years. It will grow from $978.77 billion in 2024 to $1059.78 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to growing business networking and knowledge sharing, demand for industry-specific conferences and exhibitions, increasing incentive programs and corporate events, rising meeting and events industry, growing change in consumer preferences.
The meetings, incentives, conferences, and exhibitions (mice) market size is expected to see strong growth in the next few years. It will grow to " $1450.27 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing interconnectedness of businesses globally, increasing expansion and developments of various businesses, growing popularity of virtual meetings among businesses, economic development and tourism promotion, the increase in business trips worldwide. Major trends in the forecast period include integration of cutting-edge technology, advancements in medical and scientific fields, the rise in social media advertisements related to organizing corporate, organizer focus on adoption of latest technology, growing business opportunities.
The forecast of 8.2% growth over the next five years reflects a slight reduction of 0.1% from the previous projection. This reduction is primarily due to the impact of tariffs between the US and other countries. Tariff barriers could strain U.S. event planners by raising prices for modular staging systems and holographic presentation tech imported from the Netherlands and Taiwan, increasing overhead for large-scale gatherings. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The anticipated rise in global business travel is poised to drive the expansion of the Meetings, Incentives, Conferences, and Exhibitions (MICE) market in the foreseeable future. Business trips involve professionals traveling on behalf of their companies for various work-related purposes such as meetings, conferences, client interactions, and other business engagements. MICE events offer valuable networking avenues for business travelers, facilitating connections with industry peers, potential clients, suppliers, and partners from across the globe. For instance, in August 2023, the Global Business Travel Association reported a substantial 47% increase in global spending on business travel, reaching $1.03 trillion in 2022, with a projected growth rate of 32% in 2023. Consequently, the surge in business trips globally is fueling the growth trajectory of the MICE market.
Prominent players in the MICE market are actively investing in pioneering technologies, such as state-of-the-art technology centers, to enhance customer satisfaction. A cutting-edge technology center denotes a facility dedicated to developing and deploying innovative solutions leveraging the latest advancements in technology. For example, in October 2022, BI Worldwide Ltd., a US-based global engagement agency specializing in employee engagement, event management, and incentive travel for sales and channel partners, introduced cutting-edge technology centers aimed at elevating service standards and offering advanced solutions to clients. These centers are tailored to deliver inventive solutions for loyalty and engagement, bolstering the company's technological capabilities. They are crafted to accommodate a diverse, multi-generational workforce, fostering collaboration, promoting design thinking, and delivering tangible technology-driven outcomes.
In January 2023, ITA Group, a US-based firm specializing in bespoke global engagement solutions designed to motivate and inspire event participants, completed the acquisition of HTK Limited for an undisclosed sum. This strategic move is intended to bolster ITA Group's capacity to offer data-centric loyalty and engagement solutions while also providing clients with advanced data insights, machine learning capabilities, and innovative loyalty marketing solutions. HTK Limited, headquartered in the UK, is recognized for its MICE Support Program, further enhancing ITA Group's offerings in the market.
Major companies operating in the meetings, incentives, conferences, and exhibitions (mice) market report are Capita plc, The Freeman Company, American Express Company, Maritz Global Events, ATPI Ltd., FCM Meetings & Events, Aviareps AG, MCI Group, ITA Group, Creative Group Inc., One10 LLC, BCD Meetings & Events, Meetings and Incentives Worldwide Inc., Itl World Company (Miceminds), Questex, Conference Care Ltd., CWT Meetings & Events, Ci Events, Grass Roots Meetings & Events, International Marketing Corporation Pvt Ltd, Beyond Summits Ltd., Cambria DMC, Carlson Wagonlit Travel, BESynergy, Flight Centre Travel Group Limited, Global Cynergies LLC
Asia-Pacific was the largest region in the meetings, incentives, conferences, and exhibitions (MICE) market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the meetings, incentives, conferences, and exhibitions (mice) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the meetings, incentives, conferences, and exhibitions (mice) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The meetings, incentives, conferences, and exhibitions (MICE) market includes revenues earned by entities by providing services such as transportation services, audio-visual and technology support, registration services, incentive travel programs, and team-building activities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Meetings, Incentives, Conferences, And Exhibitions (MICE) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on meetings, incentives, conferences, and exhibitions (mice) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for meetings, incentives, conferences, and exhibitions (mice) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The meetings, incentives, conferences, and exhibitions (mice) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.