India holds good potential in MICE tourism

Published on : Monday, May 6, 2019

A new report from FICCI said that a strong economic growth along with rapid emergence of India as a possible MICE tourism destination in the global stage is growing at a much faster rate.

 

India is the latest entrant in the MICE tourism segment. Of the total 12,563 international meetings globally, India hosts only 175 or 14% worldwide.

 

Last year, MICE tourism was pegged at Rs. 25,000 crore with 8% growth year-on-year, according to the report, “India Inbound Tourism: Unlocking the Opportunity.”

 

The global MICE tourism industry is estimated to be growing at a CAGR of 7.5%, reaching 1.2 trillion dollars by 2023. The Asia-Pacific region is expected to lead this with 8.6% growth.

 

India ranks fifth in the Asia-Pacific region after Japan, China, South Korea and Australia. India has a variety of destinations which can be included with diverse tourism offerings to increase MICE tourism.


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