MICE tourism is expected to grow at a CAGR of 8.6% to reach $441.1 billion by 2025

Published on : Thursday, June 27, 2019

Meetings, Incentives, Conventions and Exhibitions or MICE represents tourism sector that includes business events and activities. Travelers attending MICE activities are business travelers who are connected to different sectors of the tourism and hospitality industry through their MICE activities.

 

In 2017, the Asia-Pacific MICE industry generated revenue of $229.0 billion, and is expected to grow at a CAGR of 8.6% to reach $441.1 billion by 2025.

 

The growth of the Asia-Pacific MICE industry is boosted by massive increase in business activities like client meetings, brand promotions, employee training activities & others. Swift rise in tourism and hospitability sectors and increase in presence of corporate industries are other important factors. Other significant factors promoting growth of the market are increase in business travel coupled with change in lifestyle of business travelers looking for leisure trips, rapid urbanization, and increase in disposable incomes.

 

Increase in government initiatives to promote SMEs and liberalization of market entry to increase FDIs are expected to further boost the growth of the MICE industry.

 


(No Like Yet)

Related Posts

Tags:

Comments are closed.

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  rss_logo 
ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 01 WTM London 2020
  • 06 ITB Asia 2020
  • 12 ITE Hong Kong 2020
  • 13 IMEX 20
  • 16 FHC 2020
  • 16 G&A 2020
  • 16 ITB asia 2020
  • 16 TAAPE 2020
  • 17 AAA-banner 2020
  • 18 WCTIE 2020
  • 20 GWS-2020
  • 23 emitt 21
  • 30 PATA

TRAVEL INDUSTRY EVENTS

    1. Travel forward online

      July 14 @ 9:00 AM - July 28 @ 12:00 PM
    2. DRT SHOW SHANGHAI

      July 17 - July 19
    3. SHANGHAI WORLD TRAVEL FAIR (SWTF)

      July 30 - August 2
    4. IT&CM CHINA 2020

      August 3 - August 5
    5. Asia Amusement & Attractions Expo 2020

      August 4 - August 6
Get our toolbar!
Review www.travelandtourworld.com on alexa.com