Key Takeaways
- The global MICE industry market size was valued at USD 2,309.4 billion in 2022 and is projected to reach USD 2,948.4 billion by 2032, growing at a CAGR of 2.5% from 2023 to 2032.
- In 2023, the Asia-Pacific MICE market accounted for over 35% of the global share, valued at approximately USD 800 billion.
- North America's MICE sector generated USD 450 billion in revenue in 2022, driven by major convention centers in the US.
- The MICE industry contributed 10% to global GDP in 2019, equating to USD 1.5 trillion.
- In the US, MICE generated USD 2.5 trillion in total economic output in 2019.
- Asia-Pacific MICE supported 25 million jobs indirectly, contributing USD 900 billion to GDP in 2022.
- Global MICE employed 300 million people directly and indirectly in 2023.
- US MICE industry supported 5.7 million jobs in 2023.
- Asia-Pacific MICE workforce totaled 100 million in 2023.
- In 2023, over 10,000 international conferences were held globally in the MICE sector.
- The US hosted 1,500 major conventions with 25 million attendees in 2023.
- Asia-Pacific saw 4,000 conferences, attracting 15 million delegates in 2023.
The MICE industry is a massive and growing global economic powerhouse.
Conferences
- In 2023, over 10,000 international conferences were held globally in the MICE sector.
- The US hosted 1,500 major conventions with 25 million attendees in 2023.
- Asia-Pacific saw 4,000 conferences, attracting 15 million delegates in 2023.
- Europe hosted 3,500 international conferences in 2023.
- Incentive trips numbered 20 million participants globally in 2023.
- China organized 2,000 large-scale conferences in 2023.
- Global exhibitions totaled 30,000 events with 180 million visitors in 2023.
- Meetings held worldwide exceeded 50 million in 2023.
- Dubai hosted 500 international conferences in 2023.
- Singapore ran 1,200 MICE events including conferences in 2023.
- Australia conferences attracted 2 million delegates in 2023.
- India hosted 1,000 major conferences in 2023.
- Germany conferences numbered 2,000 with 5 million attendees in 2023.
- France held 1,500 conferences in 2023.
- UK hosted 1,800 conferences attracting 4 million in 2023.
- Brazil conferences totaled 800 with 3 million attendees in 2023.
- Canada hosted 900 conferences in 2023.
- South Africa conferences 400 events in 2023.
- Thailand hosted 1,000 conferences with 2 million delegates in 2023.
- Mexico conferences numbered 600 in 2023.
- Spain hosted 1,200 conferences in 2023.
- Italy conferences 1,000 events in 2023.
- Netherlands hosted 700 conferences in 2023.
- Switzerland conferences attracted 1.5 million delegates in 2023.
Conferences Interpretation
Economic Impact
- The MICE industry contributed 10% to global GDP in 2019, equating to USD 1.5 trillion.
- In the US, MICE generated USD 2.5 trillion in total economic output in 2019.
- Asia-Pacific MICE supported 25 million jobs indirectly, contributing USD 900 billion to GDP in 2022.
- Europe's MICE industry added EUR 500 billion to GDP in 2023.
- Incentive travel in MICE created USD 200 billion in economic spillover effects globally in 2023.
- US conventions and exhibitions generated USD 115 billion in direct spending in 2023.
- China's MICE events contributed 1.5% to national GDP, or CNY 1.8 trillion in 2022.
- Global conferences drove USD 300 billion in business deals and investments in 2023.
- Exhibitions worldwide created USD 400 billion in supply chain spending in 2023.
- Meetings segment economic impact reached USD 800 billion globally in 2023.
- Dubai MICE contributed 12% to emirate's GDP, USD 30 billion in 2023.
- Singapore's MICE industry generated SGD 3 billion in tourism receipts in 2023.
- Australia's MICE added AUD 60 billion to economy in 2023.
- India's MICE sector boosted GDP by INR 5 trillion in 2023.
- Germany's MICE events created EUR 50 billion economic value in 2023.
- France MICE contributed EUR 40 billion to GDP in 2023.
- UK MICE generated GBP 50 billion in economic output in 2023.
- Brazil's MICE industry added BRL 100 billion to economy in 2023.
- Canada's MICE spending totaled CAD 50 billion in direct impact in 2023.
- South Africa MICE contributed ZAR 150 billion to GDP in 2023.
- Thailand's MICE generated THB 500 billion economic value in 2023.
- Mexico MICE added USD 20 billion to national economy in 2023.
- Spain's MICE industry created EUR 35 billion impact in 2023.
- Italy MICE contributed EUR 30 billion to GDP in 2023.
- Netherlands MICE generated EUR 15 billion economic output in 2023.
- Switzerland's MICE added CHF 25 billion to economy in 2023.
Economic Impact Interpretation
Employment
- Global MICE employed 300 million people directly and indirectly in 2023.
- US MICE industry supported 5.7 million jobs in 2023.
- Asia-Pacific MICE workforce totaled 100 million in 2023.
- Europe's MICE sector employed 7 million directly in 2023.
- Incentive travel employed 2 million globally in 2023.
- China MICE jobs reached 15 million in 2023.
- US exhibition staff numbered 1.2 million in 2023.
- Global conference organizers employed 500,000 professionals in 2023.
- Meetings industry supported 100 million jobs worldwide in 2023.
- Dubai MICE employed 200,000 people in 2023.
- Singapore MICE workforce at 50,000 direct jobs in 2023.
- Australia MICE supported 250,000 jobs in 2023.
- India MICE employed 2 million in 2023.
- Germany MICE jobs totaled 500,000 in 2023.
- France employed 300,000 in MICE sector in 2023.
- UK MICE supported 600,000 jobs in 2023.
- Brazil MICE employed 400,000 in 2023.
- Canada MICE jobs at 300,000 in 2023.
- South Africa MICE employed 100,000 directly in 2023.
- Thailand MICE workforce 150,000 in 2023.
- Mexico MICE supported 200,000 jobs in 2023.
- Spain MICE employed 400,000 in 2023.
- Italy's MICE sector had 350,000 jobs in 2023.
- Netherlands MICE jobs 100,000 in 2023.
- Switzerland employed 80,000 in MICE in 2023.
Employment Interpretation
Market Size
- The global MICE industry market size was valued at USD 2,309.4 billion in 2022 and is projected to reach USD 2,948.4 billion by 2032, growing at a CAGR of 2.5% from 2023 to 2032.
- In 2023, the Asia-Pacific MICE market accounted for over 35% of the global share, valued at approximately USD 800 billion.
- North America's MICE sector generated USD 450 billion in revenue in 2022, driven by major convention centers in the US.
- Europe's MICE market size stood at USD 650 billion in 2023, with Germany leading at 18% regional share.
- The incentive travel segment of MICE reached USD 120 billion globally in 2023.
- US MICE industry revenue hit USD 400 billion in 2023 post-recovery from COVID-19.
- China's MICE market was valued at USD 250 billion in 2022, largest in Asia.
- Meetings segment contributed 45% to global MICE revenue, equating to USD 1,050 billion in 2023.
- Exhibitions in MICE generated USD 500 billion worldwide in 2023.
- Conferences segment valued at USD 700 billion globally in 2023.
- Latin America's MICE market size grew to USD 150 billion in 2023.
- Middle East MICE industry reached USD 100 billion in 2023, boosted by UAE events.
- Australia's MICE sector valued at USD 40 billion in 2023.
- India's MICE market expanded to USD 60 billion in 2023.
- South Korea's MICE revenue was USD 35 billion in 2023.
- Japan's exhibition market within MICE hit USD 50 billion in 2023.
- UK MICE industry size at USD 70 billion in 2023.
- France's MICE sector generated USD 55 billion in 2023.
- Singapore MICE market valued at USD 12 billion in 2023.
- Dubai's MICE revenue reached USD 25 billion in 2023.
- Brazil MICE market size USD 30 billion in 2023.
- Canada MICE industry at USD 35 billion in 2023.
- South Africa's MICE sector valued USD 8 billion in 2023.
- Thailand MICE market USD 20 billion in 2023.
- Mexico MICE revenue USD 15 billion in 2023.
- Spain MICE industry USD 45 billion in 2023.
- Italy's MICE market at USD 40 billion in 2023.
- Netherlands MICE sector USD 18 billion in 2023.
- Switzerland MICE revenue USD 22 billion in 2023.
- Global MICE market post-COVID recovery reached 85% of 2019 levels by end of 2023.
Market Size Interpretation
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