Global Outbound MICE Market to Witness Steady Growth with a CAGR of 4.6% through 2023-2030
According to a new report published by MarkWide Research, titled, “Outbound MICE Market,” the global outbound MICE (Meetings, Incentives, Conferences, and Exhibitions) market is set to witness steady growth, projecting a CAGR of 4.6% during the forecast period of 2023-2030. This comprehensive market research report provides an in-depth analysis of the current market dynamics, key trends, growth drivers, challenges, and opportunities within the outbound MICE industry.
City, Date – The outbound MICE industry plays a crucial role in facilitating business events, conferences, and exhibitions across international destinations. The global outbound MICE market is experiencing growth due to several key factors:
- Corporate Meetings: The need for companies to organize meetings and conferences to collaborate and strategize.
- Incentive Travel: Organizations use incentive trips to motivate employees, boosting the MICE market.
- International Exhibitions: Participation in international exhibitions and trade shows to expand business opportunities.
- Growth of Global Businesses: As businesses expand globally, the demand for outbound MICE services increases.
- Tourism and Hospitality: The growth of the tourism and hospitality sector supports MICE events.
The global outbound MICE market is segmented based on type (meetings, incentives, conferences, and exhibitions), industry vertical (corporate, government, education, and others), and region.
Geographically, North America and Europe are prominent markets for outbound MICE, with a strong presence of corporate entities and a history of hosting international conferences. Asia-Pacific is witnessing growth, driven by emerging economies, rising investments, and the growth of the technology sector.
Key players in the global outbound MICE market include CWT Meetings & Events, BCD Meetings & Events, and The Freeman Company, among others. These companies offer end-to-end MICE services, including event planning, logistics, and technology solutions.
In conclusion, the global outbound MICE market is set to witness steady growth as businesses, governments, and organizations continue to recognize the value of international meetings and events in achieving their objectives.