MICE Market Size, Status and Forecast 2020-2026

Meetings, incentives, conferences and exhibitions (MICE) is a type of tourism in which large groups, usually planned well in advance, are brought together for a particular purpose. Recently, there has been an industry trend towards using the term ‘meetings industry’ to avoid confusion from the acronym. Other industry educators are recommending the use of “events industry” to be an umbrella term for the vast scope of the meeting and events profession.

Indonesia is rich in tourism resources. The tourism industry is growing into one of Indonesia’s pillar industries, and its contribution to GDP is now 3.78%.

Indonesias tourism competitiveness ranks 70th in nearly 200 countries and regions around the world.

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By Application, the Business Feild accounts for the largest market share which is anout 64.07% in 2017.

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the MICE market in 2020.

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

This report also analyses the impact of Coronavirus COVID-19 on the MICE industry.

Based on our recent survey, we have several different scenarios about the MICE YoY growth rate for 2020. The probable scenario is expected to grow by a xx% in 2020 and the revenue will be xx in 2020 from US$ xx million in 2019. The market size of MICE will reach xx in 2026, with a CAGR of xx% from 2020 to 2026.

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global MICE market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global MICE market in terms of revenue.

Players, stakeholders, and other participants in the global MICE market will be able to gain the upper hand as they use the report as a powerful resource. For this version of the report, the segmental analysis focuses on revenue and forecast by each application segment in terms of revenue and forecast by each type segment in terms of revenue for the period 2015–2026.

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global MICE market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.

The report includes country-wise and region-wise market size for the period 2015–2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015–2026.

Competition Analysis

In the competitive analysis section of the report, leading as well as prominent players of the global MICE market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015–2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015–2020.

On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global MICE market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global MICE market.

The following players are covered in this report:

PT Pamerindo Indonesia
Pamerindo
GEM INDONESIA
Debindo-ITE
MELALI MICE
Indonesian Congress and Convention Association
Indonesian Exhibition Companies Association
Indonesia Hotel and Restaurant Association
Association of The Indonesia Tours & Travel Agencies
Society of Indonesia Professional Convention Organizer

MICE Breakdown Data by Type

Meetings
Incentives
Conferencing
Exhibitions

MICE Breakdown Data by Application

Academic Feild
Business Feild
Political Field
Exhibitions
Others

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