MICE tourism set for significant growth by 2031

22-03-23

According to the report published by Research Dive, the global MICE industry market is projected to generate revenues of USD 1990.1 billion and grow at a CAGR of 7.0% during the estimated period 2022 to 2031.

With rapid economic expansion due to increasing globalization of businesses, the MICE industry market is projected to witness prominent growth during the analysis period. Moreover, companies are investing to visit different locations, organize events, and provide cross-cultural employee training that provides unique opportunities to employees, which is expected to drive the market growth in the upcoming period. However, high operational cost associated with the MICE industry may hamper the market growth during the review period.