The Global MICE Industry is Growing
The Meetings, Incentives, Conventions and Exhibitions (MICE) industry is an important segment of the tourism industry, and is a growing sector with great potential. The MICE industry comprises of the upper-stream (such as MICE activity organizers), midstream (such as accommodation, facilities and services suppliers) and downstream (such as adverting agencies, logistics services providers and travel agencies) industries. Therefore, the MICE industry involves a wide range of sectors such as tourism, hotels, transportation, catering, real estate and retail. A successful MICE industry is believed to have significant positive impact on a country’s economy. Apart from bringing significant economic benefits, such as national income and job opportunities, it also benefits a destination by providing opportunities for knowledge sharing, country brand development and network building.