Outbound MICE Market Size, Trends and Insights By Type (Meetings, Incentives, Conferences, Exhibitions), By Destination (Domestic, International), By Industry Vertical (Corporate, Government, Education, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- BI Worldwide
- BCD Meetings & Events
- ITA Group Inc.
- Maritz Global Events
- CWT Meetings & Events
- Others
Reports Description
Global Outbound MICE Market is set for growth from 2023 to 2032, driven by the increasing globalization of businesses and the need for corporate events and incentive programs. The market is expected to experience a CAGR of approximately 6.75% during this period. In 2022, the market is expected to be valued at USD 32.10 Billion, and it is projected to reach USD 56.60 Billion by 2032.
Outbound MICE, encompassing meetings, incentives, conferences, and exhibitions, plays a vital role in corporate and government sectors by facilitating various business events, knowledge exchange, and networking opportunities. The market comprises a range of services, from domestic to international destinations, catering to diverse industry verticals.
Outbound MICE Market – Significant Growth Factors
- Global Business Expansion: As businesses expand internationally, the need for corporate events and meetings in different destinations increases.
- Incentive Programs: Incentive travel and reward programs are important for employee motivation and performance.
- Industry-Specific Events: The corporate, government, and education sectors require specific events for networking and knowledge sharing.
- Networking Opportunities: Conferences and exhibitions provide valuable networking opportunities for industry professionals.
- Tourism Promotion: Governments and organizations focus on promoting tourism through MICE events.
Outbound MICE Market – Mergers and Acquisitions
- BI Worldwide’s Expansion: BI Worldwide has expanded its outbound MICE services through strategic acquisitions, enhancing its global presence.
- CWT Meetings & Events Collaborations: CWT Meetings & Events has entered into collaborations with industry partners to provide comprehensive MICE solutions.
- Pulse Group’s Technology Integration: Pulse Group has invested in technology to enhance event management and improve customer experience.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Outbound MICE Market | MICE Market | Inbound Meetings Incentives Conferences and Exhibitions (MICE) Tourism Market |
| CAGR 6.75% (Approx) | CAGR 18.2% (Approx) | CAGR 8.2% (Approx) |
| USD 56.60 Billion by 2032 | USD 1620.7 Billion by 2032 | USD 975.5 Billion by 2032 |
Outbound MICE Market – Significant Challenges
- Economic Volatility: Economic fluctuations can impact corporate budgets for outbound MICE events.
- Travel Restrictions: Political and health-related travel restrictions can affect international MICE events.
- Security Concerns: Security and safety are significant concerns, especially for international meetings and conferences.
- Competitive Pricing: Competitive pricing in the MICE industry can affect profit margins.
- Environmental Sustainability: The focus on sustainability and reducing the carbon footprint is influencing MICE destination choices.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 34.55 Billion |
| Projected Market Size in 2032 | USD 56.60 Billion |
| Market Size in 2022 | USD 32.10 Billion |
| CAGR Growth Rate | 6.75% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Destination, Industry Vertical and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Category-Wise Insights
By Type:
- Meetings: Meetings involve small to large gatherings for business discussions, decision-making, and knowledge sharing.
- Incentives: Incentive programs include rewards such as travel and experiences to motivate and recognize employees or partners.
- Conferences: Conferences are organized for industry-specific discussions, networking, and knowledge exchange.
- Exhibitions: Exhibitions are events where companies showcase products and services to a targeted audience.
By Destination:
- Domestic: Domestic MICE events cater to local markets and offer cost-effective options for businesses.
- International: International MICE events provide global exposure and networking opportunities, albeit at higher costs.
By Industry Vertical:
- Corporate: Corporate MICE events cater to businesses and organizations for internal and external purposes.
- Government: Government MICE events include conferences, summits, and meetings organized by government bodies.
- Education: Educational MICE events encompass seminars, workshops, and conferences in the academic sector.
- Others: Other industry verticals, such as healthcare, technology, and finance, also utilize outbound MICE services.
Outbound MICE Market – Regional Analysis
North America:
- North America, particularly the United States, is a key market for outbound MICE, with a strong corporate sector.
- The region benefits from established infrastructure and a diverse range of industry verticals.
- Technological advancements and investments in event management drive the industry’s development.
Europe:
- Europe has a strong presence in the MICE industry, with various international conferences and exhibitions hosted across the region.
- Strict regulatory compliance and environmental concerns influence MICE destination choices.
- Government support for the MICE sector and cultural diversity contribute to market growth.
Asia-Pacific:
- Asia-Pacific, led by China and Southeast Asian countries, is emerging as a popular destination for international MICE events.
- The region’s rapid economic growth and increasing business activities drive the demand for outbound MICE services.
- Infrastructure development, including world-class venues, is a key driver in the Asia-Pacific market.
Latin America:
- Latin America, including Brazil and Mexico, is expanding its presence in the outbound MICE market.
- Growth is driven by increased government and corporate events and tourism promotion.
- Challenges include political and economic volatility in some countries.
List of the prominent players in the Outbound MICE Market:
- BI Worldwide
- BCD Meetings & Events
- ITA Group Inc.
- Maritz Global Events
- CWT Meetings & Events
- One10
- Pulse Group
- Shangri-La Hotels and Resorts
- IBTM World
- Reed Exhibitions
- Others
The Outbound MICE Market is segmented as follows:
By Type
- Meetings
- Incentives
- Conferences
- Exhibitions
By Destination
- Domestic
- International
By Industry Vertical
- Corporate
- Government
- Education
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Outbound MICE Market, (2024 – 2033) (USD Billion)
- 2.2 Global Outbound MICE Market: snapshot
- Chapter 3. Global Outbound MICE Market – Industry Analysis
- 3.1 Outbound MICE Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Global Business Expansion
- 3.2.2 Incentive Programs
- 3.2.3 Industry-Specific Events
- 3.2.4 Networking Opportunities
- 3.2.5 Tourism Promotion.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Destination
- 3.7.3 Market Attractiveness Analysis By Industry Vertical
- Chapter 4. Global Outbound MICE Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Outbound MICE Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Outbound MICE Market – Type Analysis
- 5.1 Global Outbound MICE Market Overview: By Type
- 5.1.1 Global Outbound MICE Market Share, By Type, 2022 and – 2033
- 5.2 Meetings
- 5.2.1 Global Outbound MICE Market by Meetings, 2024 – 2033 (USD Billion)
- 5.3 Incentives
- 5.3.1 Global Outbound MICE Market by Incentives, 2024 – 2033 (USD Billion)
- 5.4 Conferences
- 5.4.1 Global Outbound MICE Market by Conferences, 2024 – 2033 (USD Billion)
- 5.5 Exhibitions
- 5.5.1 Global Outbound MICE Market by Exhibitions, 2024 – 2033 (USD Billion)
- 5.1 Global Outbound MICE Market Overview: By Type
- Chapter 6. Global Outbound MICE Market – Destination Analysis
- 6.1 Global Outbound MICE Market Overview: By Destination
- 6.1.1 Global Outbound MICE Market Share, By Destination, 2022 and – 2033
- 6.2 Domestic
- 6.2.1 Global Outbound MICE Market by Domestic, 2024 – 2033 (USD Billion)
- 6.3 International
- 6.3.1 Global Outbound MICE Market by International, 2024 – 2033 (USD Billion)
- 6.1 Global Outbound MICE Market Overview: By Destination
- Chapter 7. Global Outbound MICE Market – Industry Vertical Analysis
- 7.1 Global Outbound MICE Market Overview: By Industry Vertical
- 7.1.1 Global Outbound MICE Market Share, By Industry Vertical, 2022 and – 2033
- 7.2 Corporate
- 7.2.1 Global Outbound MICE Market by Corporate, 2024 – 2033 (USD Billion)
- 7.3 Government
- 7.3.1 Global Outbound MICE Market by Government, 2024 – 2033 (USD Billion)
- 7.4 Education
- 7.4.1 Global Outbound MICE Market by Education, 2024 – 2033 (USD Billion)
- 7.5 Others
- 7.5.1 Global Outbound MICE Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Outbound MICE Market Overview: By Industry Vertical
- Chapter 8. Outbound MICE Markets – Regional Analysis
- 8.1 Global Outbounds MICE Markets Regional Overview
- 8.2 Global Outbounds MICE Markets Share, by Region, 2022 & – 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Outbounds MICE Markets, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.4 North America Outbounds MICE Markets, by Type, 2024 – 2033
- 8.4.1 North America Outbounds MICE Markets, by Type, 2024 – 2033 (USD Billion)
- 8.5 North America Outbounds MICE Markets, by Destination, 2024 – 2033
- 8.5.1 North America Outbounds MICE Markets, by Destination, 2024 – 2033 (USD Billion)
- 8.6 North America Outbounds MICE Markets, by Industry Vertical, 2024 – 2033
- 8.6.1 North America Outbounds MICE Markets, by Industry Vertical, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Outbounds MICE Markets, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.8 Europe Outbounds MICE Markets, by Type, 2024 – 2033
- 8.8.1 Europe Outbounds MICE Markets, by Type, 2024 – 2033 (USD Billion)
- 8.9 Europe Outbounds MICE Markets, by Destination, 2024 – 2033
- 8.9.1 Europe Outbounds MICE Markets, by Destination, 2024 – 2033 (USD Billion)
- 8.10 Europe Outbounds MICE Markets, by Industry Vertical, 2024 – 2033
- 8.10.1 Europe Outbounds MICE Markets, by Industry Vertical, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Outbounds MICE Markets, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Outbounds MICE Markets, by Type, 2024 – 2033
- 8.12.1 Asia Pacific Outbounds MICE Markets, by Type, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Outbounds MICE Markets, by Destination, 2024 – 2033
- 8.13.1 Asia Pacific Outbounds MICE Markets, by Destination, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Outbounds MICE Markets, by Industry Vertical, 2024 – 2033
- 8.14.1 Asia Pacific Outbounds MICE Markets, by Industry Vertical, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Outbounds MICE Markets, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.16 Latin America Outbounds MICE Markets, by Type, 2024 – 2033
- 8.16.1 Latin America Outbounds MICE Markets, by Type, 2024 – 2033 (USD Billion)
- 8.17 Latin America Outbounds MICE Markets, by Destination, 2024 – 2033
- 8.17.1 Latin America Outbounds MICE Markets, by Destination, 2024 – 2033 (USD Billion)
- 8.18 Latin America Outbounds MICE Markets, by Industry Vertical, 2024 – 2033
- 8.18.1 Latin America Outbounds MICE Markets, by Industry Vertical, 2024 – 2033 (USD Billion)
- 8.19. The Middle East and Africa
- 8.19.1 The Middle-East and Africa Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Outbounds MICE Markets, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Outbounds MICE Markets, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Outbounds MICE Markets, by Type, 2024 – 2033
- 8.20.1 The Middle-East and Africa Outbounds MICE Markets, by Type, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Outbounds MICE Markets, by Destination, 2024 – 2033
- 8.21.1 The Middle-East and Africa Outbounds MICE Markets, by Destination, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Outbounds MICE Markets, by Industry Vertical, 2024 – 2033
- 8.22.1 The Middle-East and Africa Outbounds MICE Markets, by Industry Vertical, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 BI Worldwide
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 BCD Meetings & Events
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 ITA Group Inc.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Maritz Global Events
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 CWT Meetings & Events
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 One10
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Pulse Group
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Shangri-La Hotels and Resorts
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 IBTM World
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Reed Exhibitions
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Others.
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.1 BI Worldwide
List Of Figures
Figures No 1 to 26
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
The key factors driving the Market are Global Business Expansion, Incentive Programs, Industry-Specific Events, Networking Opportunities And Tourism Promotion.
The “Meetings” category dominated the market in 2022.
The key players in the market are BI Worldwide, BCD Meetings & Events, ITA Group Inc., Maritz Global Events, CWT Meetings & Events, One10, Pulse Group, Shangri-La Hotels and Resorts, IBTM World, Reed Exhibitions, Others.
“North America” had the largest share in the Outbound MICE Market.
The Outbound MICE Market size was valued at USD 32.10 Billion in 2022.