ISRAEL MEETINGS, INCENTIVES, CONFERENCES AND EXHIBITIONS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Israel Meetings, Incentives, Conferences and Exhibitions Market Size and Trends

The Israel meetings, incentives, conferences and exhibitions market is estimated to be valued at USD 2.05 Bn in 2024 and is expected to reach USD 3.25 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031.

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The adoption of digital technologies by event organizers to engage participants virtually and offer hybrid event options is expected to boost the market potential. Rapid integration of artificial intelligence solutions for automating routine tasks and personalizing event experiences will further augment the demand. Additionally, focus of local governments and tourism boards to promote Israel as a MICE destination through various campaigns and initiatives will aid in the market expansion. However, threat of substitutes such as virtual/online organized events may hamper the growth of the physical MICE industry to some extent in the coming years.

 Growing tourism industry

The tourism industry in Israel has experienced strong growth over the past decade, attracting a record high of over 4 million visitors in 2019. This growth has been supported by various government initiatives and investments to promote the country as a unique MICE destination. Israel offers a perfect mix of historical, religious and cultural sites alongside modern attractions. Places like Jerusalem, Nazareth, and the Dead Sea hold great religious significance and cultural importance for the three major monotheistic religions. At the same time, cities like Tel Aviv offer a vibrant cosmopolitan experience with a thriving nightlife and culinary scene. The diversity of experiences has made Israel an emerging hotspot for religious, heritage, and urban tourism. As visitor arrivals continue to rise, the demand for meetings, conferences and exhibitions showcasing Israel's offerings to domestic and international audiences has also increased significantly. Many industry events focus on areas such as technology, innovation, archaeology, and geopolitics - capitalizing on Israel's strengths. This rising influx of tourists provides a strong underlying driver of the growth for the MICE sector.

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The Israel government has undertaken several initiatives in recent years to develop world-class infrastructure for hosting major corporate and association events. This includes the expansion of convention centers in key cities, upgrade of airports and improvement of transportation links. For example, the new India Exhibition & Convention Center located in the commercial hub of Herzliya is one of the largest purpose-built MICE facilities in the country. Spread over 35 acres, it features 75,000 square meters of flexible indoor and outdoor space well-equipped to host exhibitions, product launches, and conferences of all sizes. Similarly, Ben Gurion International Airport near Tel Aviv recently completed an extensive expansion project adding new terminals, hotel, and office towers. It now has the capacity to welcome thousands of delegates arriving for international congresses and tradeshows. Furthermore, the government is focusing on developing niche event venues that showcase local heritage sites and culture. For instance, unique outdoor venues surrounded by vineyards provide memorable backdrops for incentive travel activities and corporate off-sites. This strategic push to enhance infrastructure greatly strengthens Israel's ability to attract and host major MICE events from around the world on a consistent basis. It ensures sustainable growth of the sector by addressing capacity constraints of the past.