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

UAE Meetings, Incentives, Conferences and Exhibitions (MICE) Market Size and Trends

The UAE Meetings, Incentives, Conferences and Exhibitions (MICE) market is estimated to be valued at USD 5.65 Bn in 2024 and is expected to reach USD 10.01 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.

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UAE Meetings, Incentives, Conferences and Exhibitions (MICE) Market has been witnessing positive trends over the past few years. Factors such as the growing business tourism in the country on account of rapidly expanding corporate base, favorable government regulations and initiatives to boost the meetings and events industry, and large investments made in exhibition infrastructure are expected to drive the growth of the UAE Meetings, Incentives, Conferences and Exhibitions (MICE) Market. The tourism sector is a major contributor to the economy and the government has been continuously working towards positioning Dubai and Abu Dhabi as global MICE hubs. This, in turn, is projected to support the growth of the UAE MICE market during the forecast period.

The rapid infrastructure development and world-class facilities

Over the past decade, the UAE government has invested heavily in developing state-of-the-art infrastructure to support the MICE industry. Glitzy convention centers, five-star hotels, modern airports, and sea ports have transformed emirates like Dubai and Abu Dhabi into attractive global MICE hubs. World-class facilities like Dubai International Convention and Exhibition Centre, Abu Dhabi National Exhibition Centre, and several other small to large venues provide international standard experience to event organizers and participants. Strategic location of these facilities also provides easy accessibility from key global markets. The futuristic infrastructure and facilities have improved the overall competitiveness of the country and become a key driver for increasing MICE tourism.

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As one of the richest nations globally with a high per capita income, the UAE has been increasingly flexing its economic muscles on the global stage. The oil rich economy has invested aggressively in diversifying into other sectors like tourism, real estate, financial services, etc. Many large global corporations have established regional headquarters and offices in the country. This has enhanced the economic influence of UAE in regions like Africa, the Middle East, and Asia Pacific. As a result, the number of international conferences, board meetings, trade expos, and delegations related to Gulf corporation are on the rise. The sustained economic prosperity and rising international profile of the UAE has made the country an ideal MICE destination for both regional and global economic engagements. This growing economic importance has significantly boosted MICE sector tourism.