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.

Market Concentration and Competitive Landscape

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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.

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Challenge: Seasonality issues

Seasonality is among the key factors restraining the growth of the UAE MICE market. The summer months from May to September witness extreme heat and humidity which makes it difficult to organize outdoor activities and events. The temperature often crosses 45 degrees Celsius with humidity being over 80% during peak summer, making it unbearable for tourists and delegates to engage in prolonged outdoor sessions or activities. This leads to a significantly low season for the local MICE industry during summer months as hotels, venues, and event organizers face event cancellations.  Moreover, Ramadan which is a holy month for Muslims also impacts the MICE business negatively. During Ramadan, Muslims all over the world fast from dawn to dusk and devote their time for prayers and spiritual activities. Many expat residents in UAE comprising of Muslims observe fasting and prayers during Ramadan. This further discourages hosting of conferences, exhibitions, and incentive trips as delegates and participants might find it difficult to attend long day time sessions while fasting. Social activities and functions also take a backseat during Ramadan. This leads to another low season for the UAE MICE industry during the Ramadan month which falls around April or May.

 Opportunity: Developing new niche segments

Developing niche segments could provide significant opportunities for the UAE MICE market going forward. As the tourism and events industry rebounds post pandemic, focusing on more specialized offerings may help boost growth. Some emerging niche areas that show promise include medical tourism meetings and religious conferences.  The UAE has been investing heavily in its healthcare infrastructure. It already hosts several major medical conferences but there remains room to expand. Partnering with prominent research hospitals and healthcare providers to organize specialized symposiums and workshops could attract more doctors, nurses, and medical professionals to the country. 

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In terms of event type, meetings is expected to contribute 35.8% share of the market in 2024, owing to the growing corporate culture in the UAE. Meetings play a crucial role in bringing employees together to discuss business strategies, improvement plans, project updates, and foster better collaboration. The corporate sector in the UAE has seen tremendous growth over the past decade with expanding operations of multinational companies and startups. Large enterprises are increasingly holding regular board meetings, team meetings, executive conferences, and training sessions to facilitate effective communication and ensure business objectives and key priorities are in sync across departments and regions. This growing emphasis on internal coordination and partnership is driving more organizations to invest in professional meeting services and solutions. Growing digitalization is also boosting the meetings segment as virtual and hybrid meeting options allow scaling participation while reducing costs. The meetings segment continues to gain traction as corporate culture develops and importance of strategic internal collaboration increases.

Insights, by Size: Rapid urbanization is augmenting the medium sized segment

In terms of size, medium (100 to 500 attendees) is expected to contribute 39.7% share of the market in 2024, owing to rapid urbanization witnessed across major cities in the UAE. As more people migrate to the developing urban centers for employment opportunities, there is a surge in housing projects, economic zones, malls, hotels, and recreational facilities being constructed. The robust infrastructure growth requires participation from numerous small and medium scale contractors, consultants, investors, and regulatory bodies that hold frequent coordination meetings ranging between 100 to 500 attendees. Townhall forums, tenders, progress reviews, and knowledge-sharing conferences organized by real estate developers, manufacturers, and government bodies fall under this segment. Ease of organizing logistics and lower costs for venues also make medium sized events an appealing option for stakeholders driving the urban expansion. Accelerating construction activities and infrastructural ramp-up will continue supporting the growth of this segment.

Insights, by Revenue Source: Exhibitions leading Revenue generation in Exhibit space rental segment

In terms of revenue source, exhibit space rental is expected to contribute 40.6% share of the market in 2024, owing to large exhibitions frequently held across the country. Exhibitions serve as an important platform for companies to showcase their latest products, network with prospective clients, and find new business partners. Top industry expos like Dubai Airshow, Gulf Food, and Gitex attract participation from thousands of global brands that rent exhibit booths and stands. While entry tickets, sponsorships and food sales also contribute to revenues, space rental remains the largest income stream for exhibition organizers. Regular events coupled with growing maturation of domestic industries are encouraging more localized companies to invest higher in promotions through exhibitions. Furthermore, the strategic location and ease of accessibility further enhances the UAE's credibility as a favored MICE destination. These factors drive consistent demand for prime exhibit spaces and boost revenues in this segment.

Market Report Scope

Key Developments

• In May 2024, Cvent Announces Top Meeting Destinations and Top Meeting Hotels in the Middle East & Africa for 2024
• In January 2024, DWTC announces over 70 MICE events slated for H1 2024
• In November 2022, Emaar Hospitality Group launched a new beachside venue in Dubai for hosting meetings and events. The flexible space aims to attract small and mid-sized events.
• In January 2022, Dubai World Trade Centre opened a new multi-purpose arena with a capacity of 20,000 people. It aims to attract large entertainment events and conferences.

*Definition: The UAE MICE market refers to the market for organizing and hosting meetings, incentives, conferences, and exhibitions in the United Arab Emirates. It covers companies that provide event planning and management services for corporate meetings, team-building activities, product launches, trade shows, and other business events.

Market Segmentation

• Event Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Meetings
  • Conferences
  • Exhibitions
  • Others
•  Size Insights (Revenue, USD Bn, 2019 - 2031)
• • Small (less than 100 attendees)
  • Medium (100 to 500 attendees)
  • Large (over 500 attendees)
•  Revenue Source Insights (Revenue, USD Bn, 2019 - 2031)
• • Participation fees
  • Sponsorships
  • Exhibit space rental
  • Food & beverage
  • Accommodation
  • Advertising
  • Others
•  Industry Insights (Revenue, USD Bn, 2019 - 2031)
• • Technology
  • Healthcare
  • Automotive
  • Manufacturing
  • Financial Services
  • Hospitality
  • Others
• Key Players Insights
  • Dubai World Trade Centre
  • Habtoor Hospitality
  • Action Hotels
  • TIME Hotels
  • Ascott Limited
  • AccorHotels
  • Marriott International
  • Hilton Worldwide
  • InterContinental Hotels Group
  • Hyatt Hotels Corporation
  • Radisson Hotel Group
  • Wyndham Hotels & Resorts
  • JA Resorts & Hotels
  • Millennium & Copthorne Hotels
  • Abu Dhabi National Exhibitions Company
  • Sharjah Commerce and Tourism Development Authority
  • Emirates Group
  • Emaar Hospitality Group
  • Rotana Hotel Management Corporation PJSC
  • Jumeirah Group