The Saudi Arabia Meetings, Incentives, Conferences and Exhibitions (MICE)
industry in Saudi Arabia has experienced tremendous growth in recent years driven by large government investments and projects. As the largest economy in the Middle East, Saudi recognizes the important role the MICE sector plays in tourism development and economic diversification.
Massive Infrastructure Projects Driving Demand
Vision 2030 and Mega Projects
Under the ambitious Vision 2030 reform plan led by Crown Prince Mohammed bin Salman, Saudi Arabia has embarked on several mega projects aimed at diversifying the economy away from oil dependence and developing new sectors. Billions have been poured into new city developments, tourism destinations, and entertainment complexes. Projects like the Red Sea Project, Qiddiya entertainment city, NEOM megacity and numerous others each incorporate significant MICE elements that will generate huge event and meeting requirements in the coming years. As these projects progress, they will propel growth in the associated hospitality, convention and exhibition industries to serve the rising domestic and international demand.
World-Class Facilities and New Venues
New Convention Centers and Hotels
In line with this growing pipeline of infrastructure and destinations, Saudi is also ramping up its supply of premium Saudi Arabia Meetings, Incentives, Conferences and Exhibitions (MICE) venues and facilities. Riyadh's new 7,000 capacity RIYADH international convention center is set to open in 2023, while Jeddah is developing the 5,000 capacity JEDDAH Center for Forums and Events within its Corniche downtown area. These state-of-the-art centers join other existing options like the Dhahran Expo Center and Kingdom Center in Riyadh. Hotel chains like Accor, Hilton, IHG and Marriott are rushing to open new properties across Saudi's major cities catering to both leisure and event guests. The expansion of high quality, integrated MICE infrastructure will position Saudi as a new regional hub.
Healthcare and Life Sciences Congresses
Beyond energy and technology conferences, Saudi aims to host major medical and life sciences conventions tapping into its multibillion investments in healthcare. The emerging private healthcare and research clusters around Riyadh, Jeddah and Dammam provide strategic opportunities. As Saudi fosters medical tourism and develops centers of excellence in fields like oncology, cardiology, genomics, and precision medicine- it will concurrently expand participation in associated world congresses at facilities like the new Riyadh Health Cluster Convention Center. The development of domestic competencies and hosting of specialty industry events go hand in hand.
Expanding International Participation and Events
Growing the Events Calendar
Critical to further developing Saudi's competitiveness as an MICE destination will be filling the pipeline with a diverse portfolio of high-profile events from around the world. While conferences on core industries like energy and mining have long been hosted, Saudi is now focused on attracting new exhibitions and conventions across various knowledge-intensive sectors that align with its economic priorities. For instance, partnering with bordering tourism markets in Egypt and Jordan could facilitate bringing regional travel exhibitions to Saudi. Mega shows in strategic sectors like agriculture technology, renewable energy and educational technology are also prospects. Overall, the events calendar must keep expanding to keep pace with infrastructure growth and amplify Saudi's global visibility.
Incentive Travel and Business Tourism Programs
Another push involves promoting Saudi as a new destination for incentive trips, association familiarization visits, high profile rewards programs and luxury corporate events. The diverse natural landscapes, cultural experiences and world-class infrastructure developing under Vision 2030 open unique propositions for international organizations seeking new motivational destinations outside traditional markets. Leveraging partnerships with major incentive travel companies and business event planners will be instrumental in conveying Saudi's emerging strengths and building robust pipeline demand. Once experienced, many delegations are sure to return for major conferences and exhibitions.
Regulatory Reforms and Organizational Support
To fully capitalize on the opportunities, Saudi is streamlining regulations, incentivizing private sector participation and establishing dedicated organizations. The newly established Saudi Commission for Tourism and National Heritage (SCTH) is a pivotal player governing permits, licenses and partnerships across tourism sectors including MICE. Other reforms have liberalized visa policies, introduced new exemptions from value-added tax on MICE activities and boosted promotion budgets. With holistic support from government agencies and investment institutions, the events industry and its many local suppliers are primed for accelerated growth.
The MICE industry holds immense potential value for Saudi Arabia's economy as highlighted by the extensive plans to cultivate the sector in parallel with widescale infrastructure development and privatization. As emerging projects progress and world-class venues and transportation hubs are delivered, Saudi will become a prime regional destination for corporate events, international conventions and major exhibitions. By continuously expanding its facilities, fostering domestic competencies and advancing market exposure, Saudi stands to reap major social and economic benefits in the coming decade through the exponential rise of business tourism and global professional exchange on its soil. With ongoing reforms streamlining operations, the future certainly looks bright for Saudi's robust and diversifying MICE landscape.
For more details on the report, Read- Saudi Arabia Meetings Incentives Conferences and Exhibitions
Latest Report Available at Analytical Research Cognizance Outbound Meetings, Incentives, Conferences and Exhibitions (MICE) Tourism Market provides pin-point analysis for changing competitive dynamics and a forward looking perspective on different factors driving or restraining industry growth.India Outbound Meetings, Incentives, Conferences and Exhibitions (MICE) tourism market is expected to reach US$ 9 Billion by 2025.
“India Outbound Meetings, Incentives, Conferences and Exhibitions (MICE) Tourism Market Report: Country Outlook, Analysis, Size, Share and Forecast 2018 – 2025” offers the most up–to–date industry data on the actual market situation and future outlook for India Outbound MICE tourism market.
The report uses data and analysis to discuss potential lucrative opportunities and future trends related to India outbound MICE travelers flow, revenue and main destination markets.
The report provides clear insight into current and future tourism developments of the India outbound MICE tourism market.
Furthermore, this report uses country focused analysis to explore India outbound MICE tourism market.A detailed country-wise analysis of the market is provided, covering a total of 15 countries.
The research study limelight growth drivers and investigates market inhibitors of India Outbound MICE tourism market.The countries included in this report are Thailand, Malaysia, Singapore, Dubai, Mauritius, Macau, South Korea, New Zealand, Indonesia, United States, Oman, Turkey, Taiwan,South Africa, Australia and Other CountriesKey Findings: India is poised to be the world’s fastest growing outbound MICE tourism market India outbound tourism market is expected to exceed US$ 45 Billion by 2025 India to generate more than 2 Million outbound MICE tourists by 2020 India is the largest source market for Dubai and Singapore MICE Industry Indian MICE travelers likely to become major spenders in the United States and DubaiThe Latest Industry Data Included in this Report: Market Size & Analysis: India Outbound Travelers Visitation & Spending (2012 - 2025) India Outbound Travelers Visitation & Forecast (2012 - 2025) India Outbound Travelers Spending & Forecast (2012 - 2025) Market Size & Analysis: India Outbound MICE Travelers Visitation & Spending (2012 - 2025) India Outbound MICE Travelers Visitation & Forecast (2012 - 2025) India Outbound MICE Travelers Spending & Forecast (2012 - 2025) India Outbound MICE Travelers Visitation & Spending Share & Y-o-Y Growth (%) (2012 – 2025) India MICE Travelers Visitation to Major 15 Countries & Forecast (2012 - 2025) India MICE Travelers Spending to Major 15 Countries & Forecast (2012 - 2025) Identification of Key Market Drivers and Inhibitors of the India Outbound MICE Tourism MarketPurchase copy of this Report @ http://www.arcognizance.com/purchase/94064 Some Points from Toc: Executive Summary Market Size & Analysis: India Outbound Travelers Visitation & Spending (2012 - 2025) 2.1 India Outbound Travelers Visitation & Forecast 2.2 India Outbound Travelers Spending & Forecast Market Size & Analysis: India Outbound MICE Travelers Visitation & Spending (2012 - 2025) 3.1 India Outbound MICE Travelers Visitation & Forecast 3.2 India Outbound MICE Travelers Spending & Forecast India Outbound MICE Travelers Visitation & Spending Share & Y-o-Y Growth (%) (2012 – 2025) 4.1 India Outbound MICE Travelers Visitation Share & Forecast 4.2 India Outbound MICE Travelers Spending Share & Forecast Key Market Drivers and Inhibitors of the India Outbound MICE Travelers Market 5.1 Market Drivers 5.2 Market InhibitorsRequest a sample of this report @ http://www.arcognizance.com/enquiry-sample/94064 India Outbound MICE Travelers Visitation & Spending – Top 15 Countries In-depth Analysis (2012 – 2025) 6.1 Thailand – India Outbound MICE Travelers Visitation & Spending 6.1.1 India Outbound MICE Travelers Visitation to Thailand & Forecast 6.1.2 India Outbound MICE Travelers Spending in Thailand & Forecast 6.2 Malaysia – India Outbound MICE Travelers Visitation & Spending 6.2.1 India Outbound MICE Travelers Visitation to Malaysia & Forecast 6.2.2 India Outbound MICE Travelers Spending in Malaysia & Forecast 6.3 Singapore – India Outbound MICE Travelers Visitation & Spending 6.3.1 India Outbound MICE Travelers Visitation to Singapore & Forecast 6.3.2 India Outbound MICE Travelers Spending in Singapore & Forecast 6.4 Dubai – India Outbound MICE Travelers Visitation & Spending 6.4.1 India Outbound MICE Travelers Visitation to Dubai & Forecast 6.4.2 India Outbound MICE Travelers Spending in Dubai & Forecast 6.5 Mauritius – India Outbound MICE Travelers Visitation & Spending 6.5.1 India Outbound MICE Travelers Visitation to Mauritius & Forecast 6.5.2 India Outbound MICE Travelers Spending in Mauritius & Forecast 6.6 Macau – India Outbound MICE Travelers Visitation & Spending 6.6.1 India Outbound MICE Travelers Visitation to Macau & Forecast 6.6.2 India Outbound MICE Travelers Spending in Macau & Forecast 6.7 South Korea – India Outbound MICE Travelers Visitation & Spending 6.7.1 India Outbound MICE Travelers Visitation to South Korea & Forecast 6.7.2 India Outbound MICE Travelers Spending in South Korea & Forecast 6.8 New Zealand – India Outbound MICE Travelers Visitation & Spending 6.8.1 India Outbound MICE Travelers Visitation to New Zealand & Forecast 6.8.2 India Outbound MICE Travelers Spending in New Zealand & Forecast 6.9 Indonesia – India Outbound MICE Travelers Visitation & Spending 6.9.1 India Outbound MICE Travelers Visitation to Indonesia & Forecast 6.9.2 India Outbound MICE Travelers Spending in Indonesia & Forecast 6.10 United States – India Outbound MICE Travelers Visitation & Spending 6.10.1 India Outbound MICE Travelers Visitation to United States & Forecast 6.10.2 India Outbound MICE Travelers Spending in United States & Forecast 6.11 Oman – India Outbound MICE Travelers Visitation & Spending 6.11.1 India Outbound MICE Travelers Visitation to Oman & Forecast 6.11.2 India Outbound MICE Travelers Spending in Oman & Forecast 6.12 Turkey – India Outbound MICE Travelers Visitation & Spending 6.12.1 India Outbound MICE Travelers Visitation to Turkey & Forecast 6.12.2 India Outbound MICE Travelers Spending in Turkey & Forecast 6.13 Taiwan – India Outbound MICE Travelers Visitation & Spending 6.13.1 India Outbound MICE Travelers Visitation to Taiwan & Forecast 6.13.2 India Outbound MICE Travelers Spending in Taiwan & Forecast 6.14 South Africa – India Outbound MICE Travelers Visitation & Spending 6.14.1 India Outbound MICE Travelers Visitation to South Africa & Forecast 6.14.2 India Outbound MICE Travelers Spending in South Africa & Forecast 6.15 Australia – India Outbound MICE Travelers Visitation & Spending 6.15.1 India Outbound MICE Travelers Visitation to Australia & Forecast 6.15.2 India Outbound MICE Travelers Spending in Australia & Forecast 6.16 Other Countries – India Outbound MICE Travelers Visitation & Spending 6.16.1 India Outbound MICE Travelers Visitation to Other Countries & Forecast 6.16.2 India Outbound MICE Travelers Spending in Other Countries & ForecastList of tables Table 5 1: India Outbound MICE Travelers Visitation Share (Percent), 2012 – 2017 Table 5 2: India Outbound MICE Travelers Visitation Share Forecast (Percent), 2018 – 2025 Table 5 3: India Outbound MICE Travelers Spending Share (Percent), 2012 – 2017 Table 5 4: India Outbound MICE Travelers Spending Share Forecast (Percent), 2018 – 2025 About US: www.arcognizance.com is an initiation in this new era of “analysis @ thought.” We are on a mission to replace the conventional research programs and give way to the latest methods and information for the organizations.
