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Saudi Arabia Meetings, Incentives, Conferences and Exhibitions (MICE) Market is Anticipated to Witness High Growth Owing to Increasing Business Events

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Ishika cmi

The Saudi Arabia MICE market refers to meetings, incentives, conferences, and exhibitions which cater to business events in the country. MICE activities help businesses to hold strategy and planning meetings, incentive travel programs, product launches, training seminars, and exhibitions. The events industry helps hotels, airlines, transportation, food & beverage sectors in Saudi Arabia. Growing awareness about MICE and its impact on economy is encouraging businesses to organize more events. The Saudi Vision 2030 aims to diversify economy away from oil and develop tourism and entertainment industries which will further boost the MICE market.

The Global Saudi Arabia Meetings, Incentives, Conferences and Exhibitions (MICE) Market is estimated to be valued at US$ 2.69 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in Saudi Arabia Meetings, Incentives, Conferences and Exhibitions (MICE) Market Size are VRB Energy, H2 Inc., ESS Tech Inc., Stryten Energy, Vanadis Power GmbH, CellCube Energy Storage Systems Inc., Primus Power Corporation, Dalian Rongke Power Co. Ltd., RedFlow Ltd., and Invinity Energy Systems PLC. These players are focusing on partnerships, new product developments and expanding capabilities to gain more MICE projects and contracts in Saudi Arabia.

The key opportunities in the Saudi Arabia MICE market include rising infrastructure development for conference halls, exhibition centers and hotels catering to large scale events. The government is investing heavily in upgrading existing facilities as well as developing new world-class MICE infrastructure like NEOM city which will be a major boost.

Global expansion is another trend being witnessed as international event organizers and convention centers are partnering with Saudi counterparts to bid for and host combined regional and global events. This is helping Saudi Arabia to position itself on the global MICE map and attract more international business delegations.

Market Drivers

Growing business and foreign investments - Saudi Vision 2030 aims to diversify economy and attract foreign investments in various sectors. This is driving need for more business meetups, product launches and conferences creating opportunities in the MICE market.

Infrastructure development - The government is investing billions of dollars in upgrading travel and hospitality infrastructure to international standards. New airports, hotels, convention centers catering to large scale MICE events are driving market growth.

Market Restrain

Lack of skilled local workforce - Due to traditionally conservative culture, events industry in Saudi Arabia faces lack of trained and certified local professionals in areas like event management, conferences operations etc. Reliance on foreign skilled staff can be a challenge.

Variable economic climate - Being an oil dependent economy, any fluctuation in crude prices can impact investments in other sectors and businesses sentiments. This can adversely impact MICE activities in Saudi Arabia.

Segment Analysis

The Saudi Arabia MICE market is dominated by corporate events sub segment. Corporate events account for over 50% of the total MICE events held in the country. This is because Saudi Arabia is a corporate hub for many multinational companies operating in the Middle East region. It is home to the regional headquarters of several Fortune 500 companies. These companies frequently organize conferences, exhibitions, seminars and other corporate events to achieve their business goals.

Global Analysis

The MEA region accounts for the fastest growth in the Saudi Arabia MICE market. Within the MEA region, Saudi Arabia holds the dominant market share and is expected to continue its dominance during the forecast period. This is due to the heavy investments made by the Saudi government in developing world-class infrastructure to promote the growth of the tourism and MICE industries. The country is investing billions of dollars to expand its airport capacity, build new convention centers and upgrade hotels. Such initiatives have boosted the Saudi Arabia's appeal as a MICE destination among international event organizers. Countries like UAE and Egypt are other major MICE hubs in the region but Saudi Arabia is witnessing highest growth in tourism and business visitors.

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varunkp 2023-03-16
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Strong economic growth and the growing food requirements are expected to drive the demand for Saudi Arabia Poultry market in the forecast period. However, the growing cost of poultry feeds and strict quality checks and norms may hamper the Saudi Arabia Poultry market growth in the forecast period. Browse XX Figures spread through XX Pages and an in-depth TOC on "Saudi Arabia Poultry Market”. htmlSaudi Arabia Poultry market is segmented into type, product type, nature, distribution channel, regional distribution, and company. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in of Saudi Arabia Poultry market.
Saudi Arabia Tire Market By Vehicle Type (By Region, Forecast & Opportunities, 2016- 2026
amangupta 2024-04-06
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This report focuses on tire volume and value at the country and regional level. This report represents overall tire market size by analyzing historical data from 2016-2020 and future prospect from 2021-2026. This study provides information about the sales and revenue during the historic and forecasted period of 2016 to 2026. The major players in the market include Goodyear Tire & Rubber Company, Bridgestone Corporation, Compagnie Générale des Établissements Michelin SCA, Pirelli, Continental AG, Toyo Tire & Rubber Co. , Cooper Tire & Rubber Co, Dunlop among others.
Saudi Arabia Bus Market with Key Players, Applications, Trends and Forecasts to 2032
gogo 2023-06-12
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According to the research report published by Polaris Market Research, the Saudi Arabia Bus Market Size Is Expected To Reach USD 409. The report has examined the current Saudi Arabia Bus Market trends and diverse prospects. Additionally, the SWOT analysis method is used in the study to evaluate the growth of the most Saudi Arabia Bus Market key players. In addition, suggestions and guidance for new entrants in the market have been given that carefully directs existing businesses for accelerated Saudi Arabia Bus Market expansion. com/industry-analysis/saudi-arabia-bus-marketAbout Us:Polaris Market Research is a worldwide market research and consulting organization.
Israel Meetings, Incentives, Conferences And Exhibitions (MICE) Market Is Estimated To Witness High Growth Owing To Opportunity To Leverage Unique Venues
Pooja Khodke 2024-01-23
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The Meetings, Incentives, Conferences and Exhibitions (MICE) market in Israel refers to business events and conferences held in unique venues across the country. The global Israel Mice Market is estimated to be valued at US$ 2. Key TakeawaysThe Global Israel Meetings, Incentives, Conferences And Exhibitions Market Demand is expected to witness high growth driven by rising business and leisure travel. The global Israel Meetings, Incentives, Conferences and Exhibitions Market is estimated to be valued at US$ 2. Key players operating in the Israel MICE market are IME Events, Lucy Event, CLAL Desal, Israel Convention Bureau.
India Meetings, Incentives, Conferences and Exhibitions Market is driven by increasing adoption of MICE tourism
Sneha 2024-03-12
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The India Meetings, Incentives, Conferences and Exhibitions (MICE) market comprises meeting services, convention & exhibition services, and incentive travel. The Global India MICE Market is estimated to be valued at US$ 3. Key TakeawaysKey players operating in the India MICE Market are Terumo Corporation, Medtronic PLC, Abbott Laboratories, Abiomed Inc. The India MICE Market Growth is witnessing growing demand due to increasing number of domestic and international corporate meetings, conferences and events in the country. Geopolitical impact on India Meetings, Incentives, Conferences and Exhibitions (MICE) Market growth The current geopolitical instability and uncertainties across various regions are impacting the growth of MICE market in India.
Corporate Meetings And Conferences - Tarangi Resort
Bhuwan joshi 2020-09-03
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In Jim Corbett resorts, Tarangi resort has of over 4500 sq.ft of space, the best resort in Jim Corbett, event place in Jim Corbett, resorts in Jim Corbett.A right space has a significant effect when it comes to impressing your clients during a conference or a meeting.

If getting an exotic location for a meeting means success for your business, then Tarangi Resort in Jim Corbett National Park is the best place for you to make your meetings & events look even more professional in a natural setting and luxurious accommodation where your guests & clients can have a great experience throughout their stay.

amazing views and adaptable conference & meeting rooms are major factors which your business needs while meeting a client.

tarangi resort’s exceptional services where you’ll get unparalleled expertise and tailored solutions for a gainful experience will change a basic business meeting into a world-class event.https://tarangiresort.com/blog/meetings-and-conferences-at-tarangi/

Saudi Arabia Leisure and Entertainment Market: Ken Research
Ken Research 2022-06-27
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Buy NowSaudi Arabia movie theater market had begun taking shape after a 35-year hiatus. The Saudi government, in a bid to augment the entertainment opportunities across Saudi Arabia, enabled screening of movies during 2018. AMC Cinemas was the first international movie theater chain to function in Saudi Arabia with the KAFD screen that accommodates 490 patrons. Presently, 4 cinema chains are functional in Saudi Arabia, namely Dubai based VOX, and USA based AMC, Saudi based MUVI Cinemas and Middle Eastern-based Empire Cinemas. For more information on the research report, refer to below link:-Saudi Arabia Leisure and Entertainment Market Outlook to 2025Related Reports:-International Remittance Industry in Saudi Arabia: Outlook to 2025Saudi Arabia Dry Logistics and Warehousing Market Outlook to 2025 – Warehousing Automation and Investment within Transport Infrastructure to Drive Market Revenue)Follow UsLinkedIn | Facebook | Twitter | YouTubeContact Us:-Ken ResearchAnkur Gupta, Head Marketing & Communicationssupport@kenresearch.
Saudi Arabia Auto Parts and Accessories Market Trends 2024- Industry Share, Revenue, Growth Drivers, Business Challenges and Future Outlook till 2033: SPER Market Research
Versha 2024-03-12
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The auto parts and accessories market is the sector that manufactures, distributes, and sells automotive components and accessories. The Saudi auto parts and accessories sector also faces challenges such as counterfeiting, ensuring the availability of genuine components, and dealing with the increasing complexity of modern vehicle systems. sample=1Impact of COVID-19 on Saudi Arabia Auto Parts and Accessories MarketThe Saudi car parts and accessories sector was disrupted during the COVID-19 epidemic because to decreased economic activity, lockdowns, and movement restrictions. By Product: Based on the Product, Saudi Arabia Auto Parts and Accessories Market is segmented as; Bodies & Chassis, Driveline & Powertrain, Electronics, Interiors & Exteriors, Wheel & Tires, Others. By Application: Based on the Application, Saudi Arabia Auto Parts and Accessories Market is segmented as; Aftermarket, OEMs.
Saudi Arabia Fly Ash and GGBS Market Growth Rate & Industry Challenges
pravin sheth 2022-11-03
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dbmr=saudi-arabia-fly-ash-and-ggbs-market-in-green-concrete Saudi Arabia Fly Ash and GGBS Market in Green Concrete ScopeThe Saudi Arabia fly ash and GGBS market in green concrete is segmented into two notable segments based on product and application. Competitive Landscape and Saudi Arabia Fly Ash and GGBS Market in Green Concrete Share AnalysisThe Saudi Arabia fly ash and GGBS market in the green concrete competitive landscape provides details by the competitor. com/reports/saudi-arabia-fly-ash-and-ggbs-market-in-green-concrete MAJOR TOC OF THE REPORT: -Chapter One: IntroductionChapter Two: Market Analysis and InsightsChapter Three: Market DynamicsChapter Four: Market ScopeChapter Five: Market Regional InsightsChapter Six: Competitive Landscape System Market  Get TOC Detail: -  https://www. dbmr=saudi-arabia-fly-ash-and-ggbs-market-in-green-concrete Browse Related Reports: -      Global Failure Analysis MarketGlobal Synthetic Vision System MarketGlobal Live IP Broadcast Equipment MarketGlobal Electro Chromic Technology for Smart Windows MarketAbout Us:   Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the marketContact:    Data Bridge Market ResearchTel: +1-888-387-2818Email: Sopan.
Saudi Arabia Bus Market is Projected to Show Profitable Expansions Over the forecast period 2023-2032
Soffi Clark 2023-02-15
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“According to the research report published by Polaris Market Research, the Saudi Arabia Bus Market Size Is Expected To Reach USD 409. ”Polaris Market Research has added Saudi Arabia Bus Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2030. The report focuses on Saudi Arabia Bus Market size, share, growth status, and future trends, along with recent business development. In addition, market prospects are given based on global sales and revenue forecast and regional Saudi Arabia Bus Market forecast. About Us:Polaris Market Research is a worldwide market research and consulting organization.