The Asia-Pacific M!CE industry generated revenue of US $229 billion in 2017, and is expected to grow at a CAGR of 8.6 per cent to reach US $441.1 billion by 2025, according to a new report published by Allied Market Research, titled, Asia-Pacific MICE Industry by Event Type and Country: Opportunity Analysis and Industry Forecast, 2018 – 2025. “By country, China is expected to remain dominant and grow at a steady pace in the Asia-Pacific M!CE industry. Shanghai and Beijing hosted the majority of M!CE trips in China over the last 12 months, followed by Guangzhou, Hong Kong and Macau. The key industry segments boosting the growth for M!CE industry in China are manufacturing, utility and agriculture, and forestry and fishing. Moreover, increase in aging population is anticipated to boost the growth of the healthcare industry and social work segment. Increase in business travel activities from these industries is further anticipated to support the growth of the market,” the report stated.
