The global MICE industry market is estimated to have reached USD 1,474 million in 2021 and is expected to reach a value of USD 4,770 million by 2027, growing at a CAGR of 21.60% over the forecast period from 2021-2027, according to a report by ResearchAndMarkets. The report further identified factors such as the increasing number of corporate meetings and events from the business sector and the growing acceptance of online travel agencies as drivers. However, the high costs associated with MICE events may hinder growth prospects. Technological development will further enhance investment opportunities in the sector.
