Market Size of India MICE Tourism Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India MICE Tourism Market Analysis
Covid-19 has a severe impact on MICE tourism in India. As a result of the pandemic-related lockdown, the tourist inflow in India plummeted for the year 2020 which impacted the various tourism-related industries including MICE tourism. With the Covid, vaccine roll-out the number of physical exhibitions and conventions is raising in 2021 and has a positive outlook for the future.
MICE tourism is gaining momentum in India over the years. India Convention Promotion Bureau (ICPB) was formed in 1988 and works for the development of the India MICE industry. it also gathered additional momentum for the industry. With the MICE sector growing and the focus shifting from Europe to the Asia Pacific area, India is on the verge of a big breakthrough, a competitive advantage to become a regional leader in MICE tourism in the Asia-Pacific region. With the infrastructural amenity becoming par with that of developed countries and in some metro cities infrastructure are more than sufficient to host world-class meetings, conventions, and exhibitions, as a result, India is increasingly being the preferred destination for the MICE events. As of 2021, there are more than 1300 star category hotel capable of being excellent venue for mice along with the 70+ convention centers each having the possibility of hosting the world-class events.
India MICE Tourism Industry Segmentation
MICE is an acronym for Meetings, Incentives, Conferences, and Exhibitions. It is the subset of the business travel or tourism industry in which large groups, usually planned well in advance, are brought together for certain events. This report aims to provide a detailed analysis of the MICE Tourism Market in India. It focuses on the market dynamics, emerging trends in the segments, the future of markets, and insights on various drivers and restraints. Also, it analyses the key players and the competitive landscape in the MICE Tourism market in India. The India MICE tourism market can be segmented by Events Meetings, Inventive, Conventions, and Exhibitions).
| By Event | |
| Meeting | |
| Incentives | |
| Conference | |
| Exhibitions |
India MICE Tourism Market Size Summary
The MICE tourism sector in India has been experiencing a resurgence following the challenges posed by the Covid-19 pandemic, which significantly impacted tourist inflow and related industries. The India Convention Promotion Bureau (ICPB), established in 1988, has been instrumental in fostering the growth of the MICE industry in the country. As the focus of MICE tourism shifts from Europe to the Asia-Pacific region, India is poised to leverage its infrastructural advancements to become a regional leader. The country's metro cities are equipped with world-class facilities, including over a thousand star-category hotels and numerous convention centers, making India an increasingly preferred destination for international MICE events. The International Congress and Convention Association (ICCA) rankings reflect this growth, with India improving its position due to the rising number of international meetings and conventions.
The MICE tourism market in India is characterized by a fragmented landscape with numerous small and medium-sized enterprises contributing to its development. Major cities like Delhi, Mumbai, Bangalore, and Hyderabad are key drivers of growth, while emerging states such as Rajasthan and Uttar Pradesh are also being recognized for their potential in MICE tourism. The government's initiatives, including the designation of Bangalore as a MICE hub and the development of other cities like Agra and Udaipur as MICE destinations, underscore the sector's promising outlook. The market is expected to witness rapid growth due to low industry penetration, with significant contributions from major players and ongoing government support to enhance infrastructure and connectivity.
India MICE Tourism Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Driver
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1.3 Market Restraints
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1.4 Porters 5 Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Insights into Technological Advancements in the Industry
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1.6 Impact of Covid 19 on market
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2. MARKET SEGMENTATION
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2.1 By Event
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2.1.1 Meeting
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2.1.2 Incentives
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2.1.3 Conference
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2.1.4 Exhibitions
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India MICE Tourism Market Size FAQs
What is the current India MICE Tourism Market size?
The India MICE Tourism Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in India MICE Tourism Market?
Integrated Conference and Event Management, ALC MICE, Gautam and Gautam Group, Alpcord Network and Plan IT! India are the major companies operating in the India MICE Tourism Market.
