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Asia-Pacific MICE industry by Event Type (Meetings, Incentives, Conventions, and Exhibitions), and Country (China, India, Singapore, Thailand, Indonesia, Australia, New Zealand, Japan, Malaysia, South Korea, Vietnam, Hong Kong, and rest of Asia-Pacific): Opportunity Analysis and Industry Forecast, 2018 - 2025

CO_195146
Pages: 87
Jan 2019 | 3977 Views
 
Author(s) : Kiran Sable
Tables: 20
Charts: 14
 

MICE Industry Market Overview:

The Asia-Pacific MICE industry generated revenue of $229.0 billion in 2017, and is expected to grow at a CAGR of 8.6% to reach $441.1 billion by 2025. The term MICE in the context of travel is an acronym for meetings, incentives, conferences, and exhibitions. It represents tourism that includes business events and activities. The attendees of MICE are basically business travelers engaged in business activities such as client meetings, brand promotions, employee training activities, & others. These business travelers are connected to different sectors of the tourism and hospitality industry through their MICE activities. Substantial development of the travel & tourism sector has fueled the demand for MICE industry.

Asia-Pacific MICE industry Market

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Asia-Pacific MICE industry is segmented based on event type and country. Based on event type, the market is classified into meetings, incentives, conventions, and exhibitions. By country, it is analyzed across China, India, Singapore, Thailand, Indonesia, Australia, New Zealand, Japan, Malaysia, South Korea, Vietnam, Hong Kong, and rest of Asia-Pacific.

Asia-Pacific MICE industry Market by Event Type

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In 2018, the meetings segment dominated the Asia-Pacific MICE industry accounting for $159.4 billion, and is expected to grow at a notable CAGR of 8.5% during the forecast period. This is attributed to positive economic trends, improvement in the infrastructure, and enhanced tourism combined with global expansion of Asian companies. Recent trends of organizing hybrid meetings and use of social media and meeting apps are also expected to boost market growth in the near future.

Asia-Pacific MICE industry Market by Country

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By country, China is expected to remain dominant and grow at a steady pace in the Asia-Pacific MICE industry. Shanghai and Beijing hosted the majority of MICE trips in China over the last 12 months, followed by Guangzhou, Hong Kong, and Macau. The key industry segments boosting the growth for MICE industry in China are manufacturing, utility & agriculture, and forestry & 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 leading players in the FMCG market focus on providing customized solution to consumers as their key strategies to gain a significant share in the market. The key players profiled in the report include Questex, LLC, CWT Meetings & Events, IBTM Events, BCD Meetings and Events, Capital Travel and Events, CiEvents, Conference Care Ltd., The Freeman Company, ATPI Ltd., and Interpublic Group of Companies, Inc.

Key Benefits for MICE Industry Market:

  • This report provides a quantitative analysis of the current trends, estimations, and dynamics of the Asia-Pacific MICE industry from 2018 to 2025 to identify the prevailing market opportunities.

  • The key countries in all the major regions are mapped based on their market share.

  • Porters five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network.

  • In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.

  • Major countries in Asia-Pacific MICE industry are mapped according to their revenue contribution to the industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.

  • The report includes the analysis of the key players, market segments, application areas, and growth strategies.

MICE Industry Key Market Segments:

By Event Type

  • Meetings

  • Incentives

  • Conventions

  • Exhibitions

Country

  • China

  • India

  • Singapore

  • Thailand

  • Indonesia

  • Australia

  • New Zealand

  • Japan

  • Malaysia

  • South Korea

  • Vietnam

  • Hong Kong

  • Rest of Asia-Pacific

 

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market benefits for stakeholders
1.3. Key market segments
1.4. Research methodology

1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools And Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. Snapshot
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top investment pocket
3.2.2. Top winning strategies

3.3. Porter's five forces analysis

3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyer
3.3.3. Thereat of new entrants
3.3.4. Threat of substitute
3.3.5. Intensity of competitive rivalry

3.4. Top player positioning
3.5. Market dynamics

3.5.1. Drivers

3.5.1.1. Rapid growth in travel & tourism industry
3.5.1.2. Increase in globalization of businesses
3.5.1.3. Rapid Increase in SMEs
3.5.1.4. Rise in Disposable Income

3.5.2. Restraints

3.5.2.1. High Operational Cost Associated with MICE Events
3.5.2.2. Growth in Geopolitical and Social Uncertainties

3.5.3. Opportunities

3.5.3.1. Technological Advancements
3.5.3.2. Infrastructural Investment

CHAPTER 4: ASIA-PACIFIC MICE INDUSTRY, BY EVENT TYPE

4.1. Overview

4.1.1. Market size and forecast

4.2. Meetings

4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.2.3. Market analysis by country

4.3. Incentives

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.3.3. Market analysis by country

4.4. Conventions

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast
4.4.3. Market analysis by country

4.5. Exhibitions

4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast
4.5.3. Market analysis by country

CHAPTER 5: ASIA-PACIFIC MICE INDUSTRY, BY COUNTRY

5.1. Overview

5.1.1. Market size and forecast

5.2. China

5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast

5.3. India

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast

5.4. Singapore

5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast

5.5. Thailand

5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast

5.6. Indonesia

5.6.1. Key market trends, growth factors, and opportunities
5.6.2. Market size and forecast

5.7. Australia

5.7.1. Key market trends, growth factors, and opportunities
5.7.2. Market size and forecast

5.8. New Zealand

5.8.1. Key market trends, growth factors, and opportunities
5.8.2. Market size and forecast

5.9. Japan

5.9.1. Key market trends, growth factors, and opportunities
5.9.2. Market size and forecast

5.10. Malaysia

5.10.1. Key market trends, growth factors, and opportunities
5.10.2. Market size and forecast

5.11. South Korea

5.11.1. Key market trends, growth factors, and opportunities
5.11.2. Market size and forecast

5.12. Vietnam

5.12.1. Key market trends, growth factors, and opportunities
5.12.2. Market size and forecast

5.13. Hong Kong

5.13.1. Key market trends, growth factors, and opportunities
5.13.2. Market size and forecast

5.14. Taiwan

5.14.1. Key market trends, growth factors, and opportunities
5.14.2. Market size and forecast

5.15. Rest of Asia-Pacific

5.15.1. Key market trends, growth factors, and opportunities
5.15.2. Market size and forecast

CHAPTER 6:COMPANY PROFILES

6.1. QUESTEX LLC

6.1.1.Company overview
6.1.2.Business performance
6.1.3.Key strategic moves and developments

6.2. CWT MEETINGS & EVENTS

6.2.1.Company overview
6.2.2.Business performance
6.2.3.Key strategic moves and developments

7.3. IBTM EVENTS

7.3.1.Company overview
7.3.2.Business performance
7.3.3.Key strategic moves and developments

6.4. BCD MEETINGS AND EVENTS

6.4.1.Company overview
6.4.2.Business performance
6.4.3.Key strategic moves and developments

6.5. CIEVENTS

6.5.1.Company overview
6.5.2.Business performance
6.5.3.Key strategic moves and developments

6.6. ATPI LTD.

6.6.1.Company overview
6.6.2.Business performance
6.6.3.Key strategic moves and developments

6.7. CONFERENCE CARE LTD.

6.7.1.Company overview
6.7.2.Business performance
6.7.3.Key strategic moves and developments

6.8. THE FREEMAN COMPANY

6.8.1.Company overview
6.8.2.Business performance
6.8.3.Key strategic moves and developments

6.9. INTERPUBLIC GROUP OF COMPANIES, INC.

6.9.1.Company overview
6.9.2.Business performance
6.9.3.Key strategic moves and developments

6.10. CONFERENCE CARE LTD.

6.10.1.Company overview
6.10.2.Business performance
6.10.3.Key strategic moves and developments

LIST OF TABLES

TABLE 01. ASIA-PACIFIC MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 02. ASIA-PACIFIC MEETINGS INDUSTRY BY COUNTRY, 2017-2025 ($BILLION)
TABLE 03. ASIA-PACIFIC INCENTIVE TRAVEL INDUSTRY BY COUNTRY, 2017-2025 ($BILLION)
TABLE 04. ASIA-PACIFIC CONVENTIONS INDUSTRY BY COUNTRY, 2017-2025 ($BILLION)
TABLE 05. ASIA-PACIFIC EXHIBITIONS INDUSTRY BY COUNTRY, 2017-2025 ($BILLION)
TABLE 06. ASIA-PACIFIC MICE INDUSTRY BY COUNTRY, 2017-2025 ($BILLION)
TABLE 07. CHINA MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 08. INDIA MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 09. SINGAPORE MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 10. THAILAND MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 11. INDONESIA MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 12. AUSTRALIA MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 13. NEW ZEALAND MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 14. JAPAN MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 15. MALAYSIA MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 16. INDIA MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 17. VIETNAM MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 18. HONG KONG MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 19. TAIWAN MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)
TABLE 20. REST OF ASIA-PACIFIC MICE INDUSTRY, BY EVENT TYPE, 2017-2025 ($BILLION)

LIST OF FIGURES

FIGURE 01. KEY MARKET SEGMENTS
FIGURE 02. ASIA-PACIFIC MICE INDUSTRY SNAPSHOT
FIGURE 03. TOP INVESTMENT POCKETS, BY EVENT TYPE
FIGURE 04. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05. HIGH BARGAINING POWER OF BUYERS
FIGURE 06. MODERATE THREAT OF NEW ENTRANTS
FIGURE 07. MODERATE THREAT OF SUBSTITUTION
FIGURE 08. HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 09. MARKET PLAYER POSITIONING, 2017
FIGURE 10. ASIA-PACIFIC MICE INDUSTRY SHARE, BY EVENT TYPE, 2017(%)
FIGURE 11. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC MEETINGS INDUSTRY ($BILLION), BY COUNTRY, 2017 & 2025 (%)
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC INCENTIVE TRAVEL INDUSTRY ($BILLION), BY COUNTRY, 2017 & 2025 (%)
FIGURE 13. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC CONVENTIONS INDUSTRY ($BILLION), BY COUNTRY, 2017 & 2025 (%)
FIGURE 14. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC EXHIBITIONS INDUSTRY ($BILLION), BY COUNTRY, 2017 & 2025 (%)

 
 

Asia-Pacific is one of the fastest developing regions in the world, and thus, strong economic growth is one of the major factors that boosts the growth of the MICE industry in this region. Despite slow growth of the Chinese economy, countries such as Singapore, Thailand, Japan, and India, have experienced demand from buyers at record levels in recent years and offer lucrative business opportunities for investors. Rapid growth in the business travel sector in recent decades has positioned Asia-Pacific as the largest market in the world. However, owing to lack of well-developed infrastructure  in the region , the prime focus of the governments is on infrastructural development, such as roads, airports, and others, to cater to the emerging demands for the travel industry. Ease of visa restrictions, investments in better infrastructure, and high demand in commercial aviation from Asia-Pacific are some of the other factors that fuel the growth of the Asia-Pacific MICE industry. In addition, high penetration of internet & technology in the densely populated countries supports the growth of the market. Therefore, developments in MICE industry majorly drive the economic growth, regional cooperation, and intellectual development in the region.

 

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