The Singapore Meetings, Incentives, Conferences And Exhibitions (MICE) Industry Involves Organizing And Hosting Events Such As Corporate Meetings, Conventions, Exhibitions, Conferences And Incentive Travel Programs. Singapore MICE Industry Attracts Business Events And Travelers Through Its Well-Developed Infrastructure, State-Of-The-Art Venues And Facilities, Political Stability And Overall Clean, Green And Safe Environment. It Is One Of The Most Lucrative And Fast Growing Industry In Singapore As The Country Aims To Substantially Increase Revenue From Tourism.
Market Key Trends:
The Expansion Of The Tourism Industry Has Been A Key Driver Accelerating Growth Of The Singapore MICE Market. According To The Report, Singapore Received Over 19 Million Visitors In 2019 Including 6.6 Million Business Visitors. This Represents A Significant Pool Of Potential MICE Travelers If Events And Conferences Are Strategically Staged. Furthermore, Singapore Is Aggressively Promoting Itself As A Leading MICE Destination Globally Through International Roadshows, Partnerships And Hosting Of Mega Events. This Marketing Push Has Resulted In More Associations, Corporations And Event Organizers Choosing The Country Over Other Convention Rivals. The Significant Growth In MICE Travelers Arriving On Incentive Trips And Attending Major Conventions Has Significantly Boosted The Overall Singapore Meetings, Incentives, Conferences and Exhibitions (MICE) MarketRevenues In Recent Years.
Segment Analysis
The Singapore Meetings, Incentives, Conferences And Exhibitions (MICE) Market Is Dominated By The Meetings And Conferences Segment. This Is Because Singapore Has Some Of The Best Conference And Exhibition Centers Across The Globe Like The Suntec Singapore Convention & Exhibition Centre And Marina Bay Sands Which Can Host Large Scale Conferences And Exhibitions. These World Class Facilities Help Attract Global Organizers To Host Events In Singapore.
Key Takeaways
Singapore Meetings, Incentives, Conferences and Exhibitions (MICE) Market Size Is Expected To Witness High Growth Over The Forecast Period Of 2023 To 2030. The Global Singapore Meetings, Incentives, Conferences and Exhibitions (MICE) MarketIs Estimated To Be Valued At US$3.82 Bn In 2023 And Is Expected To Exhibit A CAGR Of 4.6% Over The Forecast Period 2023 To 2030.
Regional Analysis: The Asia Pacific Region Is Expected To Dominate The Singapore Meetings, Incentives, Conferences and Exhibitions (MICE) MarketOver The Forecast Period. This Is Due To The Presence Of Countries Like Singapore Which Is Considered A Hub For MICE Activities In The Region. Singapore's Strategic Location And Well-Developed Infrastructure Make It An Ideal Destination For Events. The Government Also Provides Strong Support To Develop The MICE Industry In The Country.
Key Players: Key Players Operating In The Singapore Meetings, Incentives, Conferences And Exhibitions (MICE) Market Are Cerner Corporation, Epic Systems Corporation, GE Healthcare, Siemens Healthineers, Drchrono, Kareo, Advancedmd, Athenahealth, Eclinicalworks, Allscripts Healthcare Solutions. These Players Are Focusing On Enhancing Their MICE Service Offerings And Capabilities In Singapore To Gain More Projects And Events.
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