Markntel Advisors’ report, Saudi Arabia MICE Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Saudi Arabia MICE presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Saudi Arabia MICE Market Research Report & Market Summary:
Saudi Arabia MICE Market size was valued at around USD 2.6 billion in 2024 and is projected to reach USD 4.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 11% during the forecast period, i.e., 2025-30. In recent years, the government has been making continuous efforts to diversify its economy which is a major driving factor for the Saudi Arabia MICE Market. The heavy investments in building advanced infrastructure for tourism, entertainment, etc. are rapidly attracting national and international business events. Along with it, the government is easing out visa policies and taking initiatives to expand the transportation network which further enhances the opportunities in this sector. Thus, it has created a strong position for Saudi Arabia in the most preferred destinations globally for conducting business events.
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Saudi Arabia MICE Market Dynamics:
Key Driver-
Growing Number of Sports Events Driving Market Growth – The focus is continuously growing on hosting the important national and international athletics & sporting events by the government, playing an important role in the growing MICE market of the country. The country has already shown its strength in the global sports stage by hosting events like; Formula E, WWE Super Showdown, Dakar Rally, and the Saudi Pro-Golf Championship. The crowd attracted by these events is quite large and diverse combining athletes, audiences, media, and sponsors. It creates a huge demand for transportation, hospitality, and event management services. The continuous influx of national and international visitors, sponsors, etc. also led by the tradeshows, conferences, and exhibitions that help in directly uplifting the MICE industry.
Further, in continuance of Vision 2030, the investments in building strong sports infrastructure that combines artistic stadiums, hotels, and transportation networks which are the foundation of these events are boosting the market demand. They are led by the goal of tourism promotion and economic diversification. Also, by 2030, the tourism sector owing to such events is projected to attract around 150 million visitors annually, and the country is poised to capitalize on increased global attention. Further, the influx of international visitors to these events led to the enhancement of the position of Saudi Arabian MICE facility-providing companies for which the surge in sports events remains the primary driver for the industry.
Saudi Arabia MICE Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Event Type
- Meetings – Market Size & Forecast 2020-2030, USD Million
- Incentives- Market Size & Forecast 2020-2030, USD Million
- Conferences- Market Size & Forecast 2020-2030, USD Million
- Exhibitions- Market Size & Forecast 2020-2030, USD Million
The meeting event type segment accounts for 35% of the MICE market share in 2024, driven by the growing demand from groups to improve communication and knowledge exchange.
By Source of Revenue
- Tickets & Registration Fees- Market Size & Forecast 2020-2030, USD Million
- Accommodation- Market Size & Forecast 2020-2030, USD Million
- Food & Beverage- Market Size & Forecast 2020-2030, USD Million
- Advertising- Market Size & Forecast 2020-2030, USD Million
- Exhibit Space Rental- Market Size & Forecast 2020-2030, USD Million
- Sponsorships- Market Size & Forecast 2020-2030, USD Million
- Transportation- Market Size & Forecast 2020-2030, USD Million
- Others- Market Size & Forecast 2020-2030, USD Million
The tickets and registration fees segment is predicted to account for more than 35% share of the MICE market. It is owing to benefits for organizers, participating corporate houses, and industry professionals for their Meetings and conferences.
By Industry
- Pharmaceuticals & Healthcare- Market Size & Forecast 2020-2030, USD Million
- IT & Telecom- Market Size & Forecast 2020-2030, USD Million
- Banking, Financial Services & Insurance- Market Size & Forecast 2020-2030, USD Million
- Automotive- Market Size & Forecast 2020-2030, USD Million
- Building & Construction- Market Size & Forecast 2020-2030, USD Million
- Energy & Utilities- Market Size & Forecast 2020-2030, USD Million
- FMCG & Food Industry – Market Size & Forecast 2020-2030, USD Million
- Chemicals & Water – Market Size & Forecast 2020-2030, USD Million
- Aviation – Market Size & Forecast 2020-2030, USD Million
- Others – Market Size & Forecast 2020-2030, USD Million
By Region
- Central
- South
- East
- West.
As indicated in the latest market research report published by Markntel Advisors, “Saudi Arabia MICE Research Report: Forecast (2025-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Saudi Arabia MICE industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/saudi-arabia-mice-market.html
Top Companies Operating in the Saudi Arabia MICE Market:
- Sela
- Benchmark
- HEIGHTS Company
- DICE Marketing and Advertising
- The Gathering KSA
- Eye of Riyadh
- LuxuryKSA
- 360 Live
- Masaahaat
- Enso Arabia
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Saudi Arabia MICE Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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