Press Release

Saudi Arabia MICE Market Surging at a Projected CAGR of 11% to Reach USD4.6 Billion by 2030

Saudi Arabia MICE Market size was valued at around USD2.6 billion in 2024 and is projected to reach USD4.6 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, cites MarkNtel Advisors in the recent research report. MICE stands for Meetings, Incentives, Conferences, and Exhibitions. The MICE market consists of hosting and organizing these types of events. The events also include business conferences, corporate meetings, seminar presentations, and interaction programs. All primary reasons that are driving the market revolve around Vision 2030 of the country. Diversifying the revenue sources for the Saudi Arabian economy is the prime goal of Vision 2030. Therefore, building a high-class infrastructure, boosting the tourism & entertainment industry, and the hospitality sector are the steps taken by the government to achieve this goal.

In alignment with this goal, the development of new airports, seaports, transportation networks, and railway lines is being done with the improvement of the ones that are already there in the country. This is further making it easier for global businesses to prefer Saudi Arabia as a destination to have multiple events which boosts the demand for MICE. Moreover, easy visa policies are laid out by the Saudi government. As a result, the revenue from the business tourism sector can be increased. Additionally, e-visas are provided in exceptional cases to help organize cultural events of national or international importance. The rising focus on boosting tourism in the country is projected to generate USD 5 billion by 2030.

Additionally, the development of new hotels, properly fitted with contemporary requirements and infrastructure to accommodate special event demands, is drawing international business, cultural, or other significant event hosts. This is anticipated to drive the growth of the market with ongoing demand. Therefore, the increasing investments in hotel development to manage MICE events are estimated to create a market value of around USD 17 billion for the hospitality industry by 2030.

In addition, a significant growth in the market is attributed to the enlarging number of sports events hosted in the country. The country has already hosted events like Formula E, Dakar Rally, WWE Super Showdown, and Saudi-Pro golf championship, among the top sports events. The individuals in these events consist of athletes, coaches, sponsors, media, and audience. This large crowd base related to sports events creates the demand for facilities like transportation, catering, hospitality, and management services, further states the research report, Saudi Arabia MICE Market Analysis, 2025.

Saudi Arabia MICE Market Segmentation Analysis

Meetings Segment Holds the Largest Market Share

Based on the event type, the market is further bifurcated into meetings, incentives, conferences, and exhibitions. Among these event types, meetings lead the market by accounting for more than 35% share of the market. This highest share is owing to the growing focus on knowledge and information exchange in the corporate and other sectors. The benefits of face-to-face interaction, accurate information, consulting, and convenient strategy planning options in meetings attract the companies providing the hosting services of MICE events. This is one of the major factors leading to increased market growth. This will continue to dominate the market during the forecast period.

Tickets & Registration Fees the Main Source of Market Revenue

Of all the sources of revenue, Tickets and Registration Fees hold the largest share of more than 35% in the Saudi Arabia MICE industry. This is because the country is favored as a destination for hosting events and conferences by various industries like Entertainment, Automobiles, Aviation, Energy, and Utilities due to favorable tourism policies of the government. The delegate registration fees are beneficial for both organizers and participants by serving as the primary source of earning and profitability to the former and as a platform for networking, and skill development. This helps in branding, gaining new industry insights, and leveraging opportunities to meet and get connected to industry experts to the latter.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Sela, Benchmark, HEIGHTS Company, DICE Marketing and Advertising, The Gathering KSA, Eye of Riyadh, Luxury KSA, 360 Live, Masaahaat, Enso Arabia, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & service adoption?
5. How has the competition been shaping up across the nation?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?