Saudi Arabia MICE Market Research Report: Forecast (2025-2030)

Market Definition

Saudi Arabia MICE is a collective name for corporate events, meetings, incentives, conferences, and exhibitions organized by the kingdom. This segment is an important contributor to business tourism, promoting the diversification of the economy, generating job opportunities, and indeed stimulating the Saudi economy as it aims at attesting business-minded professionals from other countries around the world.

Market Insights & Analysis: Saudi Arabia MICE Market (2025-30):

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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Moreover, the increasing influx of international and national business events has led to the growth of the market in the country. Major MICE events were hosted in Saudi Arabia from 2022 to 2024, providing a big boost to the market growth. For instance, in 2023, the country hosted around 17,000 events that brought in more than 20 million visitors which is a 15% increase from the previous year. Other notable events include The Future Investment Initiative, the foremost meeting point of international investors and policymakers, helping to position Saudi Arabia on the world business map. Moreover, in December 2024, the International MICE Summit (IMS24) brought more than 1,600 business event professionals together, further establishing the country as a hub for international business events. Such occasions drove not only international visitor arrivals but also investments into amenities and infrastructure making a vital contribution to the diversification and growth of the country’s economy. With hallmark events like World Expo 2030 expected to bring in 40.7 million visits into the country just during the expo, the market is expected to grow substantially.

The foremost, contributing factor for the Saudi Arabia MICE Market, is Vision 2030, which has led to providing a significant amount of investments for the high-class infrastructure development in the country for the construction of varied networks, which include airports, railway networks, seaports, urban centers, and highways & expressway. This growing demand is to be accommodated by the launch of a new airline and airport expansion, 1 million square meters of expected venue space, and 854,000 hotel rooms by 2030.

The economic diversification plans of the country led by Vision 2030, have also added to the growing investment in hotel construction in the country that is projected to enhance business tourism. This will further boost the hospitality sector which is expected to reach around USD 17 billion by 2030. Therefore, new hotels are being constructed to accommodate modern conference facilities, helping in devising the rising MICE events. Most newly constructed hotels are in the major cities of the country, like Jeddah, Riyadh, and Dammam. They provide modern conference halls, advanced meeting rooms, spokesperson/event spaces, and exhibition and multimedia presentation spaces. Thus, for global business events, these are considered perfect suits. Along with the easy visa policies, the country has further expanded its airline networks which is also supporting growth in the MICE industry.

Moreover, the hosting of big sporting and cultural events is in line with Vision 2030 and is prioritized by the willingness of the country to show the significance of its cultural heritage. As a result of the promotion by the government for infrastructure and culture, the tourism sector has grown by approximately 70%. This led to enhanced engagement of both national and international audiences to create events. Enormous opportunities are provided in the MICE sector by providing the planning, logistics, coordination, and accommodation for conducting these events. Therefore, it is estimated that with the consistent focus on developing infrastructure for domestic and international business event hosting, the demand for aggregate MICE services will continue to rise during the forecast period. This will include events management, cultural performances, catering, and facility management which will provide growth opportunities in the market.

Saudi Arabia MICE Market 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 Opportunity:

Booming Domestic Tourism Through Investments & Events Creating Demand – The government's efforts to diversify the Saudi Arabian economy have led to significant growth in the domestic tourism industry of the country. The speedy growth in tourism is expected to be the dominating factor that will drive the MICE industry’s notable growth in the forecast period. It is expected that the revenue earned in the country from the travel and tourism market is poised to reach around USD 5 billion by 2030 providing numerous opportunities to the market players for capitalization.

Also to boost this, the E-visa facilities and eased regulations have led to the growing popularity of cultural activities and amusement tours. This further helped in the enlarging demand for the hosting of meetings and events for the global audience. To leverage the growing domestic market, company events are being set up to take place at distant venues like Riyadh and Jeddah. Additionally, a wider number of indoor events are being organized by both public and private organizations, including training seminars, product launches, and annual meetings. This creates opportunities for MICE organizations. Ongoing investments by the government in infrastructure and entertainment projects, together with the building of modern venues aimed at increasing tourism, foster an environment suitable for the expansion of the MICE industry. Saudi Arabia's development of increased air travel capacity, easier access to visas, and growing publicity as a business event host place means it is well positioned to host global conferences and exhibitions. This will bring more crowd to the country ensuring that the MICE industry continues to grow steadily in the coming years.

Saudi Arabia MICE Market Challenge:

Heavy Competition from Other Regional Hubs Impeding Market Growth – Saudi Arabia MICE Industry has to overcome certain vigorous competition from adjacent regions like Dubai, Abu Dhabi, and Qatar, which have had much longer histories of international events and much better-developed infrastructure. For instance, the UAE accounts for over 50% of the Middle East's MICE market, close to USD 5.62 billion in value by 2024 Dubai's reputation for luxury and innovation has solidified its status as a MICE powerhouse, attracting a diverse portfolio of international events. In contrast, Saudi Arabia's MICE industry has been relatively slower in growth. This means that while there has been progress made by Saudi Arabia, it still lags behind the UAE in the areas of market share and event volume. Hence, the country would need to put in continued infrastructure investment and create a proper event process to attract foreign conventions to overcome this challenge.

Saudi Arabia MICE Market (2025-30): Segmentation Analysis

The Saudi Arabia MICE Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for 2025–2030 at the national level. Based on the analysis, the market has been further classified as:

Based on Event Type:

• Meetings
• Incentives
• Conferences
• Exhibitions

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. These meetings foster collaboration through face-to-face interactions, providing enterprise leaders and managers with opportunities to strategize, determine overall performance, and cope with demanding situations in an interactive environment. As groups navigate rapid changes and an aggressive landscape, powerful internal communication has become essential. Company conferences facilitate real-time discussions, clarifying goals, policies, and work tactics, enhancing employees' understanding of their roles. These gatherings also encourage networking and brainstorming, sparking innovative ideas. Moreover, corporate meetings promote social interactions that strengthen organizational culture, boosting employee engagement and motivation, especially in times of rising workload pressures.

Based on the Source of revenue:

• Tickets & Registration Fees
• Accommodation
• Food & Beverage
• Advertising
• Exhibit Space Rental
• Sponsorships
• Transportation
• Others

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. In the case of organizers, these fees serve as the primary source of earnings to cover event costs and ensure profitability. Thus, it provides financial stability to plan the scope and scale of programs. For attendees, the fee is a means to meet other industry professionals and obtain the most current business intelligence for that industry. Also, in the highly competitive business landscape, events, conferences, and meetings provide an opportunity for brands to showcase what they can do and their unique selling proposition to potential clients, gain access to their target audience and cultivate a network of connections that will carry immense value toward a business's growth.

Gain a Competitive Edge with Our Saudi Arabia MICE Market Report

1. The Saudi Arabia MICE Market by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. The Saudi Arabia MICE Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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