The tourism and hospitality sector frequently uses the acronym MICE to refer to activities related to corporate events. MICE stands for Meetings, Incentives, Conferences, and Exhibitions/Events. In the hotel industry, the MICE market encompasses events held in hotels (seminars, client/prospect conferences, conventions, sales incentives, team building, etc.) as well as the benefits generated by external events (trade shows). Revenue in the MICE market comes from accommodation, venue rental, catering, and potentially additional activities.
The MICE sector primarily involves hotels, resorts, and upscale venues that have the necessary infrastructure, such as conference rooms and tailored services (coffee breaks, etc.). Their image is often closely linked to hosting client events or sales incentive programs. These activities sometimes represent up to a quarter of these establishments’ revenue. Xerfi offers a detailed analysis of the MICE market.
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