MarkNtel Advisors recently published a detailed industry analysis of the Saudi Arabia MICE Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Saudi Arabia MICE Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The 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.
What are the major Driver the Saudi Arabia MICE industry?
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.
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What segments define the Saudi Arabia MICE market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
· By Event Type
o Meetings - Market Size & Forecast 2020-2030, USD Million
o Incentives- Market Size & Forecast 2020-2030, USD Million
o Conferences- Market Size & Forecast 2020-2030, USD Million
o Exhibitions- Market Size & Forecast 2020-2030, USD Million
According to report, 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
o Tickets & Registration Fees- Market Size & Forecast 2020-2030, USD Million
o Accommodation- Market Size & Forecast 2020-2030, USD Million
o Food & Beverage- Market Size & Forecast 2020-2030, USD Million
o Advertising- Market Size & Forecast 2020-2030, USD Million
o Exhibit Space Rental- Market Size & Forecast 2020-2030, USD Million
o Sponsorships- Market Size & Forecast 2020-2030, USD Million
o Transportation- Market Size & Forecast 2020-2030, USD Million
o Others- Market Size & Forecast 2020-2030, USD Million
According to report, The tickets and registration fees segment is predicted to account for more than 35% share of the MICE market.
· By Industry
o Pharmaceuticals & Healthcare- Market Size & Forecast 2020-2030, USD Million
o IT & Telecom- Market Size & Forecast 2020-2030, USD Million
o Banking, Financial Services & Insurance- Market Size & Forecast 2020-2030, USD Million
o Automotive- Market Size & Forecast 2020-2030, USD Million
o Building & Construction- Market Size & Forecast 2020-2030, USD Million
o Energy & Utilities- Market Size & Forecast 2020-2030, USD Million
o FMCG & Food Industry - Market Size & Forecast 2020-2030, USD Million
o Chemicals & Water - Market Size & Forecast 2020-2030, USD Million
o Aviation - Market Size & Forecast 2020-2030, USD Million
o Others - Market Size & Forecast 2020-2030, USD Million
Explore the Complete Saudi Arabia MICE Market Analysis Report – https://www.marknteladvisors.com/research-library/saudi-arabia-mice-market.html
Geographical Analysis: Saudi Arabia MICE Market
o Central
o South
o East
o West
Saudi Arabia MICE Market Share & Competitive Landscape:
The Saudi Arabia MICE Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Saudi Arabia MICE Market are:
- Sela
- Benchmark
- HEIGHTS Company
- DICE Marketing and Advertising
- The Gathering KSA
- Eye of Riyadh
- LuxuryKSA
- 360 Live
- Masaahaat
- Enso Arabia
Questions Addressed in this Study
1.What factors are driving the Saudi Arabia MICE Market growth?
2.How is the Saudi Arabia MICE Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Saudi Arabia MICE Market?
4.What is the current size of the Saudi Arabia MICE Market, and how is it projected to change in the future?
6.What is the future outlook for the Saudi Arabia MICE Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
More Research Studies Report:
-Biocomposites Market size was valued at around USD 36.9 billion in 2024 and is projected to reach USD 89 billion by 2030 with a CAGR of around 16%.
-Saudi Arabia MICE Market size was valued at around USD 1.34 billion in 2024 & is projected to reach USD 1.87 billion by 2030 with a CAGR of around 5.7%.
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