According to the Indian Exhibitions, Conferences & Events Services Association (IESA), the Meetings, Incentives, Conferences, and Exhibitions (MICE) market is expected to grow from roughly USD 49.4 billion in 2024 to around USD 103.7 billion by 2030, marking the beginning of an impressive transformation. With a strong compound annual growth rate (CAGR) of almost 13.2%, this spike highlights India’s growing influence in the world of business events. ETTravelWorld.com is the source.
With the help of a network of more than 3,000 professional service providers spread out throughout the nation, India’s MICE ecosystem currently organizes more than 35,000 corporate events yearly. Rapid developments in global connectivity, technology, and infrastructure are propelling the industry’s expansion.
India is rapidly becoming a popular location for international conferences and exhibitions, thanks to things like new convention centers in up-and-coming cities like Kochi, Khajuraho, and Varanasi, as well as expanded international airport networks and more than 2.4 million hotel rooms.
The MICE industry is helping to position India as a center for innovation, sustainability, and international cooperation in addition to boosting the country’s tourism economy, according to IESA. The expansion of India’s MICE industry “marks a new chapter in our economic story- it’s not just about events- it’s about building infrastructure, skills, and partnerships that place India on the global map,” stated IESA President Jatinder Kapur.
Significant job opportunities in event management, hospitality, logistics, and related services are anticipated as a result of the industry’s exponential growth. India’s ambition to become a premier global destination for business events by 2030 will be greatly aided by the MICE sector’s contribution, according to IESA and industry experts.
Stakeholders are working to realize this vision by advancing sustainable event practices that are in line with global ESG standards, professionalizing the event workforce, enhancing digital and hybrid event technologies, and improving regional infrastructure. Through programs and partnerships with trade associations, the Indian government is also promoting MICE tourism as a significant driver of economic expansion and international recognition.
The MICE sector is positioned to act as a potent catalyst for economic development, international collaboration, and job creation as India hosts important international forums and conventions that will propel the country toward a USD 100 billion+ milestone by 2030.
