'Meetings, incentives, conferences and exhibitions'. These are the words behind the acronym MICE , a niche market that refers to those people who travel around the world for professional and/or work reasons. Thus, when asked ' what is business tourism ', we can answer that we are dealing with an area of specialization within the tourism sector that is in full expansion, which is why more and more people are required to meet the demand for professionals that companies dedicated to this sector are requiring.
As the data generated by meetings and business tourism in 2023 is released , it is expected to exceed the 10,435 million euros it generated in 2022 according to the latest Braintrust Barometer for the Spain Convention Bureau . The figure, which represents an increase of 18% compared to the previous year, clearly shows the importance of business tourism at the moment and what it can offer to companies and professionals who specialize in this field.
MICE is the name given to the events and meetings jamaica whatsapp data industry for business/commercial/professional reasons :
M for 'meetings' , referring to meetings between professionals specialising in a certain subject or specific fairs such as Fitur, in Madrid, dedicated to the tourism industry.
I for 'incentive' , which refers to those trips that are organized for a 'face-to-face' meeting with the idea of reaching business agreements or when employees are offered a getaway as an incentive, among others.
C for 'conferences' , one of the most booming areas. These are conferences that focus on a specific subject and bring together experts and experts in a specific topic that involves many people moving from one city/country to another.
And for 'exhibitions' , which normally includes events and activities that have the purpose of presenting a particular product/service of a brand, when a film premiere is held, etc.
What is business tourism or MICE?
' Meetings, incentives, conferences and exhibitions ': meetings, incentives, conferences and exhibitions/presentations. These are the words, through their initials, that are behind the acronym MICE and answer the question ' what is business tourism ?'. It is a subsegment of the tourism sector that includes those activities that involve travel and transfers of professionals for professional and work, business and economic reasons, among others.
The importance of business tourism can be summed up in figures. To the one we gave above, in relation to how this market behaves in Spain , we could add what this area generates internationally: in 2022, the most recent closed year for which data is available – for the moment, awaiting the final balance of 2023 –, the economic impact generated by this industry internationally approached pre-pandemic levels. In Europe, a business volume of 191 billion euros was reached (Spain Convention Bureau).
What is the importance of business tourism?
MICE destinations are benefiting from the economic effects that a country has when it is among those key places for business tourism. We previously referred to both Spain, as a source and receiver of travellers, and to Germany, France, the United Kingdom and Portugal, among others. What types of market sub-segments benefit from this phenomenon?
Airlines and other means of transport . Land and air transport are increasing in particular. Airlines and railway companies are particularly affected by this pull effect.
Hotels and other types of accommodation and lodging . Both chains and those dedicated to renting apartments and homes for tourist use, as well as portals and websites that mediate this type of reservations.