India Outbound MICE Tourism Market worth US$ 13.4 Billion by 2030|DPI Research
Posted by maria rai on September 22nd, 2023
DPI Research has published a new research report titled "India Outbound Meetings, Incentives, Conferences and Exhibitions (MICE) Tourism Market 2023: Outlook, Trends, Opportunities and Forecasts to 2031" in its research database.
According to the latest research study 2023, India Outbound Meetings, Incentives, Conferences and Exhibitions (MICE) tourism market size is expected to reach US$ 13.4 billion by 2031.
The Indian Outbound Tourism (MICE) is experiencing significant growth due to a combination of economic factors, government support, infrastructure development, and increasing awareness among businesses and individuals of the benefits of attending international MICE events. As India continues to expand its global business presence, the outbound MICE tourism market is likely to continue its growth trajectory.
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The growth of India's outbound MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism market is influenced by several key factors. MICE tourism is a significant segment of the overall travel industry, and India's increasing participation in this market can be attributed to the following factors:
Economic Growth: India's expanding economy has resulted in a larger disposable income for businesses and individuals. This has led to increased corporate spending on MICE activities, including international events, conferences, and exhibitions.
Globalization of Businesses: Indian businesses are increasingly going global, which necessitates international meetings, collaborations, and networking opportunities. This drives the demand for outbound MICE tourism.
Infrastructure Development: The growth of the outbound MICE tourism market is closely tied to the development of infrastructure, including modern convention centers, hotels, and transportation. India has been investing in improving these facilities to attract international events and conferences.
Government Support: The Indian government has been actively promoting tourism and has introduced initiatives to facilitate outbound MICE travel. This includes visa liberalization, simplified regulations, and financial incentives for hosting international conferences in India.
Rising Education and Skill Development: India's education and skill development sector is booming, and students and professionals are increasingly seeking international exposure through conferences, workshops, and educational events. This drives outbound MICE tourism, particularly in the education sector.
Diverse Business Sectors: India is home to a wide range of industries, including IT, pharmaceuticals, finance, and manufacturing. These industries frequently participate in international trade shows, exhibitions, and conferences, contributing to outbound MICE tourism.
Corporate Incentive Programs: Many Indian companies use outbound MICE tourism as part of their employee incentive programs. This encourages employees to achieve targets and participate in international conferences and events.
Increasing Connectivity: Improved air connectivity and more affordable international flights have made it easier for Indian travelers to explore international MICE destinations.
Growing Awareness: There is a growing awareness among Indian businesses and organizations about the benefits of participating in international MICE events. Networking, knowledge sharing, and business opportunities are significant incentives.
Destination Diversity: Indian travelers are increasingly looking for diverse destinations, both popular and emerging, to host MICE events. This diversification of destinations adds to the growth of outbound MICE tourism.
Technology Advancements: The use of technology, such as virtual and hybrid meetings, has made it easier for Indian companies to participate in international MICE events, even during challenging times like the COVID-19 pandemic.
Industry Collaboration: Collaboration between various stakeholders in the travel and MICE industry, including event organizers, travel agencies, and hotels, has played a vital role in promoting outbound MICE tourism.
India outbound MICE tourism market is a comprehensive study and presentation of drivers, restraints, opportunities, demand, market size, insights, forecast and trends for the period 2015 - 2031. In addition, the report provides historical market data from 2015 to 2022 and forecasts to 2031.
The report uses data and analysis to discuss potential lucrative opportunities, current and future trends related to Indian outbound MICE tourism flow, spending and key target markets. The report provides a clear insight into the current and future tourism developments in the Indian outbound MICE tourism market. In addition, this report uses country-specific analysis to study the India outbound MICE tourism market. A detailed country-specific analysis of the market is presented, covering a total of 30 countries. The driving forces and restraints are studied in detail to better understand the market and identify future growth opportunities in the market.
After a thorough study of the historical and current growth parameters, the growth prospects of the Indian outbound MICE tourism market are determined with utmost precision.
The Report Analyses the Market on the Basis of Countries and Presents the Forecast in Terms of Value and Volume for the Next 8 Years. The Top 30 Countries Included in the Report are:
3. United States
7. New Zealand
8. Sri Lanka
20. United Arab Emirates (UAE)
22. Saudi Arabia
26. United Kingdom
This Well-Versed and Comprehensive India Outbound MICE Tourism Market Research Report 2023 Delivers:
• Comprehensive Research Methodology of the India Outbound MICE Tourism Market
• Detailed and Extensive Market Overview with Key Analyst Insights
• Insights about Market Determinants that are Stimulating the India Outbound MICE Tourism Market
• To Analyze the Historical Growth in the Market Size of the India Outbound MICE Tourism from 2015 to 2022
• To Estimate and Forecast the Market Size of the India Outbound MICE Tourism Market from 2023 to 2031 and Growth Rate until 2031
• The Market Size of the India Outbound MICE Tourism with Eight Years Forecast
• Provides Comprehensive Insights on the Latest Indian Outbound MICE Tourists Going Abroad with Eight Years Forecast
• Detailed Market Share Assessment of the India Outbound MICE Tourism Market with Eight Years Forecast
• Includes a Detailed Analysis of the India Outbound MICE Tourism Spending in the Top 30 Most-Visited Foreign Countries
• Detailed Insights of the India Outbound MICE Tourists Going to the Top 30 Most-Visited Foreign Countries
• Delivers an In-Depth Analysis of Evolving Market Trends, Drivers, and Restraints of the India Outbound MICE Tourism Market
The Report Helps Answer the Following Questions:
• What is the current size of the overall India outbound MICE tourism market?
• How much will this market be worth from 2023 to 2031?
• How many outbound MICE tourists are there in India?
• Which foreign country is best for Indian to travel?
• What are the top outbound MICE destinations from India?
• What are Indian outbound MICE tourism trends?
• How many Overall Indian MICE tourists visit globally?
• Which country has the highest MICE tourists visit by the Indian people?
• What are the market shares of the India outbound MICE tourism visitation and market?
• What are the main drivers and restraints in the India outbound MICE tourism market?
• How will the industry evolve during the forecast period 2023 - 2031
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