In-depth Saudi Arabia MICE Market Analysis: Size, Share, Trends, and CAGR 11% Forecast for 2025-2030

The Saudi Arabia MICEs Market is projected to grow at a CAGR of around 11% during the forecast period, i.e., 2025-30. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.

In recent years, the government has been making continuous efforts to diversify its economy which is a major driving factor for the Saudi Arabia MICE Market. The heavy investments in building advanced infrastructure for tourism, entertainment, etc. are rapidly attracting national and international business events. Along with it, the government is easing out visa policies and taking initiatives to expand the transportation network which further enhances the opportunities in this sector. Thus, it has created a strong position for Saudi Arabia in the most preferred destinations globally for conducting business events.

Moreover, the increasing influx of international and national business events has led to the growth of the market in the country. Major MICE events were hosted in Saudi Arabia from 2022 to 2024, providing a big boost to the market growth. For instance, in 2023, the country hosted around 17,000 events that brought in more than 20 million visitors which is a 15% increase from the previous year. Other notable events include The Future Investment Initiative, the foremost meeting point of international investors and policymakers, helping to position Saudi Arabia on the world business map. Moreover, in December 2024, the International MICE Summit (IMS24) brought more than 1,600 business event professionals together, further establishing the country as a hub for international business events. Such occasions drove not only international visitor arrivals but also investments into amenities and infrastructure making a vital contribution to the diversification and growth of the country’s economy. With hallmark events like World Expo 2030 expected to bring in 40.7 million visits into the country just during the expo, the market is expected to grow substantially.

The foremost, contributing factor for the Saudi Arabia MICE Market, is Vision 2030, which has led to providing a significant amount of investments for the high-class infrastructure development in the country for the construction of varied networks, which include airports, railway networks, seaports, urban centers, and highways & expressway. This growing demand is to be accommodated by the launch of a new airline and airport expansion, 1 million square meters of expected venue space, and 854,000 hotel rooms by 2030.

The economic diversification plans of the country led by Vision 2030, have also added to the growing investment in hotel construction in the country that is projected to enhance business tourism. This will further boost the hospitality sector which is expected to reach around USD 17 billion by 2030. Therefore, new hotels are being constructed to accommodate modern conference facilities, helping in devising the rising MICE events. Most newly constructed hotels are in the major cities of the country, like Jeddah, Riyadh, and Dammam. They provide modern conference halls, advanced meeting rooms, spokesperson/event spaces, and exhibition and multimedia presentation spaces. Thus, for global business events, these are considered perfect suits. Along with the easy visa policies, the country has further expanded its airline networks which is also supporting growth in the MICE industry.

Moreover, the hosting of big sporting and cultural events is in line with Vision 2030 and is prioritized by the willingness of the country to show the significance of its cultural heritage. As a result of the promotion by the government for infrastructure and culture, the tourism sector has grown by approximately 70%. This led to enhanced engagement of both national and international audiences to create events. Enormous opportunities are provided in the MICE sector by providing the planning, logistics, coordination, and accommodation for conducting these events. Therefore, it is estimated that with the consistent focus on developing infrastructure for domestic and international business event hosting, the demand for aggregate MICE services will continue to rise during the forecast period. This will include events management, cultural performances, catering, and facility management which will provide growth opportunities in the market.

Exploring the Market Dynamics: What’s Driving the Growth of Saudi Arabia MICE Market?

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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Key Takeaways from the Market Study:

·       Historical Data: 2020-23

·       Base Year: 2024

·       Forecast Period: 2025-30

·       CAGR (2025-2030): 11%

·       Key Players to Watch: Sela, Benchmark, HEIGHTS Company, DICE Marketing and Advertising, The Gathering KSA, Eye of Riyadh, Luxury KSA, 360 Live, Masaahaat, Enso Arabia, and others Others are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.

Market Segmentation of Saudi Arabia MICE Industry

The Saudi Arabia MICE market is segmented as follows:

• By Event Type
• Meetings - Market Size & Forecast 2020-2030, USD Million
• Incentives- Market Size & Forecast 2020-2030, USD Million
• Conferences- Market Size & Forecast 2020-2030, USD Million
• Exhibitions- Market Size & Forecast 2020-2030, USD Million
• By Source of Revenue
• Tickets & Registration Fees- Market Size & Forecast 2020-2030, USD Million
• Accommodation- Market Size & Forecast 2020-2030, USD Million
• Food & Beverage- Market Size & Forecast 2020-2030, USD Million
• Advertising- Market Size & Forecast 2020-2030, USD Million
• Exhibit Space Rental- Market Size & Forecast 2020-2030, USD Million
• Sponsorships- Market Size & Forecast 2020-2030, USD Million
• Transportation- Market Size & Forecast 2020-2030, USD Million
• Others- Market Size & Forecast 2020-2030, USD Million
• By Industry
• Pharmaceuticals & Healthcare- Market Size & Forecast 2020-2030, USD Million
• IT & Telecom- Market Size & Forecast 2020-2030, USD Million
• Banking, Financial Services & Insurance- Market Size & Forecast 2020-2030, USD Million
• Automotive- Market Size & Forecast 2020-2030, USD Million
• Building & Construction- Market Size & Forecast 2020-2030, USD Million
• Energy & Utilities- Market Size & Forecast 2020-2030, USD Million
• FMCG & Food Industry - Market Size & Forecast 2020-2030, USD Million
• Chemicals & Water - Market Size & Forecast 2020-2030, USD Million
• Aviation - Market Size & Forecast 2020-2030, USD Million
• Others - Market Size & Forecast 2020-2030, USD Million

 

According to report , the rechargeable segment holds a larger share of the Global Saudi Arabia MICE Market mainly due to their lower costs.

According to reports, offline retail holds the largest market share.

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Saudi Arabia MICE Market Geographical Analysis

Central

South

East

West

According to reports, Saudi Arabia holds a prominent share of the Saudi Arabia MICE Market

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