The global Israel Meetings, Incentives, Conferences and Exhibitions Market is estimated to be valued at US$ 1.92 billion in 2022 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Israel Meetings, Incentives, Conferences and Exhibitions (MICE) market offers event planning services for meetings, conferences, trade shows, and other events that aim to drive business opportunities. MICE events allow participants to network, learn about new products and services, and experience cultural activities.
Market key trends:
One of the key trends in the Israel MICE market is the growth of hybrid events. With the COVID-19 pandemic restricting international travel, event organizers are increasingly offering both in-person and virtual participation options. This allows global attendees to engage through online streaming while still providing an on-site experience. Hybrid events help open the Israeli MICE market to a broader international audience and ensure events can still take place regardless of travel restrictions.
Segment Analysis
The Israel Meetings, Incentives, Conferences and Exhibitions (MICE) market is segmented into meetings, incentives, conferences, and exhibitions. The conferences segment currently dominates the market, accounting for nearly 35% share in 2023. The segment is dominating owing to the frequent conferences and seminars organized by various organizations in Israel annually to promote business, trade and industry. The growing adoption of hybrid and virtual conference models post-COVID is further propelling the growth of this segment.
Key Takeaways
The Israel Meetings, Incentives, Conferences And Exhibitions Market Demand is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing business events and corporate travel in the country.
Regional Analysis
The Israel MICE market is dominated by the Central region which accounts for around 40% share owing to the presence of key cities like Tel Aviv and Jerusalem that host major conferences and exhibitions. The Southern region is expected to grow at fastest pace during the forecast period supported by growing incentives travel to tourist destinations in South Israel.
Key Players
Key players operating in the Israel MICE market are Kenes Group, RMC, Kuoni DMC, ISSTA, Diesenhaus Unitours, Talent, SMG, BCD Travel, CWT, and Access Israel. Kenes Group is currently the leading player owing to its expertise in organizing large international conferences in Israel.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
