MICE is a sub-segment of this very wide and dynamic global travel industry. According to the World Tourism Organization (UNWTO) business travel segment accounted for 14% of total international tourist arrivals. As against this, MICE: The Stand out Travel Segment Articles travel for leisure, recreation and holidays segment resulted in 52% of international tourist arrivals. MICE comes under the business travel segment. So it is not a very big segment of the travel industry.
Yet, it is quite unique and different from rest of the travel industry and even different from the business travel market. The first and foremost aspect differentiating it from the rest of the travel industry is the growth it has been registering and the attention it is getting in recent years.
But there are other aspects of it which make it interesting. The first unique aspect is its composition and segments. MICE stands for Meetings, Incentives, Conferences, and Exhibitions. All these segments are different from each other due to their focus, objectives, agendas, duration and even can have different types of destinations. Apart from this, the incentives sub-segment is a totally stand out sub-segment, which essentially is company sponsored travel given to its employees, associates, dealers/distributors as an incentive for their performance. So, this is more of a leisure trip sponsored or provided by a corporate.
If we look at this travel segment, then we may say that it is not so much about travel as it is about regular business dealings related to marketing, supply chain, business reviews and as much about exploring new markets and geographies and even launching products. Therefore, it is primarily a normal business or operational activity which is essentially tailored around travel, and outdoor locations and external destinations. And thus, the reach and impact of MICE goes well beyond the traditional travel industries