What is MICE or business tourism?
‘Meetings, Incentives, Conferences and Exhibitions.’ These are the words behind the acronym MICE, a market niche that refers to people who travel around the world for professional and/or business reasons. Thus, when asking what business tourism is, it can be said that we are referring to a growing specialization within the tourism sector. As a result, there is an increasing demand for professionals to meet the needs of the companies operating in this field.
While data for 2023 business and meetings tourism is still being released, it is expected to exceed the €10.435 billion generated in 2022, according to the latest Braintrust Barometer for Spain Convention Bureau. This figure, representing an 18% increase compared to the previous year, highlights the importance of business tourism today and its potential for both companies and professionals specializing in this field.
MICE is the name given to the industry of business events and professional meetings:
- M for ‘Meetings’, referring to gatherings between professionals in a specific field or specialized trade fairs such as Fitur in Madrid, dedicated to the tourism industry.
- I for ‘Incentives’, referring to trips organized either to facilitate face-to-face business deals or as rewards for employees, among other purposes.
- C for ‘Conferences’, one of the fastest-growing areas. These are congresses focused on specific topics that bring together experts and professionals, often requiring travel across cities or countries.
- E for ‘Exhibitions’, which include events aimed at showcasing a product or service, film premieres, and similar presentations.
What is business tourism or MICE?
‘Meetings, Incentives, Conferences and Exhibitions’: these are the components behind the acronym MICE and answer the question what is business tourism. It is a subsegment of the tourism industry that includes travel and mobility for professional, corporate, and economic purposes, among others.
The importance of business tourism is reflected in economic figures. In addition to the data mentioned for Spain, global impact is also significant: in 2022, the latest year with complete data available, the industry’s economic impact almost reached pre-pandemic levels. In Europe alone, it generated €191 billion in turnover (Spain Convention Bureau).
What is the importance of business tourism?
MICE destinations benefit significantly from the economic effects of being key hubs for business tourism. Countries such as Spain, Germany, France, the United Kingdom, and Portugal stand out in this regard. Which sectors benefit most from this phenomenon?
- Airlines and other transport providers. Both air and ground transport experience increased demand, with airlines and rail companies being the most affected.
- Hotels and other accommodation providers. Hotel chains, apartment rentals, and booking platforms all benefit from increased demand.
- Hospitality and restaurants. A higher number of visitors leads to increased revenue in restaurants, cafés, and bars.
- Urban and interurban transport. Taxis, metro systems, buses, and commuter trains all experience higher usage.
- Marketing and communications. Agencies work to position cities and countries as attractive MICE destinations for conferences and corporate events.
What MICE destinations exist?
Which are the main source markets for business tourists? According to the Business Tourism Demand Study, the main outbound MICE markets include:
- Germany
- United Kingdom
- France
- Benelux
- Italy
- Portugal
For Spanish travelers, the main MICE destinations are:
- France
- Portugal
- Italy
Examples and types of business tourism
There are four main types of business tourism, corresponding to the components of the acronym MICE: Meetings, Incentives, Conferences, and Exhibitions.
Examples include:
- Corporate assemblies bringing together professionals from different countries where a company operates.
- Incentive trips as rewards for employees who meet sales targets or successfully complete projects.
- Conferences and congresses focused on specific topics such as medicine or technology.
- Exhibitions such as tourism fairs, hospitality fairs, or marketing and social media events.
Across all cases, several common factors highlight the importance of business tourism:
- Non-seasonal tourism, stable throughout the year, with summer being the least active period.
- Higher average spending per visitor, up to 30% according to recent data.
- Average stay of four days.
- Contribution to destination promotion, increasing visibility for future leisure tourism.
As mentioned at the beginning, MICE is a highly specialized area, and due to the importance of business tourism today, qualified professionals are essential. At EAE, we offer programs designed to prepare students for this sector: the Master’s in Event Management, Protocol and Business Tourism and the Master’s in International Tourism Management. As the EAE Barcelona team states, “we are in a booming sector full of opportunities and with an endless capacity for reinvention.” It is time to train for a field full of possibilities for qualified professionals and companies committed to business tourism.
