Saudi Arabia MICE Market to Grow Exponentially, Expected to Hit USD 4.6 billion by 2030 at 11% CAGR: MarkNtel Advisors

Business Mar 3, 2025 17 Add to Reading List

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Saudi Arabia MICE Market, The Saudi Arabia MICE Market size was valued at around USD 2.6 billion in 2024 and is projected to reach USD 4.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 11% during the forecast period, i.e., 2025-30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Saudi Arabia MICE Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2025-2030
Market Size in 2024: USD 2.6 billion
CAGR (2025-2030): 11%

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Saudi Arabia MICE Market Segmentation Breakdown:

The Saudi Arabia MICE Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are 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

The meeting event type segment accounts for 35% of the MICE market share in 2024, driven by the growing demand from groups to improve communication and knowledge exchange.

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

The tickets and registration fees segment is predicted to account for more than 35% share of the MICE market. It is owing to benefits for organizers, participating corporate houses, and industry professionals for their Meetings and conferences.

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

Geographical Growth Insights:

By Region
- Central
- South
- East
- West

MarkNtel Advisors Highlights Key Market Drivers for 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.

A Comprehensive Analysis of Leading Companies in Saudi Arabia MICE Market

Sela
Benchmark
HEIGHTS Company
DICE Marketing and Advertising
The Gathering KSA
Eye of Riyadh
LuxuryKSA
360 Live
Masaahaat
Enso Arabia
Others

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What are the growth Opportunity driving the Saudi Arabia MICE Market?

Booming Domestic Tourism Through Investments & Events Creating Demand – The government's efforts to diversify the Saudi Arabian economy have led to significant growth in the domestic tourism industry of the country. The speedy growth in tourism is expected to be the dominating factor that will drive the MICE industry’s notable growth in the forecast period. It is expected that the revenue earned in the country from the travel and tourism market is poised to reach around USD 5 billion by 2030 providing numerous opportunities to the market players for capitalization.

Also to boost this, the E-visa facilities and eased regulations have led to the growing popularity of cultural activities and amusement tours. This further helped in the enlarging demand for the hosting of meetings and events for the global audience. To leverage the growing domestic market, company events are being set up to take place at distant venues like Riyadh and Jeddah. Additionally, a wider number of indoor events are being organized by both public and private organizations, including training seminars, product launches, and annual meetings. This creates opportunities for MICE organizations. Ongoing investments by the government in infrastructure and entertainment projects, together with the building of modern venues aimed at increasing tourism, foster an environment suitable for the expansion of the MICE industry. Saudi Arabia's development of increased air travel capacity, easier access to visas, and growing publicity as a business event host place means it is well positioned to host global conferences and exhibitions. This will bring more crowd to the country ensuring that the MICE industry continues to grow steadily in the coming years.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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