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INDIA OUTBOUND MICE TOURISM MARKET WORTH US$ 13.4 BILLION BY 2031|DPI RESEARCH
17.09.2023 - 06:51 / breakingtravelnews.com
According to the latest research study 2023, India Outbound Meetings, Incentives, Conferences and Exhibitions (MICE) tourism market size is expected to reach US$ 13.4 billion by 2031.
The Indian Outbound Tourism (MICE) is experiencing significant growth due to a combination of economic factors, government support, infrastructure development, and increasing awareness among businesses and individuals of the benefits of attending international MICE events. As India continues to expand its global business presence, the outbound MICE tourism market is likely to continue its growth trajectory.
The market’s best insights begin with a simple request – get your sample now: https://dpiresearch.com/reports/india-outbound-mice-tourism-market-size/
The growth of India’s outbound MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism market is influenced by several key factors. MICE tourism is a significant segment of the overall travel industry, and India’s increasing participation in this market can be attributed to the following factors:
Economic Growth: India’s expanding economy has resulted in a larger disposable income for businesses and individuals. This has led to increased corporate spending on MICE activities, including international events, conferences, and exhibitions.
Globalization of Businesses: Indian businesses are increasingly going global, which necessitates international meetings, collaborations, and networking opportunities. This drives the demand for outbound MICE tourism.
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Infrastructure Development: The growth of the outbound MICE tourism market is closely tied to the development of infrastructure, including modern convention centers, hotels, and transportation. India has been investing in improving these facilities to attract international events and conferences.
Government Support: The Indian government has been actively promoting tourism and has introduced initiatives to facilitate outbound MICE travel. This includes visa liberalization, simplified regulations, and financial incentives for hosting international conferences in India.
Rising Education and Skill Development: India’s education and skill development sector is booming, and students and professionals are increasingly seeking international exposure through conferences, workshops, and educational events. This drives outbound MICE tourism, particularly in the education sector.
Diverse Business Sectors: India is home to a wide range of industries, including IT, pharmaceuticals, finance, and manufacturing. These industries frequently participate in international trade shows, exhibitions, and conferences, contributing to outbound MICE tourism.
Corporate Incentive Programs: Many Indian companies use outbound MICE
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