Saudi Arabia MICE Market to Reach USD 4.6B Driven by Sports Events

RIYADH, Saudi Arabia - Feb. 27, 2025 - PRLog -- The Saudi Arabia MICE (Meetings, Incentives, Conferences, and Exhibitions) market is set for significant growth, with an estimated valuation of USD 2.6 billion in 2024, projected to reach approximately USD 4.6 billion by 2030. The market is expected to grow at a robust CAGR of around 11% during the forecast period from 2025 to 2030. Driven by the Kingdom's Vision 2030 strategy aimed at economic diversification and extensive investments in tourism infrastructure, the MICE sector is becoming increasingly attractive for global businesses and events, positioning Saudi Arabia as a premier destination for international business gatherings.

Saudi Arabia MICE Market Forecast:

• Projected growth from USD 2.6 billion in 2024 to USD 4.6 billion by 2030.
• Anticipated CAGR of approximately 11% during the 2025-2030 period.
• Over 17,000 events hosted in Saudi Arabia in 2023, drawing more than 20 million visitors.
• Key contributors include sports events, international conferences, and cultural exhibitions.
• Expected influx of 40.7 million visitors during the World Expo 2030.

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Key Driver

The primary driver of the Saudi Arabia MICE market is the growing number of sports events, which attract significant domestic and international audiences. The government has prioritized hosting high-profile events such as the Formula E, WWE Super Showdown, and the Dakar Rally, leading to increased demand for enhanced transportation, hospitality, and event management services. These initiatives not only bolster tourism but also facilitate networking opportunities, thereby stimulating the MICE sector's growth.

Report Key Takeaways

The Saudi Arabia MICE market showcases robust opportunities for growth driven by government initiatives, enhanced infrastructure, and increased international participation. Companies willing to invest in this sector can leverage the anticipated increase in domestic and international events, positioning themselves advantageously in a competitive landscape.

Key Companies Operating in the Saudi Arabia MICE Market

• Sela
• Benchmark
• HEIGHTS Company
• DICE Marketing and Advertising
• The Gathering KSA
• Eye of Riyadh
• Luxury KSA &
• Others

Industry Segmentation Analysis

The MICE market in Saudi Arabia is segmented by event type—Meetings, Incentives, Conferences, and Exhibitions—and by revenue sources including Tickets & Registration Fees, Accommodation, Food & Beverage, and Sponsorships. Meetings currently hold a 35% market share due to the increasing demand for corporate collaboration and knowledge exchange.

Questions for Further Exploration

1. What strategies can MICE organizers adopt to compete with regional hubs like Dubai?
2. How does the easing of visa policies impact the MICE industry in Saudi Arabia?
3. What infrastructure developments are top priorities for enhancing the MICE experience?
4. How is the growth of domestic tourism expected to influence MICE events?
5. In what ways are cultural events integrated into the MICE offerings in Saudi Arabia?

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