Post by Blitz on Aug 20, 2024 7:54:00 GMT -5
MICE sector nears pre-pandemic levels
- Tuesday, August 20, 2024 - 12 hours ago No Comments 1,015 Views
macaudailytimes.com.mo/mice-sector-nears-pre-pandemic-levels.html
Macau’s meetings, incentives, conventions, and exhibitions (MICE) sector is rebounding strongly, with a 30% increase in events during the first half of 2024 compared to the previous year. The Statistics and Census Service (DSEC) reported that Macau hosted 702 MICE events from January to June, just 32 events short of the same period in 2019, indicating a remarkable 96% recovery from pre-pandemic levels.
The MICE sector generated approximately MOP2.47 billion in non-gaming revenue, reflecting a 35.8% increase from the first half of 2023 (MOP1.82 billion). Delegates attending these events spent an average of MOP4,992 each, more than double the average spending of leisure tourists, who spent around MOP2,260.
Looking ahead, the momentum in MICE activities is expected to continue into the second half of the year, which is traditionally the peak season for the industry. An estimated 1,500 events are planned for 2024. Notably, over 70% of the events in the first half of the year focused on trade and management, tourism, information technology, and finance, aligning with the government’s strategy for economic diversification.
While overall attendance dropped by 30% year-on-year, the number of exhibitors and trade visitors saw significant increases—nearly 40% and 80% respectively. This surge indicates growing interest from international participants, further enhancing Macau’s reputation as a premier destination for global events.
Nadia Shaw
- Tuesday, August 20, 2024 - 12 hours ago No Comments 1,015 Views
macaudailytimes.com.mo/mice-sector-nears-pre-pandemic-levels.html
Macau’s meetings, incentives, conventions, and exhibitions (MICE) sector is rebounding strongly, with a 30% increase in events during the first half of 2024 compared to the previous year. The Statistics and Census Service (DSEC) reported that Macau hosted 702 MICE events from January to June, just 32 events short of the same period in 2019, indicating a remarkable 96% recovery from pre-pandemic levels.
The MICE sector generated approximately MOP2.47 billion in non-gaming revenue, reflecting a 35.8% increase from the first half of 2023 (MOP1.82 billion). Delegates attending these events spent an average of MOP4,992 each, more than double the average spending of leisure tourists, who spent around MOP2,260.
Looking ahead, the momentum in MICE activities is expected to continue into the second half of the year, which is traditionally the peak season for the industry. An estimated 1,500 events are planned for 2024. Notably, over 70% of the events in the first half of the year focused on trade and management, tourism, information technology, and finance, aligning with the government’s strategy for economic diversification.
While overall attendance dropped by 30% year-on-year, the number of exhibitors and trade visitors saw significant increases—nearly 40% and 80% respectively. This surge indicates growing interest from international participants, further enhancing Macau’s reputation as a premier destination for global events.
Nadia Shaw