The Meetings, Incentives, Conferences and Exhibitions (MICE) industry in the US has been growing steadily over the past few decades. MICE events provide significant economic and social benefits to the host destinations across the country.
Economic Impact of MICE Tourism
MICE events are a major driver of the US tourism industry. According to the Events Industry Council, business events like conferences, trade shows and corporate meetings generated over $115 billion in direct spending in 2018. This spending supported over 1.1 million jobs nationwide. Let’s take a deeper look at some key aspects of the thriving the U.S. Meetings, Incentives, Conferences and Exhibitions Market.
Various studies have shown that MICE delegates on average spend more per trip than leisure travellers. They also stay longer at their destination. This translates into higher economic multipliers from MICE tourism. The indirect and induced impacts of business events are estimated to support over 2 million jobs in the US.
State and local governments also earn substantial tax revenues from MICE activities. Tax receipts from business events were estimated at over $15 billion in 2018. This funds valuable public services and infrastructure development across different states and cities.
Popular MICE Destinations
Certain US cities have emerged as popular MICE hubs given their world-class convention facilities, entertainment options, and ease of access. Las Vegas, Orlando, Chicago and New York are some of the top MICE destinations in the country.
Las Vegas hosts over 21,000 events and attracts over 6 million convention attendees every year. The city’s dedicated convention infrastructure and wide availability of hotels and amenities make it an in-demand venue.
Orlando has also seen tremendous MICE growth, driven by proximity to major theme parks. It attracts over 1.6 million convention visitors annually with compact facilities located near attractions.
Chicago boasts one of the largest convention floor spaces in North America. Along with its central location and cultural diversity, this augments its appeal for large-scale exhibitions and conferences.
New York remains a favored spot for strategy meetings, given its status as a global financial hub. Iconic venues like the Javits Center further strengthen the city’s magnetism.
Association Meetings on the Rise
Association meetings represent a sizable portion of total MICE business in the US. In fact, meetings of professional and trade associations account for nearly 30% of all convention and conference attendees annually.
Many industry-focused associations prefer rotating their events across major US cities on a fixed cycle. This provides destination marketing organizations consistent opportunities to bid for high-value regional and national conferences.
Associations are also innovating formats to attract younger members. Digital components, wellness programming, unique social activities and extended family offerings aim to broaden appeal beyond traditional professional conferences. Forward-thinking meeting planners recognize these trends.
Sustainability and MICE
Sustainability has become a prominent criterion for selecting Meetings, Incentives, Conferences and Exhibitions venues, particularly amongst younger delegates and association executives. Destinations actively promote their green credentials and event certification programs.
Leaders like Boston, San Francisco and Seattle highlight their commitment to reducing environmental impact and promoting transportation alternatives at conventions. Hotels compete on sustainability initiatives like waste diversion, energy efficiency and responsible sourcing too.
Overall, addressing sustainability in a transparent manner strengthens a destination’s competitive positioning in the long run. It also aligns with patrons’ evolving preferences for socially responsible suppliers and partners.
Market Outlook
The U.S. Meetings, Incentives, Conferences and Exhibitions Market continues to rapidly evolve and innovate driven by changing trends. While the COVID-19 pandemic impacted the sector significantly in the short term, the long-term outlook remains positive. Research shows the MICE market has historically demonstrated strong recovery patterns post such disruptions.
As vaccination rates rise and travel restrictions ease, the sector is rebounding with hybrid events gaining widespread acceptance. Continued growth is expected across North America driven by factors like pent-up demand, expansion of association markets globally and wider acceptance of virtual participation models. For more market details, refer to Coherent Market Insights studies.
The U.S. Meetings, Incentives, Conferences and Exhibitions sector will likely play a strategic long-term role in American tourism given high average visitor yields. Key destination cities are investing in product upgrades and leveraging multi-city bids to maximize economic gains in the coming years.
