by Emergence of India Meetings, Incentives, Conferences and Exhibitions Market destination
Over the past decade, India has emerged as one of the most popular MICE destinations in Asia. Several factors have contributed to this growth including a large talent pool, diverse destinations with different offerings, investment in infrastructure and government support for the industry.
India Meetings, Incentives, Conferences and Exhibitions Market offers a wide range of meeting venues across large cities like Delhi, Mumbai, Bengaluru as well as smaller towns and destinations. World-class convention centers, luxury hotels, resorts and unique venues catering to small, medium and large events have come up across the country. This wide choice of venues allows India to host events of all types and sizes. Additionally, domestic and international flight connectivity between major cities and destinations in India has improved significantly, making multicity programs easier to organize.
Significant investments in infrastructure
Both central and state governments in India have acknowledged the revenue potential of the MICE industry. As a result, massive investments have been made to develop world-class infrastructure for the sector. For example, projects like expansion of convention centers, development of integrated projects and upgraded connectivity have received government support. The central government also promotes India as a MICE destination abroad through tourism offices.
Some states like Rajasthan and Goa have emerged as popular MICE spots. They offer unique destinations beyond metro cities and have invested aggressively in infrastructure development. This includes aspects like venues, hotels, local connectivity and skill development. PPP models have also been used to attract private investments in the sector.
Home to a large skilled workforce
India has a huge talent pool skilled in various aspects of hosting events. This includes wedding planners, event managers, hospitality professionals, technicians and more. The country produces over two million graduates and diploma holders annually in hospitality, travel and tourism streams alone.
Several private hospitality and events management institutes provide hands-on training. Large international hotel brands also train local staff as per global standards. This ensures a steady supply of skilled and affordable manpower to service the diverse needs of MICE clients. Language skills, especially proficiency in English, further support India’s appeal as a destination for global events.
Cost competitiveness and diversified offerings
On one hand, India offers world-class infrastructure, staff and technology solutions required for large international events. On the other hand, it also maintains significant price competitiveness compared to more developed MICE markets. Operating costs like venue rentals, hotel rooms, local travel and talent are substantially lower in India.
Moreover, India’s diversity allows it to cater to varying interests and budgets. From luxurious experiences in five-star resorts to heritage stays in palaces, India offers a wide variety of unique venues and experiences. Event organizers can curate niche programs exploring local arts, traditions, cuisine etc. This gives India an edge over more standardized MICE destinations.
A trillion-dollar opportunities by 2028
All the above factors have enabled India to rapidly grow its share in the global as well as regional MICE markets. Industry reports forecast the India MICE market to be worth over $10 billion by 2028. The total economic impact on related sectors is estimated at over $130 billion per year. Job opportunities are also expected to rise substantially, supported by the skilling initiatives already underway.
India is well-positioned to leverage its demographic dividend and leverage the growing MICE industry for increased tourism revenues and employment over the next decade. Sustained investments and policy interventions will help maximize this potential.
