May 21, 2024
Qatar Meetings, Incentives, Conferences and Exhibitions (MICE) Market

Qatar Meetings, Incentives, Conferences and Exhibitions (MICE) Market set to Prosper amid High Government Investments

The Qatar MICE market has been growing at a significant pace owing to heavy investments by the government to develop world-class infrastructure. MICE activities involve organizing and delivering meetings, incentive travel programs, conferences, trade shows and exhibitions with an aim to boost Qatar’s tourism industry. MICE events promote business and leisure travel by facilitating networking opportunities for professionals from diverse industries. Qatar aims to host over 6 million visitors by 2030 under its National Tourism Sector Strategy to diversify the oil-dependent economy.

The Global Qatar MICE Market is estimated to be valued at US$ 1.93 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2030.

Key players operating in the Qatar MICE market are Renault SA, PSA Group, Tata Motors, Changan Automobile, BAIC Motor Corporation, Toyota Motor Corporation, Honda Motor Co., Nissan Motor Co., Volkswagen AG, BMW Group, Daimler AG, Hyundai Motor Company, Fiat Chrysler Automobiles, Mitsubishi Motors, Ford Motor Company, General Motors, Mazda Motor Corporation, Subaru Corporation, Isuzu Motors Ltd, Suzuki Motor Corporation.

Key Takeaways

Key players: Renault SA, PSA Group and Tata Motors dominate the Qatar MICE market owing to thir extensive experience and global network.

Key opportunities: Growing business opportunities for foreign investors in sectors like healthcare, tourism, real estate are attracting large international conferences in Qatar. Rising number of millennials opting for experiential travel is boosting exhibitions and trade shows.

Global expansion: Top MICE players from Europe and Asia are foraying into Qatar to capitalize on lucrative government contracts for organizing mega-events like FIFA World Cup 2022. They are also scouting for acquisition targets to strengthen their presence.

Market drivers: Heavy investments by Qatar government in developing international standards infrastructure like airports, metro networks, hotels is a key growth driver. Favorable business policies and tax exemptions are also attracting global events to Qatar.

The Qatar Meetings, Incentives, Conferences and Exhibitions (MICE) Market Size is estimated to witness high growth owing to heavy government investments in infrastructure development projects. projects. Plans are underway to develop integrated tourism infrastructure clusters to promote MICE activities outside Doha as well. This will help disperse economic benefits across Qatar and achieve the national vision of making tourism a pillar of non-oil growth.

PEST Analysis

Political: Qatar has a stable political environment which helps in organizing various MICE events smoothly without any disturbances. However, political unrest or tensions in the region can negatively impact the Qatar MICE market.

Economic: Strong economic growth in Qatar driven by oil & gas sector revenues helps drive corporate spends on meetings, incentives programs and conferences. However, economic slowdowns can reduce budgets for such activities.

Social: As a developing country, Qatar is witnessing rapid social changes like urbanization, rise of nuclear families etc which is increasing the preference for leisure activities and tourism including participation in exhibitions & events.

Technological: Advanced digital technologies are enabling hybrid/virtual conferences and exhibitions. This is helping engage global audiences while reducing costs. However, over-reliance on virtual models can dampen physical participation in the long run.

The Qatar MICE market is concentrated in Doha region in terms of value due to presence of international airports, hotels, convention centers that support large scale MICE activities. Major corporate offices and government institutions that drive meetings and events are also located in Doha.

The fastest growing region for the Qatar MICE market is Al Wakrah province where international standard venues and infrastructure for MICE industry is being developed. Planned projects include a new convention centre, hotels and recreational facilities that will boost MICE tourism not just from Doha but neighbouring regions as well. With several sporting infra coming up for the upcoming FIFA World Cup, Al Wakrah is expected see rising foreign visitors and therefore meetings/ conference delegates in the coming years.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it