Events surge 30% y-o-y as revenue hits MOP4.48b

The number of MICE events in the city surged by 29.8% year-on-year, reaching 1,011 in the first three quarters of 2024.

According to the Statistics and Census Service (DSEC), the figure represents 94% of the total from the same period in 2019.

MICE-driven revenue for non-gaming industries was estimated at approximately MOP4.48 billion, reflecting a 5.4% increase from 2023.

In total, 943 meetings and conferences were held, marking a 30.2% rise with participant numbers growing by 12.7% to 136,000. However, exhibitions saw a decline, totaling 40 with attendance dropping by 21.7% to 856,000. Notably, non-local exhibitors and professional visitors accounted for over half of the attendees.

The third quarter alone recorded 300 MICE events, up by 16.7%, but overall attendance decreased by 4.8%. Revenue for this quarter was about MOP2.02 billion, down 17.3% from the previous year but up significantly from the second quarter.

Most events focused on “Commerce & Management,” comprising 40.5% of the total, while sectors like “Information Technology” and “Tourism” each represented 10.7%.

The Macau government aimed to host approximately 1,500 MICE events in 2024, representing a 50% increase from the previous year. This target translates to an average of 125 events per month. LV