MICE industry making major strides this year: Gov’t

The recent “Global Exhibitions Day” event held in Macau focused on promoting industry progress, economic growth, sustainable development and exchanges.

The event reviewed the achievements of Macau’s MICE (Meetings, Incentives, Conventions, and Exhibitions) industry in recent years.

Synthia Chan, from the Macau Fair & Trade Association was elected as the vice chairman of the Global Association of the Exhibition Industry (UFI) in 2023. Further solidifying Macau’s position as a key player in the region’s MICE landscape.

The start of 2023 marked the beginning of the new 10-year gaming concession contracts for the six casino operators in Macau. As part of the deal, the operators agreed to significantly expand their non-gaming offerings and help Macau diversify its economy away from gaming.

Throughout 2023, Macau hosted a wide range of events and attractions to fulfill this mandate. The city saw a surge in live entertainment, with 180 pop concerts over the course of the year. Macau also emerged as a premier destination for MICE events, hosting over 1,000 gatherings in 2023.

In the first quarter of 2024, Macau hosted 307 conventions and exhibitions, representing a year-on-year increase of 31.2%.

The amount of overseas exhibitors and professional visitors increased significantly by 32.2% and 39.5% respectively, compared to the same period in 2023. These events led to about MOP900 million in non-gaming revenue, an increase of over 50% from the same period in 2023.

The per capita consumption of MICE business visitors in the first quarter was MOP5,148, a year-on-year increase of 18.2%, more than twice the per capita consumption of general visitors (MOP 2,293). This demonstrated the MICE industry can drive the regular development in other related industries and is an important driving force in promoting the diversified development of Macau’s economy.

The city’s MICE industry has made major strides, investing in non-gaming amenities and events. The casino operators are helping to broaden Macau’s appeal and reduce its reliance on gaming revenue.

The government plans to hold 1,500 MICE events this year. Nadia Shaw