Saudi Arabia Meetings, Incentives, Conferences and Exhibitions (MICE) Market is driven by growing events industry
Key players operating in the Saudi Arabia Meetings, Incentives, Conferences and Exhibitions (MICE) Market Size are VRB Energy, H2 Inc., ESS Tech Inc., Stryten Energy, Vanadis Power GmbH, CellCube Energy Storage Systems Inc., Primus Power Corporation, Dalian Rongke Power Co. Ltd., RedFlow Ltd., and Invinity Energy Systems PLC. The major players are focusing on expanding their footprint and service offerings in the market through strategic collaborations with event organizers and venue operators. For instance, in 2022, ESS tech partnered with Helios Green Projects PBC to deploy its long-duration energy storage technology to support the increased power needs of future MICE events and building operations in Saudi Arabia.
With a strategic focus to promote domestic tourism and events, Tier 2 cities in Saudi Arabia offer strong potential as the fastest growing regions for the MICE sector. Al-Qassim located in the central region has experienced rapid infrastructure growth, making it an attractive low cost meetings destination. Hail in the northern region is leveraging its heritage sites and cultural festivals to host specialized niche conventions. Though starting from a smaller base currently, Jazan in the southern coastal province is projected to witness over 10% annual growth in its MICE business supported by expanding tourism projects along the Red Sea coast. If adequate meeting infrastructure gets developed, these emerging centers could broaden the geographical footprint of the Saudi Arabia MICE industry beyond major cities in the coming years.
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