The MICE market refers to a specialized niche of group tourism dedicated to planning, booking, and facilitating conferences, seminars, and other events, which is a big moneymaker in the travel industry. Meetings, incentives, conferences and exhibitions (MICE) is a type of tourism in which large groups, usually planned well in advance, are brought together. Recently, there has been an industry trend towards using the term meetings industry to avoid confusion from the acronym. The local market segment has been dominated by domestic players like OYO and MMT but they are also moving across borders to attract new clients for them. All is not grey though, the 7th MICE report by MILT Congress said that India is expected to generate well over 2 million outbound MICE and luxury tourists per year by 2020, and Indian can emerge as a key source market for MICE travel. A report by the International Congress and Convention Association (ICCA) stated that India is losing MICE business in tough competition from countries like Australia, Japan, Malaysia, Singapore and Thailand. Get the top MICE abbreviation related to Tourism. Instead, incentive travel is typically given to employees as a reward. They might be able to offer subsidies to attract large events because of the increased revenue the visitors provide through their economic impact on the host location. While meeting and conference travel may sound similar, for instance, the slight differences between them will be important when explaining your needs to your agent. MICE is used to refer to a particular type of tourism in which large groups, usually planned well in advance, are brought together for some particular purpose. Recently there has been an industry trend towards using the term 'meetings industry' to avoid confusion from the acronym. Convention bureaus may offer financial subsidies to attract MICE events to their city. On the other hand, a conference is similar to a meeting in that it is a gathering of people coming together in one place, but conferences usually have specific objectives and exchanges of information. Most components of MICE are well understood, perhaps with the exception of incentives. At an exhibition, products or services are displayed, and they might be the primary focus of the event, which means that exhibition travel agents are those who organize such showcases. The MICE market refers to a specialized niche of group tourism dedicated to planning, booking, and facilitating conferences, seminars, and other events, which is a big moneymaker in the travel industry. MICE is an acronym for meetings, incentives, conferencing, and exhibitions. Cryptic reply on swearing-in ceremony hints at Bihar mystery, India Inc lauds Modi govt's Diwali bonanza, says it will cheer stressed sectors, spur job creation. MICE has now become an integral part of the international travel and hospitality industry. The term "MICE" in the context of travel is an acronym for Meetings, Incentives, Conferences and Exhibitions. Search options; Acronym Meaning; How to Abbreviate; List of Abbreviations; Popular categories; Business; ... Business, Tourism, Travel. Because of the organization and planning involved, typically, years in advance, MICE travel agencies are usually affiliated with large corporations. Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Corporate travellers also opt for MICE tours so as to promote their businesses among their peers and do networking, etc. Get the top MICE abbreviation related to Hospitality. Of the annual events, these are some of the most prominent in the industry around the world: The Complete Gay Travel Guide to North Carolina, How to Travel to Cuba If You Are an American, How Sports Tourism Has Been Impacted by the Pandemic, Best South Korean Tourism Websites for Travel Industry Professionals, Holland America Maasdam - Profile and Photo Tour, How Airline Employees and Their Families Fly Free, How the U.S. Tourism Industry Is Staying Afloat—or Sinking—During COVID-19, What to Do in September in Washington, D.C. (Festivals and Events), How Should I Bring my Spending Money to the UK, 15 Ways and Places to Experience Rural India, Mice: Meetings, Incentives, Conferences, and Exhibitions, Tripsavvy uses cookies to provide you with a great user experience. Tourism MICE abbreviation meaning defined here. Click here to join our channel and stay updated with the latest Biz news and updates.