UAE Is The Middle East's MICE Tourism Leader With 50% Market Share, Worth An Estimated USD 5.62 Billion In 2024
Market trends and research findings reveal that the MENA events market is all set to reach an impressive US $76.67 billion by 2028. Resurging from post-pandemic gloom to boom, the industry has now resumed its catalytic role in economic and cultural transformation. With the MENA region playing host to global mega events such as the Expo2020, Formula 1, FIFA World Cup and MDLBEAST Soundstorm, the industry has got a boost from the region’s accelerating growth in tourism, jobs and infrastructure development.
Upon conducting the successful Middle East Event Show (MEES) in Q2 with an extraordinary showcase of innovation, sustainability and collaboration, the events industry gathered at the Souk Madinat to celebrate the successes and recognition of world-class events, marking the growth of the industry. The entire community of events industry professionals will gather once again in Riyadh this week for two days of limitless knowledge sharing, networking and long-term business connections.
The Saudi Event Show (SES) will take place at the Mandarin Oriential Al Faisaliah Hotel in Riyadh from 11 – 12 September 2024, bringing together 4500 industry professionals, featuring 100+ exhibitors and 60 world-class leasing speakers in 30 interactive seminars. Meanwhile, the next edition of MEES will return to Dubai from 18 – 19 June 2025.
The MICE (Meetings, Incentives, Conferences, and Exhibitions) sector in the Gulf region has seen significant growth in recent years, with the UAE leading the way, holding a 50% share of the region's total MICE market, according to analysts Mordor Intelligence. Mordor estimates the country’s MICE Tourism market at USD 5.62 billion in 2024, which it expects to grow at a CAGR of 8.83% to reach USD 8.58 billion by 2029.
Much of this can be attributed to Dubai’s role as a MICE powerhouse, given its reputation for high-end tourism and world-class event infrastructure.
In the wider region, countries such as Qatar and Saudi Arabia have established themselves as prominent players, with the latter especially witnessing a MICE boom corresponding to its ongoing transformation into a world-class economy. Mordor estimates that Saudi Arabia’s events industry will grow at an annual CAGR of 9.49% from USD 2.38 billion in 2024 to USD 3.45 billion in 2029. Saudi cities of Riyadh, Jeddah and Dammam are emerging as major players with world-class amenities, and along with the established MICE hubs of Dubai and Doha, are turning the Middle East into one of the prime growth areas for the MICE sector worldwide.
“SES 2024 is a highly popular venue for events industry professionals from all over the GCC, from organisers, entertainment professionals, creative specialists and operations experts to event technology and solution providers, regulators and other stakeholders. It offers them a unique chance to meet and shape the future of the events industry in the Middle East and beyond. Indeed, we are inviting delegates to not just attend—but to be a part of the story,” said Amar Daginawala, Exhibition Director of Saudi Event Show.
