As a sector that encompasses multiple industrial chains, MICE activities in the first half of the year generated approximately MOP 2.47 billion in non-gaming revenue for Macao.
According to data from the Statistics and Census Service, Macao hosted a total of 702 convention and exhibition events in the first half of 2024. This figure has nearly returned to the level of the same period in 2019, and the professionalism and internationalisation of the events have further increased, reflecting the continuous acceleration of Macao’s convention and exhibition (MICE) industry. The second half of the year (especially from September to November) will enter the traditional peak season for the MICE industry, and it is expected that the number of events will further increase, with an estimated 1,500 events to be held in Macao throughout 2024.
In addition, the average spending of MICE-related business visitors in the first half of 2024 was MOP 4,992, which is double the MOP 2,260 average spending of tourists visiting Macao during the same period.
As a sector that encompasses multiple industrial chains, MICE activities in the first half of the year generated approximately MOP 2.47 billion in non-gaming revenue for Macao, an increase of over 30% compared to the same period last year. This has stimulated consumption in areas such as food, accommodation, transportation, entertainment, shopping, and tourism, creating a strong industrial ecological chain. At the same time, the Commerce and Investment Promotion Institute (IPIM) continues to encourage business visitors to explore and spend in various communities across Macao, expanding MICE activities’ impact on boosting consumption in local community.
Clear Trends in the Professionalisation and Industrialisation of Macao’s MICE Industry
In the first half of 2024, over 70% of convention and exhibition events were themed around "Trade and Management", "Tourism", "Information Technology", and "Finance", aligning with the SAR government's "1+4" strategy for appropriately diversified economic development. Although the number of attendees at exhibitions decreased by about 30% year-on-year, the number of exhibitors and trade visitors rose by nearly 40% and 80%, respectively, with a significant increase in the proportion of attendees from abroad. This reflects the gradual transition of Macao's MICE industry from mass-market to professional and international standards.
To further advance the international, market-oriented, professional, digital, and eco-friendly development of Macao's MICE industry, IPIM is inviting and encouraging more regional and international conferences in specialised fields. IPIM have invited 24 key industry leaders and academic experts to serve as "Macao Conference Ambassadors". Additionally, they are forming an "Exhibition Bidding Support Working Group" with local industry associations and six major integrated resorts to leverage industry influence, attract more international professional events, and provide "One-stop Services” for MICE Bidding and Support, ensuring smooth organisation of events in Macao. They are also participating in domestic and international exhibitions under the "MICE² Macao x Hengqin" brand, promoting the implementation of the "Multi-venue event" approach.
Fostering the Development of MICE Industry to Achieve Appropriate Economic Diversification
In the second half of the year, IPIM will continue to promote the MICE industry’s development, by means including cultivating talent, supporting local industry associations in partnership with international organisations such as the International Congress and Convention Association (ICCA) and the Global Association of the Exhibition Industry (UFI) to offer international certification courses. IPIM will also enhance the organisation of MICE events, attract more activities to be held in Macao, and promote the development of peripheral industries such as dining, accommodation, transportation, and retail. This will help reinforce the MICE industry's role as a crucial node in the "1+4" economic diversification strategy, facilitating the flow of people, goods, capital, and information, while inspiring innovative thinking and driving industrial upgrades.
