Caribbean MICE Market : Emerging Economies Expected to Influence Growth until 2026

20/nov/2019 10:18:09 Allied Market Research Contatta l'autore

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The term MICE is an acronym for Meetings, Incentives, Conventions and Exhibitions in the context of the tourism segment. This market refers to a functional niche of group tourism committed to planning, booking, and facilitating meetings, seminar, and conferences. However, in the recent past the acronym has slowly been falling out of favor and is instead referred to as meetings industry or events industry in tourism. MICE travel agencies are generally affiliated with large corporations owing to planning as well as organization involved in the process.

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The Caribbean region is recognized internationally for its picturesque tourism sector. The superb climate, its natural attributes, high standard of luxury accommodation, and range of extra-curricular activities make it a truly world-class MICE tourism destination. This factor is a major driver for the Caribbean MICE market. With a rise in the presence of corporate industries all around the globe, the prevalence of business activities such as client meetings, brand promotions, employee training activities, and liberalization of market entry to increase foreign direct investment further drive the market.

However, uncertain global geopolitical conditions and high operational cost linked with MICE events can restrain the growth of the market. On the contrary, rapid advancements in technology and infrastructural investments can provide numerous opportunities for the emerging players in the MICE industry in Caribbean.

The market is segmented based on event type and country. Based on event type, it is classified into meetings, incentives, conventions, and exhibitions. Based on country, it is bifurcated into Barbados mice industry, Puerto Rico mice industry, Cuba mice industry, Bahamas mice industry, Dominican Republic mice industry, and rest of Caribbean mice industry.

KEY BENEFITS FOR STAKEHOLDERS

·         This report provides an extensive analysis of the current and emerging trends and dynamics in the Caribbean MICE market.
·         In-depth analysis is done by constructing market estimations for the key market segments to identify the prevailing market opportunities.
·         This study evaluates the competitive landscape and value chain to understand the competitive environment across the geographies.
·         A comprehensive analysis of the factors that drive and restrict the market growth is provided.
·         A comprehensive analysis of the region is provided to determine the prevailing opportunities in these geographies.

Major Players: Destination Barbados And Barbados Tourism Marketing, Inc, Cvent Inc, Hilton Barbados Resort, Barbados Conference Services Limited, The Lloyd Erskine Sandiford Centre, Rodjmon Holdings Incorporated, Field Staging Solutions Inc., Solways Cuba, Atlantis, and Pearl Island Bahamas.

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