Macau’s MICE (Meetings, Incentives, Conferences, and Exhibitions) sector witnessed notable growth in the first quarter of 2024, as reported by the Statistics and Census Service (DSEC). Despite a slight dip from the previous quarter, the year-on-year increase in events and receipts showcases a resilient industry.
Overview of Events:
In Q1 2024, Macau hosted a total of 307 MICE events, marking a significant 31.2% surge compared to the same period last year. However, this figure slightly decreased from the 362 events held in the preceding quarter of December 2023. The breakdown includes 289 meetings and conferences, 12 exhibitions, and six incentives, collectively contributing to the non-gaming sector’s receipts amounting to MOP$900 million (US$112 million), representing a remarkable increase of over 50% year-on-year.
Participant Dynamics:
The number of participants in meetings and conferences surged by 39.1% to reach 34,000 individuals. Among these, there were 146 meetings with less than 50 participants and 46 events hosting 200 participants or more, reflecting a substantial growth of 58.6%. Exhibitions, on the other hand, saw a minor increase in the number of events but experienced an 18.3% decline in attendees, totaling 143,000. Notably, exhibitions attracted 979 exhibitors, with nearly 39% being non-locals, and welcomed 4,305 professional visitors, half of whom were non-locals.
Incentives and Participants:
The number of incentive events increased marginally by four compared to the previous year, totaling six events. However, there was a notable drop of 31.5% in the number of participants, which amounted to 1,575 individuals. Despite this decline, the incentive segment remains an integral part of Macau’s MICE landscape.
Focus Areas:
DSEC’s data indicates that a significant portion of MICE events in Q1 2024 were centered on various themes. “Commerce & Management” emerged as the leading focus, with 127 events, followed by 39 events on Finance, 36 on Information Technology, and 26 on Medical & Health. This diversification reflects Macau’s growing prowess in catering to a wide array of industries through its MICE offerings.
Macau’s MICE sector continues to demonstrate resilience and growth, as evidenced by the substantial increase in events and receipts in the first quarter of 2024. Despite minor fluctuations in event numbers and attendee figures, the overall trajectory remains positive. The data underscores Macau’s status as a premier destination for hosting diverse MICE activities across various industries, promising continued prosperity for the sector in the foreseeable future.