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| Global Israel Meetings, Incentives, Conferences and Exhibitions Market Growth |
The Israel meetings, incentives, conferences and exhibitions (MICE) market is a
sub-sector of the meetings industry that involves planning and executing
professional events such as conferences, trade shows and other types of events
that bring together large groups of people for networking or educational
purposes. Israel has emerged as a favored MICE destination owing to its rich
historical and religious heritage sites, diverse landscapes and cutting-edge
infrastructure. The country offers international standard venues and
accommodation facilities to organize exhibitions, meetings and incentive tours.
Many large events are hosted in cities such as Jerusalem, Tel Aviv and Eilat
annually. The rising number of business parks, convention centers and luxury
hotels are well-equipped to cater to the needs of both domestic and
international event organizers.
The Global Israel MICE Market is estimated to be valued at US$ 2.22 Bn in 2024 and is
expected to exhibit a CAGR of 7.9% over
the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global
Israel Meetings, Incentives, Conferences and Exhibitions Market Growth are
Stryker Corporation, SATELEC (Actongroup), Surgiform Innovative Surgical
Products, Allergan (Abbvie) Luminera, Implantech, Koken, ANTHONY PRODUCTS INC.,
NOUVAG, Sihuan Pharmaceutical Holdings Group Ltd., and Other prominent players.
These players are focusing on new product launches and collaboration strategies
to expand their market share.
The key opportunities in the Israel MICE market include large international
events hosted by Israel annually that attract thousands of domestic and foreign
attendees. Major business conventions and exhibitions are organized by industry
bodies in sectors such as information technology, agriculture, healthcare and
tourism.
Israel's strategic location between Europe, Asia and Africa has enabled it to
emerge as a hub for global events. Many international associations are choosing
Israel as the destination for their global conferences. The government is
taking initiatives to promote the country's MICE sector through global
marketing campaigns. The growing flight connectivity with other regions is also
encouraging overseas event organizers to host their roadshows, summits and
product launches in Israel.
Market Drivers
Growing tourism industry in Israel: The number of foreign tourist arrivals in
Israel has increased manifold over the past decade. This has augmented the
demand for meetings, incentives and events in the country. Favorable government
policies are promoting tourism as a key economic sector.
Market Restraints
Regional political instability and security threats: Occasional border tensions
with neighboring countries and security challenges have deterred some event
organizers and attendees from choosing Israel as a MICE destination. However,
the government is taking necessary measures to ensure safety of visitors.
Segment Analysis
The Israel Meetings, Incentives, Conferences and Exhibitions market is
dominated by the meetings sub segment. This sub segment attracts the largest
revenues as businesses rely on face-to-face interaction and networking
opportunities provided by meetings to discuss business strategies, new product
launches, sales targets etc. despite the rise of video conferencing
technologies. Meetings allow executives to bond, read body languages and build
trust in a way virtual interactions cannot replicate fully. The exhibitions sub
segment is growing steadily due to rising sponsorships from corporates and
governments to promote their brands and policies to global audiences.
Exhibitions hosted around themes such as technology, healthcare and
sustainability attract large visitor numbers annually.
Global Analysis
The North American region leads the Israel Meetings, Incentives, Conferences
and Exhibitions market with over 35% share driven by countries such as the US
and Canada that host many large scale events every year. These countries also
have a robust conference infrastructure and skilled local event management
companies. However, the Asia Pacific region is expanding the fastest due to
rising disposable incomes, growing tourism industries and business investments
in countries such as China, India and Thailand. Many international conferences
are moving their venues to the Asia Pacific due to its strategic location
between west and east and availability of state of art facilities. Government
support through funding and policies also aid industry growth across Asian
nations.
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Meetings, Incentives, Conferences And Exhibitions Market