MICE tourism sector valued at $3.2 trillion, rivaling the world’s 16th‑largest economy

A new Oxford Economics study for the Events Industry Council estimates that the global meetings, incentives, conventions and exhibitions (MICE) sector generated about $3.2 trillion in total economic activity in 2025. Direct spending reached $1.3 trillion and the sector added roughly $1.8 trillion to worldwide GDP, supporting 24.2 million jobs and involving around 1.65 billion participants across more than 180 countries. The analysis equates the MICE sector to the 16th‑largest national economy if treated as a country.

The Spanish Association of Incentive Agencies (I de MICE) cites the same data, with its president Iñaki Collado stressing that MICE is a strategic economic driver that creates high‑value travel, investment and knowledge exchange. The sector’s recovery is evident: hotel group bookings have returned to 97 % of pre‑pandemic levels and request‑for‑proposal activity reached 102 % of 2019 levels. Oxford Economics projects direct spend could rise to $1.6 trillion by 2028.