Mice Business Opportunities in Hospitality: What is MICE?

When you’re involved in the hospitality industry, you’ve probably heard the term ‘MICE’ and found yourself asking, “what is MICE?”. In this article, we go over what is MICE, what MICE stands for, and all you need to know about it.

What is MICE?

MICE is an acronym that stands for Meetings, Incentives, Conferences and Exhibitions. Over the years, people have begun to refer to it as the ‘meetings industry’ or ‘events industry’ as that’s what it encompasses. It is a creative event management industry. When set-up intentionally in a hospitality space, it can generate over 50% of a property’s revenue. It makes up a large part of global business as every industry tends to hold regular events of some kind. Its key focus is to bring professionals together so that they can network and foster connections, as well as promote new ideas that will push business growth. 

Leading MICE Companies 

According to Precedence Research, the global MICE business has a market size of $998.59 billion in 2024, with expectations for it to reach about $1986.01 billion by 2024. It’s developing at a swift rate with the importance society places on face-to-face interactions to propel business success and foster collaboration. Innovation in how events are held only prove to enhance the appeal of MICE business as the years go on, with creative and engaging formats drawing in a larger, more diverse crowd and making meetings, incentives, conferences and exhibitions more accessible. The energetic evolution of MICE events and their format ensures that this industry remains relevant and indispensable, attracting a broad audience that seeks impactful experiences with others. 

Let’s have a look at some of the top players in the MICE industry, spearheading its success in Europe, North America, and Thailand.

H3: IMC International

An Austrian company, IMC International has been a leading MICE organizer since 2008. They specialize in meetings, incentive, congress or events in Central Europe. Providing unyielding support in 6 languages, this MICE business has a diverse portfolio of over one-thousand successfully executed projects and a stellar reputation for having a great network for their service partners and clients. They have effectively served many luxurious brands, from Audi, BMW, Porsche, and many more. They are the top company to come across when learning what is MICE and the top MICE business to learn from in the industry.

H3: CSI DMC

Nearly four decades since its founding, CSI DMC is known globally for being a trusted hospitality and MICE business partner that specializes in destination and event management. Providing memorable destination experiences through exceptional event planning and innovative thinking, they are a stunning all-arounder when it comes to their services. They provide an array of support from décor and entertainment, culinary experiences, team building, organized tours and engaging activities, transportation, staffing, and more. They have won countless awards for their consistent dedication and success as a huge contributor to the MICE industry in North America.

H3: Thailand Convention & Exhibition Bureau (TCEB)

Founded by royal decree in 2002, the Thailand Convention & Exhibition Bureau (TCEB) is a government agency dedicated to boosting business tourism in Thailand. Since 2004, TCEB has positioned Thailand as Asia’s leading hub for business events by offering strong support for MICE programs. Today, TCEB aligns with the government’s ‘Thailand 4.0’ economic policy, focusing on 10 key industries to meet global trends and prepare for the future. When it comes to Thailand, TCEB is your trusted partner for all business events in MICE.

How To Prepare Yourself for A Career in MICE

The best way to prepare yourself for a future in the MICE business is to be knowledgeable in the facets of hospitality they are involved in. The Bachelor of Arts in International Hospitality Management from Swiss Hotel Management School (SHMS) is a fantastic place to start. A 3-year, full-time program, this hospitality course not only arms you with a robust foundation in the operational and managerial aspects of hospitality, but also lets you choose a specialization to focus on. The Event Management specialization from this program is of particular interest to those who want a career in this field. It covers MICE and Logistics, Hospitality Economics, Event Experience Creation, Event Experience Management, and more. By pursuing this course, you’ll also graduate with a double degree, further bolstering your chances for career success as you will conclude your studies with a Bachelor in your chosen specialization from Swiss Hotel Management School and a Bachelor of Arts from the University of Derby in England, United Kingdom.

If you’re interested in learning more about how our hospitality school can prepare you for a fulfilling career in the MICE industry, reach out to us by calling 02-652-1481 or adding us on Line @swisseducation to chat with us directly.

Frequently Asked Questions

Q: What are the specializations you can choose in the Bachelor of Arts in International Hospitality Management program?

A: Hospitality Management, Event Management, Design Management

Q: How does Swiss Hotel Management School rank worldwide?

A: Swiss Hotel Management School ranks #2 in the world for hospitality education. They are also #3 best school for employer reputation and 4^th best school for academic reputation.