ISRAEL MEETINGS, INCENTIVES, CONFERENCES AND EXHIBITIONS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The Israel Meetings, Incentives, Conferences and Exhibitions Market size is expected to reach US$ 3.05 billion by 2030, from US$ 1.92 billion in 2023, at a CAGR of 6.8% during the forecast period.

The market includes business events like meetings, incentives, conferences, and exhibitions held in Israel. It is a major contributor to the country's economy. Key drivers include the growth of business travel and tourism along with rising demand for virtual events.

The Israel Meetings, Incentives, Conferences and Exhibitions Market is segmented by event type, enterprise size, and industry. By event type, the market is segmented into meetings, incentives, conferences, exhibitions, and others. The meetings segment accounted for the largest share in 2023. Meetings include business meetings, sales meetings, annual general meetings, board meetings, and more. The high growth is attributed to the rising number of corporate meetings and business travels in Israel.

Israel Meetings, Incentives, Conferences and Exhibitions Market Drivers

• Growth of Business Travel and Tourism: The growth of business travel and tourism is a major driver for the Israel MICE industry. Israel has seen steady growth in business travel over the past decade. Many multinational corporations have operations in Israel leading to rising business travel. In 2021, Israel received over 4 million tourist arrivals, reflecting the strong tourism industry. The growth in corporate travel and leisure tourism provides a robust platform for the MICE industry to flourish. The rising influx of business and leisure travelers who attend meetings and events will continue to propel the Israel MICE industry.
• Investments in Infrastructure and Technology: The Israeli government and private sector have made significant investments in developing infrastructure like convention centers, exhibition halls, hotels and transport to position Israel as an attractive MICE destination. Government agencies like the Ministry of Tourism have taken initiatives to promote Israel globally for holding meetings and events. Technological advancements have led to the launch of advanced virtual event platforms which increase the capability to host hybrid events. Such investments and adoption of technology will enable the conducting of large-scale events, hence driving the Israel MICE industry.
• Growing Popularity of Virtual and Hybrid Events: The Covid-19 pandemic has accelerated the adoption of virtual and hybrid events. Many local and international events that were conventionally held in-person shifted online providing greater convenience and outreach. Israel has a vibrant startup ecosystem and technological capability which enabled the smooth conducting of virtual events over the last two years. The popularity of virtual events will continue due to benefits like cost-efficiency, wider reach and environmental sustainability. This creates long-term opportunities for growth of the Israel MICE industry.
• Economic Growth and Foreign Investments: Israel has seen robust economic growth driven by an advanced technology and innovation environment. The country has attracted significant foreign investments in cutting-edge sectors like cybersecurity, enterprise software, AI and biotechnology. Multinational R&D centers and startup incubators have been launched creating substantial corporate activity. The economic prosperity and business friendly policies have been instrumental in Israel's emergence as a regional MICE hub. Sustained economic growth and foreign companies expanding their operations in Israel will drive the demand for corporate events and MICE activities.

Israel Meetings, Incentives, Conferences and Exhibitions Market Opportunities

• Leveraging Israel’s Status as Startup Nation: Israel has earned a global reputation as the Startup Nation due to an unparalleled innovation ecosystem. The country is home to over 6,000 active startups in cutting edge technology domains and registers the highest density of startups in the world. Israel can leverage its status to position itself as a destination for hosting technology and entrepreneurship related events like conferences, hackathons, startup competitions and exhibitions to attract foreign delegations. For instance, events like DLD Tel Aviv Conference, EcoMotion Week and Autotech attract global attendance. Leveraging Israel's startup ecosystem can boost its appeal as an attractive MICE destination.
• Development of New Geographic Locations: While cities like Tel Aviv, Jerusalem and Haifa have established themselves as MICE hubs, there is potential for smaller cities and locations to emerge as venues for hosting events. Places like the Dead Sea, Negev desert and Galilee offer scenic venues for corporate retreats and incentives. Investments to develop convention infrastructure in newer geographic locations can open up opportunities for events that can align with their unique proposition. It will also take some pressure off the established MICE hubs.
• Attracting Events Related to Niche Sectors: Israel has built global leadership in specific niche technology sectors like cybersecurity, defense technology, agriculture technology and medical technology. There is immense scope for Israel to attract international conferences, seminars and exhibitions focused exclusively on these niche sectors where Israel has specialized expertise. Hosting niche sector events can effectively showcase Israel’s capabilities to targeted global audiences and experts.
• Stronger Collaborations with International Associations: Strategic partnerships with relevant international trade associations and organizations provides a platform to attract a regular circuit of events. Israel has recently hosted flagship events of associations like IEEE and FIP. Stronger collaboration with prominent international associations will enable Israel to hold their annual or bi-annual conventions and conferences. These recurring high-profile events will provide stability and boost Israel’s appeal as a preferred MICE destination.

Israel Meetings, Incentives, Conferences and Exhibitions Market Trends

• Hybrid Events Gain Traction: Hybrid events which combine in-person and virtual elements are gaining significant traction worldwide. Hybrid events increase engagement, convenience and outreach. Israel is well poised to leverage its technology capability and infrastructure to seamlessly deliver engaging hybrid events. Leading event management companies are making strategic investments to upgrade digital platforms and provide end-to-end hybrid event solutions which can propel long-term growth.
• Focus on Health, Safety and Hygiene: The Covid-19 pandemic has amplified the importance of health, safety and hygiene protocols at events. Use of masks, rapid testing, contactless experiences, social distancing, improved ventilation and regular sanitization are some measures widely adopted to lower risks at physical events. Event organizers are partnering with health and safety consultants and integrating tech like thermal scanners. The creation of bio-secure environments will provide assurance to attendees and drive the resumption of in-person events.
• Adoption of Data Analytics and Artificial Intelligence: Adoption of data analytics and artificial intelligence is on the rise within the MICE industry. Event platforms are leveraging data like past attendee interactions and purchasing patterns to provide personalized recommendations that improve engagement. AI chatbots provide enhanced customer support and problem resolution. Data analytics provides actionable insights to optimize event operations and experiences. The integration of data and AI will enable hyper-customized and intelligent events.
• Focus on Environmental Sustainability: Corporates and event organizers are increasing their emphasis on environmental sustainability through measures like choosing LEED certified venues, reducing waste, off-setting carbon emissions and preferring reusable decor. Hosting virtual events also reduces the carbon footprint related to travel. Tel Aviv was named a sustainable events city by the Global Destination Sustainability Index. The sustained focus on minimizing environmental impact will attract environmentally conscious attendees and organizations to Israel's MICE market.

Israel Meetings, Incentives, Conferences and Exhibitions Market Restraints

• Security and Political Instability Concerns: Israel has experienced political volatility and security issues connected to the Israeli–Palestinian conflict. This has created periodic confrontations and unrest. Associations and event organizers weigh such potential disruptions while selecting host countries. There have been isolated incidents of certain countries issuing advisories against travel to Israel during periods of tension impacting inbound MICE travel. However, Israel has robust infrastructure and processes to ensure maximum safety of tourists and events. Proactive engagement with stakeholders can mitigate such concerns.
• Lack of Customized Offerings for Niche Events: While Israel has made significant progress in developing its meetings infrastructure, the country lacks event facilities customized for niche sectors compared to mature MICE hubs. For instance, Israel lacks mega convention and exhibition centers to host very large medical, technology or industrial trade events. There is also a shortage of venues suited for major sporting, cultural or entertainment events. Addressing such infrastructure and service capability gaps can help attract a more diverse range of events.
• Limited Direct International Air Connectivity: Though Israel has multiple international airports, it still lacks extensive direct connectivity to many global destinations compared to established MICE hubs in Europe and Middle East. This results in longer journeys and additional visa formalities deterring some first-time travelers. Sustained efforts by government agencies to increase direct flights through bilateral air agreements will boost seamless connectivity and convenience for global travelers.

Recent Developments

New product launches

• In September 2022, Cvent launched the Cvent Attendee Hub to provide enhanced attendee engagement and experiences. The new product simplifies event management for planners and provides personalized experiences for attendees.
• In June 2021, Bizzabo launched the All-in-One Event Success Platform to provide end-to-end solutions for in-person, virtual and hybrid events. The platform integrates features like website builder, agenda builder, virtual venue and more.
• In May 2020, Social27 launched an AI-powered virtual event platform to cater to the rise in virtual events due to the COVID-19 pandemic. The platform provides features like auditoriums, networking lounges, and analytic dashboards.

Acquisition and partnerships

• In October 2022, Cvent acquired Grip to integrate AI-driven corporate meeting analytics and reporting into its platform. This acquisition helped strengthen Cvent's enterprise offerings.
• In April 2021, Bizzabo acquired x.ai, an AI-powered scheduling assistant to integrate automated scheduling and calendar management capabilities into its platform.
• In December 2020, Cvent partnered with the Financial & Insurance Conference Planners to provide innovative event technology and planning services for financial events.

Figure 1. Israel Meetings, Incentives, Conferences and Exhibitions Market Share (%), by Event Type, 2023

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Top companies in Israel Meetings, Incentives, Conferences and Exhibitions Market

• Kenes Group
• RMC
• Kuoni DMC
• ISSTA
• Diesenhaus Unitours
• Talent
• SMG
• BCD Travel
• CWT
• Access Israel

Definition: The Israel Meetings, Incentives, Conferences and Exhibitions (MICE) market refers to the sector in Israel that specializes in planning and executing events like business meetings, corporate incentive trips, large scale conferences, trade exhibitions, product launches and other corporate events. It is an essential part of the country's travel and tourism industry. The MICE market in Israel has witnessed significant growth over the past decade driven by rising business travel and increasing infrastructural investments by the government to promote Israel as a MICE destination. The market acts as an engine for national income and employment generation. It is a highly organized sector with presence of large specialized companies that provide end-to-end planning and execution of corporate events and conferences ranging from venue selection, transport, accommodation, food and decor. The MICE industry plays a key role in attracting foreign tourist expenditure into the country.

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