70% of employed adults traveled for business in the last year, giving players in the business travel sector – especially the MICE subset – confidence that recovery had arrived. Positive economic conditions in 2024 have put the sector on a growth trajectory. It may still be, but a recently dour outlook on the economy and concerns that the new administration’s plans may result in a downturn are having the knock-on effect of halting or even reversing growth in business travel.
Still, the MICE sector has tools available to increase attendance at events. MICE travelers travel frequently for business and are looking for events that are not only professionally beneficial, but personally memorable. Events hyping a destination through experiences will stick in attendees’ minds, increasing the chance they’ll return for next year’s conference, or as vacationers. An event’s stance on sustainability is also important. Attendees look to events to be sustainable and educate them on how to travel and conduct business more sustainably.
Business travel’s surge also has travel brands paying more attention to these travelers. Established brands are expanding their programs to address demands like effective remote workspaces while on the road, and new players are entering the business travel sector to take advantage of growth.
MICE industry hosts must deliver value-driven hybrid events that prioritize meaningful interactions in the context of learning and growth opportunities.
Mike Gallinari, Senior Travel & Leisure Analyst
For the purposes of this Report, Mintel has used the following definitions:
MICE travel: business travel conducted to attend a group meeting, incentive travel, conference or exhibition.
MICE traveler: An adult employed by a company who has gone on a MICE trip in the last 12 months or anticipates going on a MICE trip in the next 12 months.
Survey respondents were asked about the size of the company they work for given the following definitions:
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