China Outbound MICE Tourism to US Market

China Outbound MICE Tourism to US Market Outlook

As per the latest findings of Future Market Insights, China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism to US Market revenue is expected to be USD 32,526.6 Million by the end of 2023. In the long-term, market is estimated to reach at around USD 112,383.6 Million in 2033.

Attribute	Details
Travel Gross Revenue (2023)	USD 32,526.6 Million
Projected Market Size (2033)	USD 112,383.6 Million
Value CAGR (2023 to 2033)	13.2%
China MICE Tourism to US Market Top Players Share in 2022	5% to 10%

2018 to 2022 China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism to US Market Outlook Compared to 2023 to 2033 Forecast

According to UNWTO, China ranked the 4th place in the world with 57 million outbound tourists staying overnight in the foreign destination, followed by France, USA and Spain. Over 60% of oversea tourists in China were from Asian countries, over 20% from European countries and over 10% from American countries. Korean, Japanese and American tourists accounted for the majority of inbound tourists.

Additionally, given the high turnover rates, which can make language tuition useless if a person decides to change jobs after a few months, present methods of educating workers are inefficient and expensive. The typical waiter's employment period is three months, and many young people nowadays have inflated expectations about wages and working conditions. They are really difficult to work with, let alone persuade them to pick up a second language on the side.

What are the Driving Factors Boosting the China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism to US Market?

Rising Demand from China's Middle Class and High Net worth Individuals Boosting US MICE Market

Sustainability is one of the main things that businesses take into consideration. Any event that is unsustainable or disregards the individuals participating in it is a no-no in today's world. The way that consumers view businesses has become more influenced by ethical behaviour and a sustainable viewpoint. Another is authenticity, where customers seek genuine, sincere experiences for both leisure and work-related reasons. The rising worries about mental health have led the MICE sector to embrace the idea of well-being as well. These elements are now fundamental to the MICE market, which provides businesses with a stage to demonstrate their dedication to current and potential consumers.

What are the Key Trends Boosting the China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism to US Market?

Digital Innovations, Personalized Services, and High-end Luxury Experiences Driving China's MICE Market to the USA

The demand for the MICE sector is being driven by elements like increased employee engagement and an increase in business travellers. In many firms, employee engagement is crucial because it helps managers to inspire and advance their staff. The development of flexible work settings has increased demand for business leisure travel. B-leisure encourages workers to travel for business. The demand for corporate travel bookings has grown due to the rise in the number of extended business trip reservations, forcing businesses to prioritise making more investments and taking more vacations.

How the Growth Opportunities In China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism to US Market Does Look Like?

USA Ready to Capitalize on Surging Interest from China's MICE Tourism Sector

There are considerable development prospects for MICE travel from China to the US market. More Chinese people are travelling overseas for work and pleasure as a result of the continuous growth of the Chinese economy. Due to its established infrastructure and wide range of venues, hotels, and activities, the US is a well-liked MICE travel destination. The US is a popular location for conferences and exhibits due to its robust business climate and plenty of multinational corporations and organisations. However, the COVID-19 epidemic has had a significant global impact on the travel sector, and it is unclear how this will especially influence MICE tourism.

Also, the US dollar is relatively strong compared to the Chinese yuan, which makes it more affordable for Chinese travelers to visit the US. Additionally, the US has a large Chinese-American population, which can provide a sense of familiarity and comfort for Chinese travelers. Another factor to consider is the growing middle class in China. As more Chinese citizens become financially stable, they are more likely to travel abroad for business and leisure. This trend is expected to continue in the coming years, which could lead to increased demand for MICE tourism in the US.

However, it’s important to note that the US-China political relationship has been increasingly strained in recent years, and this could potentially affect Chinese travelers’ willingness to visit the US. Additionally, the COVID-19 pandemic has greatly impacted the travel industry, and it’s uncertain how this affect the MICE tourism specifically.

Overall, while the growth opportunities for China outbound MICE tourism to the US market are significant, it’s important to keep in mind that there are also potential challenges and uncertainties that may affect the industry in the short-term.

Category-wise Insights

Which Booking Channel do Tourists in the China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism to US Market prefer?

China Outbound MICE Tourism to US Flourishes via Online Booking Channels

Chinese tourists tend to be quite tech-savvy, and many use digital platforms and apps to research and book their trips. For example, they may use search engines, social media, and online travel agencies to research destinations, hotels, and activities, and then use mobile apps to book flights, hotels, and tours.

Additionally, many Chinese tourists use online platforms like WeChat and Weibo to communicate with friends and family back home, and to share information and recommendations about their trips. Some Chinese tourists also use online travel agencies and tour operators based in China that specialize in outbound travel, as they may offer more customized and personalized services , as well as a more convenient way to pay with local currency and forms of payment.

Competitive Landscape

In order to attract more Chinese MICE tourists, many US companies are offering cultural and recreational activities, such as city tours, food and wine experiences, and sporting events. They are also focusing on building partnerships with key Chinese businesses and organizations to offer customized, end-to-end travel solutions. Additionally, companies are investing in digital and technology-driven services, such as mobile applications and virtual reality experiences, to enhance the overall customer experiences and improve customer satisfaction.

In recent years, there has been a growing trend of companies targeting the high-end luxury MICE segment, offering exclusive and personalized travel experiences, such as private jets, five-star hotels, and bespoke activities. This trend is being driven by the increasing demand for luxury MICE travel among China’s growing middle class and high net worth individuals.

Overall, the competition in the China outbound MICE tourism market to the US is expected to remain intense in the coming years, as more players enter the market and existing players continue to refine their offerings to capture a larger share of this rapidly growing market.

Scope of Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD Million for Value
Key Countries Covered	USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Russia, India, China, Japan, Malaysia, Singapore, Australia, United Arab Emirates(UAE), KSA, Italy, Qatar, Oman, RoW
Key Segments Covered	By Direct Suppliers, By Indirect Suppliers, By Number of Bookings, Demographic, Nationality, Booking Channel, Event Type, Type, Age
Report Coverage	Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives, Spending,
Customization & Pricing	Available upon Request

China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism to US Market by Category

By Age:

• Under 15
• 16-25
• 26-35
• 36-45
• 46-55
• Over 55

By Event Type:

• Meetings
• Incentives
• Conferences
• Exhibitions

By Demographic:

• Male
• Female
• Kid

By Nationality:

• Domestic
• International

By Booking Channel:

• Phone Booking
• Online Booking
• In Person Booking

By Type:

• Budget
• Standard
• Premium

Frequently Asked Questions

How big is the China Outbound MICE Tourism to the US Market?

The market is valued at USD 32 billion in 2023.

Who are the Key China Outbound MICE Tourism to US Market Players?

Ctrip, China Travel Service, and BCD Travel are key China outbound MICE tourism to US market players.

Which is the Key Segment by Product Type?

Meetings are likely to remain preferred through 2033.

What is the Go-to-Market Strategy?

Players opt for mergers and acquisitions.

Which are the Key Asian Countries in the China Outbound MICE Tourism to the US Market?

China, Japan, and India dominate the Asian market.