Vietnam's MICE Tourism Set for Growth, Led by Meetings and Exhibitions
Viet Nam's Meetings, Incentives, Conventions, and Exhibitions (MICE) tourism is poised for growth, with meetings leading the market at 45.25 percent and exhibitions projected to expand at an annual rate of 8.24 percent by 2030. A recent group of tourists in Nha Trang, organized by New Life Travel, highlights the sector's potential.
Despite its promise, Viet Nam's MICE industry remains fragmented and small, lagging behind neighbours in professionalism and competitiveness. However, its potential is undeniable, with MICE travellers staying longer and generating higher revenue. Between 2023 and 2024, MICE was the fastest-recovering segment, accounting for 60 to 70 percent of visitor volume.
The sector's growth is driven by trends such as the experience economy and event technology revolution. Viet Nam's stable politics, friendly people, safety, and competitive costs further enhance its appeal as a global MICE destination. The government and businesses are engaged in supporting this growth, with the industry on the cusp of a breakthrough.
To build its brand, Viet Nam's MICE industry should focus on its rich heritage, invest in smart infrastructure, develop high-quality human resources, and encourage public-private cooperation. With these efforts, Viet Nam can fully realise its potential as a significant contributor to national tourism through MICE tourism.
