18 Jan MICE Tourism in 2024, Perspectives and Trends in the Region of Valencia
MICE Tourism in 2024, Perspectives and Trends in the Region of Valencia
MICE Market
The world of tourism and the MICE market in the Valencia Region is undergoing constant evolution, driven by changes in technology, society and travellers’ expectations. In 2024, MICE tourism looks set to be a dynamic sector full of opportunities, and recent market results in Spain and the Region of Valencia support this optimism.
MICE accounts for 8% of national tourism and the average expenditure per tourist is triple that of leisure tourism, with this expenditure generating direct income for local businesses. Another key factor is the deseasonalisation of destinations and the development of infrastructures so that this segment of the tourism market can continue to grow in 2024.
According to some analyses of the MICE industry worldwide on the 2020 and 2030 forecast, it is expected to reach 1.78 billion dollars by 2030, with a compound annual rate of 6.1% between 2020 and 2030. (Next Move Strategy Consulting)
MICE destinations
By country, the leaders in the global ranking for 2024 will be: United States, China, Germany and Spain.
In terms of international demand for the Spanish market, according to the latest SCB study, the main issuers in terms of business volume are: Germany (10%), UK (9%), France (8%) and Benelux (7%).
The Spanish cities with the largest MICE market are still Barcelona and Madrid, but Valencia (Comunitat Valenciana), Bilbao and Malaga are expected to grow significantly this year.
Another destination that has been a trend in recent years is Benidorm (Comunitat Valenciana), with a great job done by Visit Benidorm in promotion, organising several events of reference in the sector, such as the Assembly of the Spain Convention Bureau, the M&I Forum, Iberian MICE Forum and the 35th OPC Spain Congress.
Trends for 2024
In terms of MICE market trends for this year in the Valencia Region, artificial intelligence, digitalisation, sustainability, security and personalisation define the fundamental criteria in the industry for this new year.
Technology as a Driver of Innovation
In Spain, the MICE market has experienced a significant increase in the adoption of innovative technologies. According to data from recent years, events incorporating augmented reality (AR) and virtual reality (VR) have seen a 30% increase in audience participation and satisfaction. Artificial intelligence (AI) has also played a crucial role in personalising itineraries and optimising event logistics, improving efficiency and the overall experience.
Sustainability as a Priority
Sustainable events have gained ground in Spain, reflecting growing environmental awareness. Data from the last two years shows that 60% of MICE event organisers in Spain have prioritised the selection of eco-friendly venues, and more than 75% have implemented sustainable practices during their events. This approach not only contributes to the environment, but also translates into better brand awareness and higher levels of participation.
Emerging Destinations in Focus
In Spain, there has been a shift towards emerging destinations in the MICE market. Cities outside of the traditional destinations, such as Valencia, Bilbao and Malaga, have experienced a 20% increase in the choice of corporate event venues. This phenomenon not only diversifies the options available, but also boosts the local economy and promotes tourism in less explored areas.
Hybrid and Virtual Experiences
The pandemic accelerated the adoption of hybrid and virtual events in Spain. According to the most recent data, 45% of MICE events in the last year have included a virtual option. This trend has proven to be particularly valuable in attracting international participants and ensuring event continuity in exceptional situations.
What Values Position the Valencia Region and Benidorm in the European MICE Tourism Market in 2024?
In the European context, the Region of Valencia and Benidorm stand out for their unique values that position them as ideal destinations for MICE tourism:
Hospitality and Culture:
The warm Mediterranean hospitality is a distinctive feature of the Comunitat Valenciana and Benidorm. The rich local culture is integrated into event planning, offering participants authentic and enriching experiences.
First Class Infrastructure
Both the Comunitat Valenciana and Benidorm boast modern, high quality infrastructure. Hotels, convention centres and efficient transport services provide convenience and accessibility for events of any scale.
Training and Talent Development
The training and development of professionals specialised in MICE event management has been a priority. The promotion of educational programmes, training courses and participation in international conferences and trade fairs has contributed to the development of local talent that understands the specific needs of the MICE industry.
Public-Private Collaboration
Effective collaboration between government entities, tourism bodies, private companies and sector associations has been fundamental. This synergy has allowed the implementation of joint strategies for the promotion of business tourism, as well as for the establishment of standards and regulations that promote quality and professionalism in the organisation of events.
And it should not be forgotten that the importance of public-private collaboration in the meetings industry will continue to be present in 2024 and the years to come.
Natural Environment and Recreation
The natural beauty of the Valencia Region and the coastal location of Benidorm offer an attractive environment for corporate events. The combination of beaches, mountains and activities adds a special touch to the MICE experience.
Commitment to Sustainability
Benidorm has been the first destination to be certified as a Smart Tourism Destination in the World, directly impacting business tourism through its 5 axes: Governance, Innovation, Technology,Sustainability and Accessibility.
Both destinations have demonstrated a strong commitment to sustainability, integrating eco-friendly practices in event planning. This concern for the environment resonates with the growing demand for sustainable events in the MICE market.
With recent data from the MICE market in Spain supporting these trends, MICE tourism in 2024 looks set to be an exciting and dynamic landscape. Event organisers and participants are in a unique position to take advantage of these trends and create memorable and meaningful experiences. Stay tuned for these changes, as they are shaping the future of MICE tourism in Spain and offering exciting opportunities for the industry.