Macau’s Meetings, Incentives, Conferences, and Exhibitions (MICE) sector continues to drive non-gaming revenue, generating MOP4.48 billion ($557 million) in the first three quarters of 2024.
This represents a 5.4 percent increase compared to the same period in 2023 (MOP4.26 billion), underscoring the city’s growing focus on diversifying its economy beyond gaming.
According to the latest data from the Statistics and Census Service (DSEC), the number of MICE events in Macau rose by 29.8 percent year-on-year to 1,011 during the first nine months of 2024, reaching 94 percent of pre-pandemic levels seen in 2019. This increase translates to an additional 232 events compared to the same period last year, indicating a strong recovery in the sector.
The surge was primarily driven by meetings and conferences, which saw a 30.2 percent rise year-on-year, totaling 943 events. The number of participants in these events grew by 12.7 percent, reaching 136,000. However, the exhibition segment faced challenges, with only 40 events held—down by four compared to 2023—and a 21.7 percent drop in attendees, totaling 856,000.
Despite this decline, exhibitions managed to attract 4,680 exhibitors and 28,295 professional visitors, though these figures represented slight year-on-year decreases of 0.7 percent and 9.2 percent, respectively. Notably, over half of the exhibitors (50.1 percent) and professional visitors (53 percent) were non-locals, marking increases of 1.4 and 8.5 percentage points, respectively.
In terms of content focus, nearly 41 percent of events in the first three quarters were centered on “Commerce & Management,” accounting for 409 events. Other popular topics included “Information Technology” (108 events), “Tourism” (108 events), and “Medical & Health” (97 events), collectively making up a significant portion of Macau’s MICE calendar.
The incentive segment also experienced positive growth, with 28 incentive events held—an increase of 17 events compared to the previous year. The number of participants rose by 16 percent, reaching 12,000, highlighting continued interest in incentive-driven travel to Macau.
The third quarter of 2024 presented mixed results for Macau’s MICE sector. While the number of events grew by 16.7 percent year-on-year to 300, the total number of participants and attendees declined by 4.8 percent, totaling 521,000. Non-gaming receipts for the quarter amounted to approximately MOP2.02 billion ($251 million), a decline of 17.3 percent compared to the same quarter in 2023 (MOP2.44 billion). However, these revenues showed a significant rebound of 36.4 percent from the second quarter of 2024 (MOP1.48 billion), suggesting a gradual recovery.
During this period, there were 276 meetings and conferences, up by 19 percent year-on-year, while the number of exhibitions decreased by six to a total of 14. These exhibitions drew 1,685 exhibitors and 9,178 professional visitors, demonstrating sustained interest despite the overall decrease in numbers. Additionally, the number of incentive events increased to 10, up by five from the previous year.
