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HomeNewsMacauMacau's MICE generates over $112M in non-gaming revenue in 1Q24

Macau’s MICE generates over $112M in non-gaming revenue in 1Q24

In the first quarter of 2024, the MICE-driven receipts of non-gaming industries in Macau surged to MOP900 million ($112 million), exhibiting an increase of over 50 percent from the same period in 2023 when it stood at MOP600 million ($74.7 million). The growth is primarily attributed to escalated spending by MICE visitors.

The SAR’s Statistics and Census Service (DSEC) highlighted in a press release that this marks the inaugural quarterly report on MICE-driven receipts of non-gaming industries in Macau. This adjustment aims to provide a more accurate reflection of the economic impact of MICE events.

MICE-driven receipts encompass expenditure by MICE visitors within Macau, direct revenues generated from the provision of goods and services by local MICE-related industries, as well as revenues from support services provided by related industries in the supply chain.

Moreover, data unveiled by the DSEC on Monday revealed that a total of 307 MICE events took place in the first quarter of the year, comprising 289 meetings and conferences, 12 exhibitions, and six incentives. This represents a notable increase of 31.2 percent (73 more events) compared to the previous year.

Of the 289 meetings and conferences held during the first quarter, there was a substantial uptick of 30.2 percent (67 more events) from the previous year. The number of participants surged by 39.1 percent, reaching a total of 34,000 attendees. 

Notably, a significant portion of these events (146, or 50.5 percent) featured fewer than 50 participants. However, the most notable growth was observed in larger meetings and conferences, with 200 or more participants, which saw a 58.6 percent increase year-on-year, totaling 46 events.

Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

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