According to a recent report by Allied Market Research, the global events industry is projected to register a compound annual growth rate (CAGR) of 6.8 per cent over the next decade and its estimated total market value will exceed $2.5 trillion by 2035.
Conferences, trade shows and exhibitions are indispensable for many businesses, offering a vital opportunity to increase their visibility and meet clients and potential partners face-to-face.
Furthermore, corporate events, in particular, continue to support millions of jobs worldwide, adding a staggering $1.6 trillion to global GDP annually, with Dubai firmly establishing itself as an international hub for business events. Indeed, its meetings, incentives, conferences and exhibitions (MICE) segment grew by 25 per cent in 2023.
However, Saudi Arabia also has ambitions to become a global events leader. Its mega tourism projects will undoubtedly become a magnet for meetings and incentive organisers, and as their economy diversifies and expands, the exhibitions and conferences sector also has massive potential for future growth.
Elsewhere in the GCC, Qatar, Bahrain and Oman are making strides in the MICE sector. Qatar is projected to grow at a 9.5 per cent CAGR from 2024-2032 (IMARC Group), Bahrain continues to invest in business tourism as a key national strategy, and Oman generated $1.9 billion in direct MICE income in 2023 alone, aiming to be a top regional destination. Africa's business events sector is also booming, valued at $16.6bn in 2023 and expected to reach $65.6bn by 2032, reflecting a 16.8 per cent CAGR.
So, having identified this trending and vibrant vertical, we decided to carry out a survey during ATM 2024, and more than 7,000 attendees, 1,500 buyers and 400 exhibitors expressed interest in this lucrative sector. In response to this overwhelming demand from business travel professionals, this year at ATM 2025, we are launching IBTM@ATM.
We have allocated a dedicated zone, designed to unlock strategic connections, impactful collaboration and data-driven insights, bringing together suppliers and buyers through scheduled appointments and business exchange sessions. A brand-new Business Events Stage will host a broad range of sessions on the future of business travel, technological innovation and socioeconomic growth.
Moreover, the ATM 2025 theme of enhanced connectivity is particularly relevant to the evolving and expanding business events sector, which thrives on strategic partnerships, knowledge exchange, and innovation.
Through IBTM@ATM, we are strengthening our commitment to adding value to our exhibitors and attendees by creating a dynamic community where suppliers and buyers can engage in meaningful networking, business exchange sessions, and a high-impact content programme. By leveraging our unique insights, we aim to facilitate connections and unlock new opportunities that drive long-term growth within this thriving market segment.
More specifically, IBTM@ATM will bring together suppliers and buyers from across the business events sector, connecting meeting planners, association buyers, professional conference organisers, incentive buyers, destination management companies (DMCs), corporate event planners, event technology providers, travel agencies and tour operators with a diverse range of convention bureaus, unique venues and hotels, conference facilities, and airline and transport solution providers, amongst others.
The ICCA has also agreed to become the official Business Events Partner for ATM 2025 and will take an active role, leading sessions on the evolving landscape of global business events facilitating the attendance of key international association buyers and launching an exclusive government meeting ranking report.
* Danielle is Exhibition Director ME, Arabian Travel Market