A new report by industry body FICCI says that strong economic growth coupled with rapid emergence of India on the global horizon is poised to drive the growth of MICE tourism at a much faster rate. India is a late entrant in the segment with a little share on the global scale. Of the total 12,563 international meetings in a year, it hosts only 175 - or just 1.4 per cent to rank 24th worldwide.
In 2018, MICE tourism in India was pegged at Rs 25,000 crore with 8 per cent growth year-on-year, said the report titled 'India Inbound Tourism : Unlocking the Opportunity'. The industry is estimated to have a space of 5 lakh square metres, which is expected to cross 15 lakh square metres over the next two to three years. "This will result in doubling the growth rate," said the report highlighting enormous potential India has due to its strategic location and being a round-theyear destination.
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