The term “MICE” in the context of travel is an acronym for meetings, incentives, conferences, and exhibitions. The MICE market refers to a specialized niche of group tourism dedicated to planning, booking, and facilitating conferences, seminars, and other events, which is a big moneymaker in the travel industry. MICE to refer to this industry is useful in that it encompasses every component of this particular travel market. Whether you’re looking to organize a group outing for your company’s employees (incentive) or you want to organize a big event focused on the latest innovations in your field (conference)
TYPE OF TRAVEL
The International Association of Professional Congress Organizers defines a meeting as any number of people coming together in one place for a particular activity, which can be a one-time event or recur regularly. Simply put, meeting travel refers to organizing any number of people for such a meeting, which means it could also include a company sporting trip.
On the other hand, a conference is similar to a meeting in that it is a gathering of people coming together in one place, but conferences usually have specific objectives and exchanges of information. Therefore, conference travel involves organizing itineraries, meetings, and events for people from the same profession or field.
Incentive travel may be one of the harder components of MICE travel to understand since it doesn’t necessarily deal with group events. Instead, incentive travel is typically given to employees as a reward. Incentive travel doesn’t usually have a business or explicit educational component but instead is more of a non-business vacation with the aim of continued motivation for performance.
At an exhibition, products or services are displayed, and they might be the primary focus of the event, which means that exhibition travel agents are those who organize such showcases. Exhibitions are often included in other conferences and meetings, though, meaning that there is often overlap between agents in these industries. Businesses court new clients and debut their latest offerings at these events.