Smart hoteliers know that Meetings, Incentives, Conferences and Exhibitions (MICE) bring massive potential. The MICE tourism market size was worth USD$42.8 billion in 2022, and this is set to have almost doubled to $83.9 billion by 2032.
NB: This is an article from Cendyn
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Fueled by increasing investment in MICE, growing economic benefits, the continuing globalization of business, and increased focus on employee motivation and wellbeing – analysts are optimistic about the future.
The MICE market in London is currently strong. The city’s strategic location and infrastructure continue to make it a leader, while global trends towards knowledge exchange and professional development are driving growth. Almost half of the 42.5 million overseas visitors to Great Britain in 2024 went to London, and 17% visited for business reasons.
With close to a fifth of London’s overseas visitors being business travelers, hotels need fact-based evidence to define strategies to effectively reach the MICE market and drive revenue.
Having grown our data and knowledge, we now have crucial insights about market segment distribution and top industries that hoteliers can look towards to thrive in the MICE market in the city, shared in our London MICE Market Insights report.
Here are the stand-out facts hoteliers in London need to know.
Corporate strength underpinned by professional networks
So far in 2025, the Corporate segment is the frontrunner in the MICE market in London, holding the highest proportion of market share. The Corporate segment in MICE covers events that are planned and driven by businesses – including meetings with clients and internal meetings, incentives, conventions, exhibitions, and more.
In fact, corporate events accounted for 48% of the global MICE market last year, while corporate event participation accounts for 58% of global MICE activity. Clearly, focusing on the Corporate segment is a smart move for hoteliers.
Although corporate-driven MICE is the leading segment, there is also notable growth happening in the Association segment – which covers professional development and networking events. With year-on-year growth in event volume, hoteliers should take notice of this emerging trend that reflects London’s strategic location and infrastructure.
