Government to invest USD1,6 billion in MICE Tourism in Saudi Arabia

16th Mar, 2016

According to the Saudi Commission for Tourism & National Heritage, the number of exhibitions and conferences in Saudi Arabia during 2016 is expected to increase by about 20%.

The executive director of the conference and exhibitions national program, Tarek Al-Essa, named several reasons for the positive forecast of the government: “There are several factors that strengthen the possibility of development of MICE tourism in Saudi Arabia such as the plan of the government to diversify the economic base, invest more in the sector, and further develop the national program of conferences and exhibitions. The aim is to stimulate the MICE sector in the kingdom… The vision of the government is that Saudi Arabia will become the main destination for conferences and exhibitions in the Middle East by 2020.”

The government’s investment in the MICE tourism industry for the coming years until 2019 amounts to USD1.6 billion. Several centres and venues will benefit from the financial boost. One of them is the new King Salman International Conference Center in Medina, which is planned to open before the end of this year.

Another venue is the centre for conferences and exhibitions in the International Airport of the King Khalid in Riyadh, which should open by 2020. 

The national program of conferences and exhibitions issued licenses to nearly 7,900 events during 2015. According to the official statistics, there were about 4 million visitors at these events, including conferences, forums, meetings, seminars and workshops, and representing an increase of 23% compared to 2014. Over the last two years, nearly 700 companies started offering their services as event organizers. Currently, there are 3,100 such businesses in the kingdom.

Mohammed Al-Hussieny, the vice chairman of the Conferences & Exhibitions Sector National Committee said that there are several reasons to believe that the MICE tourism sector is set for growth: “One of the benefits is the beneficial location of Saudi Arabia and the fact that the kingdom is one of the largest regional economies. Moreover, the kingdom attracts the event organizers with its amenities including modern facilities and infrastructure. It is also characterized by its variant geographical topography ranging from deserts to beaches”.

According to Al-Hussieny, MICE tourism in Saudi Arabia could generate huge revenues which will contribute to the GDP and become the key driver of the national economy.

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