MICE Industry
In November 2020, the city of Busan announced the "Busan Metropolitan City MICE Industry Medium and Long-term Promotion Plan" in order to take the next leap forward to become a leading MICE hub city in Asia. The MICE industry (Meetings, Incentives, Conferences, and Exhibitions) was designated as one of Busan’s seven key strategic industries.
As the MICE industry is now recognized worldwide as a high-value-added sector and tourism resource, countries all over the world are putting their utmost efforts into developing their own respective MICE industry as a means to stimulate economic development.
In order to accomplish this growth, the MICE industry has been seeking specialized large-scale exhibition and convention centers that can accommodate internationally renowned conferences, exhibitions, incentive tours and events. To provide various MICE-related services, the industry systematically operates in conjunction with accommodation, transportation, tourism, trade and distribution businesses.
The average expenditure per MICE-related visitor exceeds that of the general tourist. The MICE industry also creates jobs and raises the profile of the host country, which in turn has a significant impact on the local economy. Many countries, such as China, Japan, Singapore, and the United States have already recognized the benefits of this industry and implemented strategies accordingly to foster its growth at the national level.
To encourage growth in this important industry, the city of Busan completed the latest expansion of the Busan Exhibition and Convention Center (BEXCO) and auditorium in 2012. The city has also provided steady support to the private sector to host as well as participate in overseas exhibitions and promote hidden champions within the MICE sector.
The city of Busan has proven itself to be one of the best convention cities in the world again and again through the hosting of 239 international conferences as of 2019 (ranked 5th in Asia, 13th in the world) according to the Union of International Associations (UIA).
The city of Busan also provides an annual opportunity to introduce for the MICE industry to the public at home and abroad through hosting the MICE Festival and the Busan MICE Overseas Road Show. The city plans to continue showing strong support for the industry as it strives to position itself as a major MICE center in Asia.
