New research shows that the MICE and wedding industries generate economic activity across accommodation, transportation, gastronomy and local supply chains. According to a 2026 study by the Events Industry Council and Oxford Economics, the global business events sector brought together 1.65 billion participants in 2025 and generated $1.3 trillion in direct spending. Including indirect and induced impacts, the sector contributed $1.8 trillion to global GDP.
This economic scale is also changing how destinations approach the MICE industry. The success of congresses and events is increasingly being assessed not only through attendance figures and hotel stays, but also through the broader economic and sectoral value they create for destinations.
Events Are Becoming a Reason to Travel
A 2026 study by KPMG India covering MICE, weddings, sports and live events highlights the role events play in travel decisions. According to the research, 54.4 percent of respondents travelled outside their home city for their most recent event, while 51.5 percent said attending the event was the sole purpose of their trip.Visitors travelling from outside the host city accounted for 70.4 percent of the total visitor spending calculated in the study.
Singapore is among the destinations positioning MICE as part of its wider economic growth strategy. According to the Singapore Tourism Board, MICE-related tourism receipts increased by 35 percent in 2025 to SGD 2.3 billion.
International events that Singapore is attracting or planning to develop span sectors including healthcare, finance, innovation, the green economy, pharmaceuticals and semiconductors. In this context, MICE is becoming more than a tourism product that brings visitors to a destination, serving as a platform that connects companies and professionals from different industries.
What Remains After the Event?
Another shift in the MICE industry is the growing focus on measuring the long-term impact of events. Destination Canada's three-year study of 15 international events assessed not only their short-term economic contributions, but also their impact on knowledge sharing, human capital, funding, policy, infrastructure, society and the environment.
In 2026, ICCA also began developing a global system designed to measure the impact of international congresses in areas including knowledge transfer, talent attraction, sector development and scientific progress. This approach raises a new question for the MICE industry: Should the success of an event be measured not only by how many people attend, but also by the value it leaves behind after the event is over?
Destination Weddings Feed Into the Same Economy
A similar economic structure can be seen in the destination wedding market. Multi-day wedding celebrations in particular create an extensive economic chain involving hotels, airlines, transfer companies, restaurants, event agencies, production teams and local suppliers.
India is one notable example. According to KPMG's research, wedding-related household expenditure in the country is estimated to have reached approximately INR 6.5 trillion in 2025, although this figure is not limited to destination weddings. India's Ministry of Tourism is also promoting the country in the international destination wedding market through its “India Says I Do” campaign.
While MICE and destination weddings serve different markets, they share common ground from a destination economy perspective. Both can generate travel demand around a specific event while creating additional spending across accommodation, transportation and local services. This shift is also changing the nature of competition between destinations. The question is no longer simply how many visitors a destination attracts, but also which events it brings in, how much value those events generate for the local economy and what remains after they are over.
