Macau’s MICE industry looms as a key element of its non-gaming future as the government looks to diversify the economy. So how is recovery going for this important and growing sector?
A total of 1,536 MICE (Meetings, Incentives, Conferences and Exhibitions) events were held in Macau in 2019 before the COVID-19 pandemic saw this number tumble to 381 in 2020, improving only slightly to 449 in 2021 and 460 in 2022.
However, Macau’s tourism industry has recovered rapidly since the government dropped most remaining border restrictions on 8 January 2023. Visitor numbers reached almost 2.3 million in April and jumped to around 500,000 during the five-day “Golden Week” holiday starting on 1 May. Like other tourism related businesses, MICE has also enjoyed a resurgence as a result.
The number of participants in MICE events in Macau was close to 200,000 in the first quarter of this year, with more than 15,000 business visitors attending conventions. These two figures were 21% and 143% higher than the same quarter in 2022, respectively.
“(Macau) will strive to hold 700 to 1,000 MICE events this year, aiming to restore half the number of events held before the COVID pandemic,” said recently promoted President of the Macao Trade and Investment Promotion Institute (IPIM) Vincent U U Sang in January.
IPIM stated that Macau would hold about 30 conventions and exhibitions in June and July, including the “2023 Guangdong & Macao Branded Products Fair” and “G2E Asia”, expecting over 270,000 participants.
“The MICE industry has recovered quickly after the pandemic prevention measures were fully relaxed,” the President of the Macau Federal Commercial Association of Convention & Exhibition Industry, Osborn Lo, told IAG. “Many MICE companies have resumed organizing events.”
In just four months since the reopening of borders, Lo explained, the number of large-scale MICE events and the number of participants have returned to between 70% and 80% of pre-COVID levels. The speed of recovery, especially for smaller conferences, has been impressive.
“After Macau reopened all borders, some companies which had not organized MICE events in Macau for three years are now planning exhibitions in Macau,” Lo said. “I understand that some antique watch exhibitors have chosen to set up roving exhibitions within the [properties of the] six gaming concessionaires in Macau, which was rare even before COVID.”
Lo explained that the increased space dedicated to MICE – such as the newly opened Galaxy International Convention Centre – is the main reason for the rapid recovery of MICE activities.
“The SAR government holds a lot of events at the Complex of Commerce and Trade Co-operation Platform for China and Portuguese-speaking Countries, and the exhibition venues of the six gaming concessionaires support and hold various MICE events for SMEs,” he said. “Macau has plenty of MICE space.”
According to IPIM statistics, Macau is well equipped to become a major player in the regional MICE sector, offering over 240,000 square meters within its MICE venues and more than 40,000 hotel rooms.
The 6,000-seat Londoner Arena and the 16,000-seat Galaxy Arena are also new additions to the Macau landscape, with the Londoner Arena having officially opened its doors on 25 May, while all six concessionaires have promised further MICE investment under the new 10-year concessions signed in December.
“Driven by the non-gaming plans of concessionaires, commercial concert and other entertainment industries have recovered to 90% of 2019,” Lo said, noting that the likes of Melco Resorts are now signing performers to long-term residency shows.
However, similar to the hotel industry, Macau’s MICE industry has also encountered a loss of personnel during the pandemic – an issue that will take some time to fully resolve.
“The MICE industry had built teams of professionals over the past 20 years, but in the previous three years between 30% and 40% of these people have been lost,” Lo said.
“At this phase, it depends on the government and the media to promote the fact that Macau’s MICE industry is back on track and help rebuild confidence in what we have to offer.”
