Southeast Asia Overview:
Thailand’s M.I.C.E (Meetings, Incentives, Conferences, and Events) industry has shown remarkable resilience and growth. In the 2024 fiscal year, the country welcomed 1.16 million overseas M.I.C.E travelers, a 42% increase from 2023, nearing the pre-pandemic peak of 1.2 million in 2019. Looking ahead to 2025, Thailand is poised to host several large-scale international events, each accommodating 5,000 to 10,000 participants, signaling a thriving and expanding M.I.C.E sector.
Singapore is establishing itself as a leading sustainable M.I.C.E destination in the Asia-Pacific region. Guided by the Singapore Green Plan 2030 and the United Nations Sustainable Development Goals, the M.I.C.E Sustainability Roadmap sets ambitious targets:
- Develop sustainability standards by 2023, with international recognition targeted for 2024.
- Ensure all six purpose-built M.I.C.E venues and 80% of Singapore Association of Convention and Exhibition Organizers and Suppliers (SACEOS) members achieve recognized sustainability certifications by 2025.
- Achieve a 50% reduction in carbon emissions by 2030.
These initiatives reinforce Singapore’s commitment to sustainability and solidify its reputation as a premier M.I.C.E hub in the region.
Vietnam’s M.I.C.E Industry in 2025
Vietnam’s M.I.C.E sector is experiencing robust growth, supported by government initiatives and significant infrastructure investments. In 2023, the industry was valued at approximately USD 6.81 billion, with projections indicating continued expansion by 2025. Key drivers of this growth include:
- Infrastructure Development: Substantial investments in modern convention centers, hotels, and transportation networks have bolstered Vietnam’s capacity to host large-scale events.
- Government Initiatives: The Vietnamese government has introduced policies to attract international M.I.C.E events, such as streamlined visa processes and promotional campaigns. For example, Ho Chi Minh City recently hosted a delegation of 460 guests from India—one of the largest international MICE groups to visit Vietnam—complete with special ceremonies and logistical support. (Source: The World and Vietnam Report)
- Strategic Location: Vietnam’s proximity to major Asian markets, combined with its rich cultural heritage, enhances its appeal as a M.I.C.E destination.
According to the World Tourism Organization, global M.I.C.E tourism revenue is projected to exceed USD 1.4 trillion by 2025, with the Asia-Pacific region, including Vietnam, playing a significant role in this growth.
Key Challenges
Despite its potential, Vietnam’s M.I.C.E industry faces several challenges in 2025:
- Competition: Regional leaders like Thailand and Singapore continue to dominate the Southeast Asian M.I.C.E market with established reputations and advanced infrastructure.
- Sustainability: Unlike Singapore, Vietnam has yet to fully integrate sustainability into its M.I.C.E offerings, which could limit its appeal to eco-conscious organizers.
- Skill Gaps: A shortage of trained professionals in event management and hospitality may hinder the country’s ability to deliver world-class MICE experiences.
Conclusion
As of 2025, Vietnam is emerging as a dynamic contender in Southeast Asia’s M.I.C.E industry, leveraging infrastructure improvements, government support, and its strategic location to attract international events. However, addressing competitive pressures, sustainability demands, and workforce development will be critical to sustaining its growth. With the global M.I.C.E tourism market on an upward trajectory, Vietnam is well-positioned to capture a larger share of this lucrative industry, provided it navigates these challenges effectively.