Congress Tourism Market Report 2024

This Congress Tourism market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The congress tourism market size has grown strongly in recent years. It will grow from $965.47 billion in 2023 to $1.05 trillion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth during the historic period can be attributed to a heightened emphasis on sustainability, customization, and social media, along with rapid advancements in infrastructure and technology. Additionally, the growing trend of corporate meetings, the rise in global conferences, and increased government initiatives in the tourism sector have all contributed to this growth.

The congress tourism market size is expected to see strong growth in the next few years. It will grow to $1.49 trillion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth during the forecast period can be attributed to the increasing demand for business conferences, the expanding trend of online booking, and the introduction of new tourism packages. Additionally, the rising popularity of virtual events, the use of advanced technology for event planning and management, and the growing use of digital marketing and social media platforms contribute to this growth. Major trends for the forecast period include the continued popularity of virtual events and advanced technology, the development of high-quality hotel spaces with prompt service, ongoing technological advancements, a shift to hybrid work models, and the use of translational equipment and instruments to meet video and audio needs.

The increasing demand for business conferences is anticipated to drive the growth of the congress tourism market in the future. Business conferences are formal events where professionals, companies, or organizations gather to discuss industry trends, exchange knowledge, network, and collaborate on strategies or projects. This growing interest in business conferences is often fueled by the expansion of global business networks, technological advancements, and the need for ongoing professional development. Congress tourism plays a crucial role in business conferences by offering a structured environment for networking, knowledge sharing, and exploring new opportunities. For example, Social Tables, a US-based event planning software company, reported that in 2023, the United States hosted over 41,000 conferences and trade shows. Thus, the increasing demand for business conferences is a key factor in the growth of the congress tourism market.

Companies in the congress tourism market are focusing on developing incentive programs to streamline the planning and execution of incentive travel programs. These incentive programs are designed to motivate and reward individuals or groups for achieving specific goals or performance targets. For example, in July 2023, Ottawa Tourism, a Canada-based organization specializing in destination development and marketing, launched the Ottawa VIP (Visitor Inspiration Program). This program provides tour operators with a box of local gifts to enhance the in-destination experience and showcase Ottawa’s culture. It also includes a $35 credit per room night, which can be applied to a tour operator’s next visit to Ottawa, encouraging repeat business. This multi-year incentive program, available until December 1, 2023, aims to boost engagement with the city’s travel trade.

In August 2023, EventMobi, a Canada-based company specializing in event management software, acquired Run The World for an undisclosed amount. This acquisition is intended to combine EventMobi's expertise in in-person events with Run The World's capabilities in virtual events, allowing the new entity to offer advanced, integrated hybrid event solutions. Run The World is a US-based provider in the congress tourism sector.

Major companies operating in the congress tourism market are Kuoni Destination Management, BCD Travel Services Inc., VisitBritain, MP International Pte Ltd, Congrex Switzerland AG, Congress Rental Network, American Meetings Inc., IMEX Group Ltd, EventMobi Inc., International Conference Services Ltd, IAPCO - International Association of Professional Congress Organisers, Conference Partners International Ltd, Kenes Group Ltd, K.I.T. Group GmbH, Event Solutions Inc., Tumlare Corporation, EGA (European Group of Associations) Professional Congress Organizers, ICMS Australasia Pty Ltd, Arinex Pty Ltd, Event Dynamics Inc., Ana Juan Congresos S.L., ESA Latin America S.A., Ovation Global DMC, ICCA (International Congress and Convention Association), CPO HANSER SERVICE GmbH.

Europe was the largest region in the congress tourism market in 2023. The regions covered in the congress tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the congress tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Congress tourism is a specialized segment within the broader tourism industry, focusing on the organization and attendance of large-scale meetings, conferences, and conventions. This sector primarily serves business and professional events, where participants gather to discuss industry trends, share knowledge, and network. Congress tourism is vital for fostering professional development and creating networking opportunities across different industries.

The main categories of tourism include independent travelers, package travelers, and tour groups. An independent traveler is an individual who attends a conference, convention, or other business-related event independently, without being part of a group or package tour. Booking for these events can be done via phone, online, or in person through airlines, hotel companies, car rental services, trains, tour operators, and government agencies. These bookings are facilitated through various indirect channels such as online travel agencies (OTAs), traditional travel agencies, travel management companies (TMCs), corporate buyers, and aggregators.

The congress tourism market research report is one of a series of new reports that provides congress tourism market statistics, including congress tourism industry global market size, regional shares, competitors with a congress tourism market share, detailed congress tourism market segments, market trends and opportunities, and any further data you may need to thrive in the congress tourism industry. This congress tourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The congress tourism market includes revenues earned by entities by organizing and attending conferences, accommodation and transportation, catering, and hospitality. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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