CVB Update: Macau Trade and Investment Promotion Institute

Macau: Its MICE venues will exceed 240,000 sqm, together with over 40,000 hotel rooms to accommodate thousands of delegates by year-end. Photo Credit: Adobe stock/Yay Images

As part of M&C Asia’s CVB Update series, Macao Trade and Investment Promotion Institute (IPIM) shares its plans and developments:

What’s IPIM’s 2023/24 projection for Macao’s MICE sector?

We’re excited to see a robust rebound in Macao’s MICE industry, with an estimated 700 to 1,000 business events set to take place in the city this year. This marks an impressive 50% to 110% growth from the previous year.

What are IPIM’s key plans to grow the MICE industry in the next three years?

Striving to position Macao as a premier MICE destination in Asia, we aim to elevate the MICE industry’s global competitiveness by 2025. Our strategy involves advancing the internationalisation, marketisation, professionalism, and digitalisation of MICE events in the city. Through this approach, we anticipate not only transforming the MICE industry but also fostering Macao’s economic diversification.

What are Macao’s newest developments that MICE planners should know about?

Galaxy International Convention Center, which can accommodate 16,000 people, will put into use by this year in Macao. With this exciting addition, the city's total MICE venues will exceed 240,000 sqm, together with over 40,000 hotel rooms available to accommodate thousands of delegates all at once.

The MICE sector is set to receive a significant boost, as the city’s six major gaming operators have announced plans to invest US$14 billion in non-gaming elements over the next decade.

Macao and Hengqin are working together to implement a new model of “one event, two places”, targeted to boost more events take place in both places and offer options to event organisers.

IPIM provides “One Stop Services” for MICE bidding and support in Macao, designating personnel to follow up before, during and after the events, and offer necessary support according to different needs. IPIM will also offer Convention and Exhibition Stimulation Programme to provide subsidy to event organisers hosting events in Macao.