Exhibitions produced the most direct and indirect economic impact, measured at 150.2 billion won in 2025. Photo Credit: AdobeStock/panyaphotograph
The economic ripple effect of 106 MICE events attracted or supported by Gyeonggi Province and the Gyeonggi Tourism Organization last year has been estimated at 219.8 billion won (US$149 million) in 2025.
Citing an analysis by the Korea Data Institute commissioned by the provincial government, local media reported that these MICE events created 1,894 jobs and delivered an average return on investment (ROI) of 5.35.
Exhibitions and large-scale events recorded the highest inducement effect at 150.2 billion won, followed by international conferences at 46.4 billion won. Incentive travel contributed 13.6 billion won, while domestic conferences accounted for 9.6 billion won. The analysis found that international events produced a significantly greater economic impact on the local economy.
Reportedly, ROI varied widely by event type, ranging from 1.30 to 20.20, with the overall average far exceeding the recommended benchmark of 1.
Gyeonggi Province is rolling out a MICE attractions and events support package. The programme provides funding for pre-event site inspections by organisers, overseas promotional activities including exhibition booths, and subsidies towards venue hire.
Jang Hyangjeong, director of tourism industry at Gyeonggi Province, was quoted to have said: “The MICE event support project is not only about attracting events to stimulate the local economy and tourism,” she said. “It also serves as a key growth engine for the development of local industries and job creation. We will continue to develop globally competitive MICE content to revitalise local tourism and strengthen Gyeonggi Province’s international profile.”