Vietnam MICE Market Size & Share Analysis - Growth Trends And Forecast (2025 - 2030)

Vietnam MICE Market Trends and Insights

Government Promotion & Infrastructure Spending

Vietnam’s USD 36 billion 2025 capex plan, the largest single-year allocation in its history, prioritizes airports, expressways, and metro lines, collectively solving delegate-mobility bottlenecks that once dampened the Vietnam MICE market^{[3]VinaCapital Analysts, “Vietnam’s increased infrastructure investment target,” The Investor, theinvestor.vn} . Sun Group’s Phu Quoc upgrade triples terminal throughput to 20 million passengers and signals a private-sector vote of confidence. The expansion of Ho Chi Minh City’s metro system is projected to significantly reduce cross-district travel times, enabling efficient multi-location scheduling within a single day. The establishment of a "one-stop" desk by the Ministry of Planning and Investment has streamlined permitting processes, resulting in faster venue delivery timelines. These advances neutralize Singapore’s historic logistics edge while drawing in further private capital for hotel-linked convention complexes.

Relaxed E-Visa Regime & Air-Lift Expansion

The extension of e-visa validity and the implementation of exemptions resulted in a 39.5% increase in arrivals, totalling 17.6 million in 2024, with business travel serving as the key contributor to this growth. Indian delegate numbers climbed 363% year on year, helped by new nonstop Delhi–Da Nang and Mumbai–Ho Chi Minh City services. Vinpearl’s partnerships create 25 additional Russian routes, widening secondary-city access for European and CIS incentive planners. A proposed ASEAN “Schengen-style” visa could drop remaining bureaucratic hurdles, reducing average lead times by six days and saving USD 120 per delegate in agency fees. For corporations under tight launch schedules, the Vietnam MICE market now represents the lowest-friction entry in Southeast Asia.

Hybrid & Sustainable Event Demand

Sustainability eclipsed cost control as the top priority for 87% of APAC planners in 2024 ^{[4]Greissy Sánchez, “MICE Trends for 2024,” Evintra, evintra.com} . Sheraton Saigon, in adherence to ISO 20121 standards, focuses on optimizing energy and water usage, enabling event organizers to effectively integrate ESG objectives with high-quality service delivery. MICE EXPO 2025 drew virtual participants via AR-enhanced booth tours, doubling physical capacity and demonstrating how hybrid architecture scales revenue without proportional carbon cost. Eventista processed over 10 million interactions and controls 95% of Vietnam’s online polling, giving sponsors data-rich insight into engagement patterns. These capabilities give the Vietnam MICE market a first-mover advantage among ESG-minded corporates looking to trim Scope 3 emissions.

Rise of Secondary MICE Hubs

Phu Quoc, offering venue rates lower than those in Ho Chi Minh City, strategically enhances its value proposition by integrating beach activities, golf experiences, and biosphere tours, which collectively drive higher ancillary spending per delegate. Quy Nhon embeds renewable-energy showcase sites into incentive itineraries, aligning with CSR agendas and tapping tax breaks in the Nhon Hoi Economic Zone. Hue mixes imperial-era settings with “Net-Zero Day” programs certified by local NGOs, encouraging purpose-led gatherings. Diversifying capacity across multiple hubs shields national supply from weather or infrastructure disruptions and unlocks new storytelling angles for incentive planners.

Regional Hub Competition (Singapore, Bangkok)

Singapore is strategically targeting MICE receipts of USD 50 billion by 2040, leveraging the development of a new downtown precinct designed to significantly enhance exhibition space capacity. The successful bid for hosting the Herbalife Extravaganza 2026 demonstrates Singapore's competitive edge and influence in attracting large-scale international events. In contrast, Bangkok is strengthening its position by offering venue-rental rebates and capitalizing on its robust airline connectivity, which includes direct long-haul routes, to attract global MICE participants. Vietnam, on the other hand, is adopting a cost-competitive approach by pricing full-service delegate packages to rival Singapore. However, the country's MICE market faces challenges, particularly in tier-2 cities where limited 4G infrastructure restricts the feasibility of high-tech demonstrations. The growth trajectory of Vietnam's MICE sector will depend on its ability to rapidly address service-quality deficiencies while competitors work to reduce their price premiums.

Limited Tier-2 Venue Capacity

Cities like Hue and Quy Nhon host fewer than five properties capable of seating 500+ delegates, forcing large congresses back to Ho Chi Minh City or Hanoi and inflating logistics by up to 18%. Dong Hoi Airport’s operating capacity of 3 million domestic passengers/year, set to process 1,200 passengers per hour from 2027, will alleviate capacity but leaves a near-term gap. Multi-leg journeys into secondary cities stretch European travel times beyond 12 hours, breaching comfort thresholds for two-day meetings. Developers enjoy land-lease discounts, yet seasonality curtails year-round occupancy and thus ROI. Hotel chains like Fusion and Prince retrofit mid-scale properties into flex-space venues, but supply still trails fast-rising demand curves in the Vietnam MICE market.

Segment Analysis

By Event Type: Meetings Dominate, Exhibitions Accelerate

In 2024, meetings represented 45.25% of the Vietnam MICE market, driven by substantial foreign direct investment (FDI) inflows that facilitated corporate and policy-related gatherings. Ho Chi Minh City and Hanoi solidified their positions as key market hubs, leveraging their roles as centres of government operations and corporate headquarters. Exhibitions are forecasted to grow at a CAGR of 8.24%, underscoring Vietnam's strategic transition toward a knowledge-based economy. This growth is further supported by investments in advanced infrastructure, such as the 22,000 m² column-free exhibition hall at WTC Binh Duong. Vietnam Expo 2025 is expected to attract participation from 400 companies across 18 countries, with a thematic focus on digital transformation and renewable energy, aligning with global supply chain realignments and sustainability trends.

The growth of the exhibition segment is driving significant economic contributions to ancillary sectors, including accommodation, advertising, and food and beverage services, thereby reinforcing the Vietnam MICE market's interconnected ecosystem. Meetings remain a critical driver of weekday demand, generating stable room bookings that support the expansion strategies of major hospitality brands such as Marriott and IHG. Additionally, Vietnam's competitive advantages, including its rich cultural offerings and cost-efficient pricing, are being strategically leveraged to enhance incentive travel programs. These programs play a pivotal role in optimizing off-peak occupancy rates, diversifying revenue streams, and strengthening the overall market positioning of Vietnam as a leading MICE destination.

Note: Segment shares of all individual segments available upon report purchase

By Source of Revenue: Digital Channels Unlock New Yields

In 2024, the Vietnam MICE market observed tickets and registration fees accounting for 42.36% of the total market size. This was primarily attributed to event organizers optimizing tiered pricing strategies and implementing VIP upselling techniques to maximize revenue streams. Accommodation represented the second-largest revenue segment, with major players such as Marriott and IHG focusing on expanding their upscale room inventory by 2026 to meet the increasing demand for premium lodging options among business travellers and event attendees. Advertising showcased a strong growth trajectory, recording a CAGR of 8.87% through 2030. This growth was underpinned by Eventista's innovative use of over 10 million transactions, which effectively transformed livestreams into high-value sponsorship opportunities, thereby enhancing advertising revenue potential.

The integration of hybrid event architectures further amplified advertising reach while reducing venue-related expenses. This approach enabled event planners to create comprehensive bundled offerings, combining physical tickets with digital access, branded merchandise, and on-demand session replays, thereby delivering enhanced value to attendees and sponsors alike. Furthermore, food and beverage revenues experienced notable growth, driven by the strategic inclusion of curated Vietnamese cuisine. This initiative catered to the preferences of international delegates seeking authentic and premium culinary experiences, allowing organizers to command higher margins and significantly increase the average spending per attendee within the Vietnam MICE market.

By Industry Participant: Corporate Scale, Association Velocity

In 2024, corporate entities represented 51.13% of Vietnam's MICE market, primarily driven by the country's streamlined visa policies and cost advantages, which have made it an attractive hub for regional headquarters meetings. The government and public sector maintained a significant presence, with large-scale events such as APEC 2027 preparations contributing to long-term venue bookings and bolstering the market's stability. Associations and NGOs are projected to grow at a CAGR of 6.75%, capitalizing on Vietnam's neutrality, affordability, and expanding convention infrastructure. This growth trajectory is further highlighted by the UN Vesak Celebration in 2025, which is expected to draw participants from 80 countries, showcasing Vietnam's ability to host international events.

The corporate segment's dominance ensures a stable baseline demand, enabling effective airline seat capacity planning and providing consistent revenue streams for service providers. At the same time, associations and NGOs diversify the market and contribute to filling shoulder seasons, optimizing venue utilization throughout the year. Suppliers who adopt international standards for accessibility and sustainability in their venues are strategically positioned to capture demand from both corporate and association segments, thereby enhancing their competitiveness in Vietnam's evolving MICE market.

Note: Segment shares of all individual segments available upon report purchase

Geography Analysis

In 2024, Southern Vietnam captured 48.22% of Vietnam's MICE market share, driven by the strategic merger of Ho Chi Minh City with Binh Duong and Ba Ria-Vung Tau. This integration has unlocked 681 potential destinations, creating a robust combination of urban venues and coastal incentives that significantly enhance the region's attractiveness for meetings, incentives, conferences, and exhibitions. The presence of flagship properties, such as the JW Marriott Saigon with 1,200 m² of conference space, has further solidified the region's position as a luxury MICE destination. These developments have enabled Southern Vietnam to attract a steady influx of regional product launches and corporate events, reinforcing its dominance in the market.

Central Vietnam recorded the fastest growth rate, with a 7.19% CAGR, supported by Da Nang's emergence as a high-tech hub and its strategic proximity to UNESCO World Heritage sites. Investments in infrastructure, such as the upgraded facilities at Pullman Danang, have enhanced the region's capacity to host large-scale events. Additionally, Hue's adoption of digital and green tourism initiatives has diversified the incentive offerings, making the region more appealing to MICE delegates. These advancements have also contributed to extended delegate stays, which positively impact the region's overall market performance and competitiveness.

Northern Vietnam experienced moderate growth, underpinned by the presence of Hanoi's National Convention Center and the planned development of high-speed rail infrastructure. These factors provide a foundation for steady expansion; however, the region faces notable challenges, including a shortage of skilled professionals and limited tier-2 capacity. These constraints are expected to persist until the completion of critical infrastructure projects, such as the high-speed rail, which is anticipated by 2028. Once operational, this infrastructure is likely to unlock additional growth opportunities and enhance Northern Vietnam's competitiveness in the MICE market.