Iceland Travel, a leading destination management company in the Land of Fire and Ice, has joined the Ovation Global DMC Strategic Partnership Program.
MICE in Iceland
According to a KPMG analysis for Business Iceland released in December, tourism in Iceland related MICE generated approximately 30 billion Icelandic Kronur ($218,o23,254 USD) in 2022.
According to the report about 78,000 MICE attendees/participants visited the country, accounting for 4.6% of total number of foreign tourists in 2022. However, the revenue share of MICE tourists represents about 9.3%. According to KPMG’s calculations, revenues from each conference guest in Iceland are, on average, 2.1 times higher than the average tourist, and revenue from each incentive trip guest is 2.7 times higher.
“The KPMG analysis confirms the value of these groups for Icelandic tourism. Iceland is in an ideal position to target this market increasingly. Moreover, the requirements for hosting conferences in Iceland have improved greatly in recent years, although there is still room for improvement. These groups tend to emphasize destinations that value environmental and social sustainability, are safe, and are alternatives to ‘typical’ MICE locations. Among other indications, our strength is that the number of MICE projects in Iceland had already exceeded pre-pandemic levels by 2022, while most of our neighboring countries hope to achieve this benchmark by 2025 or 2026,” said Lína Petra Þórarinsdóttir, head of tourism at Business Iceland.