Saudi Gazette report

RIYADH — The opening day of the International MICE Summit (IMS24) witnessed the signing of 19 agreements and memoranda of understanding (MoUs) that are aimed to reshape the future of the global exhibitions and conventions sector, and make the Kingdom a major international destination for this vital sector.

The three-day International Meetings, Incentives, Conferences and Exhibitions (MICE) Summit is organized by the Saudi Conventions and Exhibitions General Authority. The first edition of the summit is being held at the Prince Mohammed bin Salman Nonprofit City (MiSK), with the participation of more than 1,000 global leaders of the exhibitions and conferences sector from 73 countries, with the aim of reshaping the future of the sector.

Addressing the summit, Fahd Al-Rasheed, chairman of the Board of Directors of the authority, said that the opening day of the summit witnessed great success, after three of the 10 largest international companies, specialized in organizing exhibitions, announced the opening of their offices in the Kingdom and the launch of 12 new events. "This is in addition to the signing of 4 memoranda of understanding (MoUs), which enhances the Kingdom's position as one of the leading destinations for the exhibitions and conferences sector worldwide," he said.

Al-Rasheed said that these announcements confirm the importance of the exhibitions and conventions sector, and its pivotal role as a catalyst for transformation. "This contributes to introducing the unprecedented size of opportunities provided by the Kingdom in pursuit of achieving the goals of the Kingdom’s Vision 2030, and the role of the sector in exploring innovative ideas, finding investment opportunities, and strengthening new partnerships across various sectors of the economy. IMS24 is showcasing the unprecedented investment opportunities that Saudi Arabia offers the global MICE industry, alongside the latest technologies and innovations that will drive the industry forward over the coming decades," Al-Rasheed said.

The summit witnessed the signing of 4 MoUs with the Ministry of Human Resources and Social Development, the Saudi Tourism Authority, the Events Investment Fund, and the National Events Center.

The list of keynote speakers on the first day of the summit included Minister of Tourism Ahmed Al-Khateeb, and former heads of government from the United Kingdom, Bulgaria, Italy, and Greece, in addition to leaders of the Global Association of the Exhibition Industry. (UFI), the International Congress and Convention Association (ICCA), the Global Sustainable Tourism Council (GSTC), and a number of executives from companies.

Organized around six thematic pillars, the summit will explore trends and opportunities in areas including talent and skill development, the economic impacts of MICE business models, borderless events, and MICE sustainability practices. It focuses on efforts to stimulate investment in the exhibitions and conferences sector, create innovative and future event spaces, and address global sustainability issues in the sector.