As part of the 20th Ho Chi Minh City International Travel Expo (ITE HCMC 2026), Ho Chi Minh City hosted a high-level tourism forum on August 27 centered on the theme “MICE Tourism in a New Era: Sustainability - Connectivity - Opportunities.” Industry delegates announced during the event that Vietnam’s MICE (meetings, incentives, conferences and exhibitions) tourism market is currently valued at approximately US$6 billion, unlocking vast strategic opportunities for destinations across the country.
Developing attractive tours and programs
Ho Chi Minh City’s MICE sector is experiencing vibrant visitor flows and expanding business opportunities, industry leaders reported at the 20th Ho Chi Minh City International Travel Expo (ITE HCMC 2026).
Airlines and travel enterprises have ramped up efforts to capture this momentum. Vietnam Airlines brought roughly eight famtrip delegations from markets including Japan, France, Australia, the United States, and Singapore to attend the event, survey local destinations, and meet with partners. Concurrently, companies like Saigontourist Group and Vietluxtour Travel reported a steady influx of international clients and partners exploring the market, evaluating tourism products, and forging new cooperative ventures.
Industry stakeholders attribute this growth to the country's rising global profile. Director Nguyen Van Hai of market development at Vinpearl Company noted that Vietnam is increasingly recognized as a destination with significant potential. Backed by robust infrastructure, natural resources, and a diverse tourism ecosystem, Ho Chi Minh City is uniquely positioned to cultivate high-quality MICE products.
Vietnam eyes US$6 billion MICE boom as regional leaders push for shared tourism space
Affirming the development vision, Minister of Culture, Sports and Tourism Lam Thi Phuong Thanh said MICE tourism is a strategic segment capable of leading tourism away from growth based on quantity toward quality, sustainability and high added value. As tourists increasingly value experiences, identity, technology and green development, destinations are compelled to compete through service quality, innovation and connectivity.
Citing data from international research organizations, Minister Lam Thi Phuong Thanh said the global MICE and business travel market is expected to exceed US$1.8 trillion in 2026 and reach US$2.4 trillion by 2031. Notably, MICE tourists spend three to six times more than ordinary tourists, stay longer and have a strong spillover effect on aviation, accommodation, transportation, food and dining, shopping, media and technology.
In Vietnam, the MICE market is currently approaching US$6 billion, making a significant contribution to total tourism industry revenue. “The Ministry of Culture, Sports and Tourism has identified its priority task for the coming period as creating mechanisms and policies to attract investment and large-scale MICE events to be held in Vietnam,” Minister Lam Thi Phuong Thanh emphasized.
Assessing that Southeast Asian countries have many advantages for developing MICE tourism, but that the individual potential of each destination alone is insufficient to compete globally, Deputy Prime Minister Pham Thi Thanh Tra called on countries to shift from “simple competition” to “creating a common MICE space” through connectivity among destinations, airlines and products. She also called for stronger development of multinational MICE itineraries and proactive sharing of standards, technology, data and human resources.
At the same time, MICE development must be linked with trade, investment, science and technology, cultural industries and innovation to create additional added value for the region as a whole. Deputy Prime Minister Pham Thi Thanh Tra expressed her hope that the tourism sectors of countries in the region would “move forward together,” strengthening links and cooperation to expand and elevate the regional MICE market on the global map.
Connectivity and cooperation key to enhancing competitiveness
ITE HCMC 2026 is organized by the Ho Chi Minh City People's Committee in coordination with the Vietnam National Authority of Tourism. The event opened on August 27 in Ho Chi Minh City and will run through August 29.
Under the theme “Vibrant Connections - Global Destinations,” ITE HCMC 2026 brings together more than 500 tourism units and brands and 260 international buyers from more than 35 countries and territories. The event aims to establish substantive connections, turn promotion into opportunities for cooperation, expand markets and create new growth momentum for tourism in Ho Chi Minh City in particular and Vietnam in general.
