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Sri Lanka MICE Tourism Market Size 2022 Driving Factors, Industry Growth, Key Vendors and Forecasts to 2031

Kenneth Research added a report on Sri Lanka MICE Tourism Market into the repository of market research reports. The report includes in-depth analysis on the growth drivers, expansion opportunities, restraints and challenges and the recent trends in the market. The market is anticipated to grow at a CAGR of during the forecast period, i.e., 2022-2031, and garner USD US$ 285 Million revenue in the year 2025.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Sri Lanka MICE Tourism Market Products.

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According to the data by the World Bank, services attributed to 64.334% of the global gross domestic product (GDP) in 2019, up from 63.823% in 2018. Moreover, the service sector valued at USD 56.748 trillion in 2019. Service sector is the third tier of the three-sector economy. On the other hand, the rapid penetration of internet services, is further estimated to boost the market growth. According to the other World Bank data, 56.727% of the global population is using internet services, up from 49.907% in 2018.

Sri Lanka Meetings, Incentives, Conferences and Exhibitions (MICE) tourism market is expected to reach US$ 285 Million by 2025.

“Sri Lanka MICE Tourism Market: Current Trends, Opportunity, Growth Potential and Forecast to 2025” offers the most up–to–date industry data on the actual market situation and future outlook for Sri Lanka MICE tourism market. The report uses data and analysis to discuss potential lucrative opportunities and future trends related to Sri Lanka MICE travelers arrival, revenue and main destination markets. The report provides clear insight into current and future tourism developments of the Sri Lanka MICE tourism market. Furthermore, this report uses country focused analysis to explore Sri Lanka MICE tourism market.

A detailed country-wise analysis of the market is provided, covering a total of 20 countries. The research study limelight growth drivers and investigates market inhibitors on Sri Lanka MICE tourism market.

The countries included in this report are India, China, United Kingdom, Germany, Maldives, France, Australia, Russia, USA, Canada, Sweden, Indonesia, Singapore, Pakistan, Japan, Malaysia, Philippines, Thailand, South Korea, Bangladesh and other countries

Key Findings:

• Sri Lanka is emerging as the fastest growing MICE tourism market
• India, Maldives and China are the largest source market for Sri Lanka MICE Industry
• India is anticipated to register the fastest growth rate over the forecast period

The Latest Industry Data Included in this Report:

• Market Size & Analysis: Sri Lanka Inbound MICE Travelers Visitation & Spending (2017 – 2025)
• Sri Lanka Inbound MICE Travelers Visitation & Forecast (2017 – 2025)
• Sri Lanka Inbound MICE Travelers Spending & Forecast (2017 – 2025)
• Sri Lanka Inbound MICE Travelers Visitation & Spending Share & Y-o-Y Growth (%) (2017 – 2025)
• Major 20 Countries MICE Travelers Visitation in Sri Lanka & Forecast (2017 – 2025)
• Major 20 Countries MICE Travelers Spending in Sri Lanka & Forecast (2017 – 2025)
• Identification of Key Market Drivers and Inhibitors of the Sri Lanka Inbound MICE Tourism Market

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The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of Sri Lanka MICE Tourism Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Players
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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About Kenneth Research:

Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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