Economic Impact of MICE Tourism in Slovak Republic

Abstract

The Meetings, Incentives, Conventions and Exhibitions (MICE) sector of tourism has been rapidly expanding until the world met COVID-19. Purpose of this research is to analyse and identify the economic impact of congress tourism as a part of MICE sector in Slovakia with regard on GDP and revenues of accommodation services. To achieve this, first, paper discusses the latest data in MICE tourism sector of Slovakia in comparison with other countries. To accomplish the main goal secondary data were collected and the variables were assessed. Correlation and regression analysis were used to analyse impact of MICE tourism towards on GDP in the country and revenues of accommodation services. The paper continues by discussing the results which revealed that there is a significant relationship between the number of events in MICE tourism and GDP of Slovakia. Apart from this, the results also show that there is no significant relationship between revenues of accommodation establishments in Slovak republic and average expenditure on trip for a business purpose. Lastly, this study presents an overview on the MICE tourism in Slovakia taking research results.