M.I.C.E. stands for Meetings, Incentives, Conventions and Exhibitions/Events. The document defines each component and discusses the role of M.I.C.E. in the global and Philippine tourism industry. It notes that M.I.C.E. is a $300 billion global market and stable source of visitors for the Philippines. M.I.C.E. attendees spend more than average tourists and boost the retail industry. The Philippine government recognizes the importance of M.I.C.E. and passed the Tourism Act of 2009 to promote the country as a convention destination in Asia.