Yesterday, the American Express Meetings & Events 2013 Global Meetings Forecast, the annual report drawn up by American Express on the global market trend of meetings and events and trends in the sector for the next year, was presented at EIBTM, currently being held in Barcelona.
The results of the research are based on a survey and interviews conducted worldwide between meeting planners, buyers and service suppliers, with particular emphasis on accommodation facilities and hotels. The forecast examines predictions regarding budget, costs, number of meetings, lead times and other meetings-specific metrics by geographic market.
On a general level, as regards 2013, the study only revealed a significant growth for the Asia Pacific region both as regards spend (+4,2%) and number of meetings (6,4%). The North American market is likely to remain fairly stable while declines are forecast in Europe, Central and South America. In particular, as regards the Old Continent, a 2.3% decrease is forecast in number of meetings, a 6% decrease in overall meeting spend as well as an increase in costs related to hotels and air expenses.
“While Asia Pacific is likely to experience growth in 2013, as Europe sees declines, meeting professionals in every region point to budget challenges and the need to ascertain their companies’ own financial performance before they make investments in meetings as top influencers of their programs,” says Issa Jouaneh, Vice President and General Manager, American Express Meetings & Events. “As a result, one of the top emerging trends in the space is the shift to more local meetings. Meetings professionals are also preparing for group hotel and air expenses to rise next year”.
In addition to Top destinations for 2013 by each geographic area (in Europe these include London, Paris, Amsterdam, Barcelona and Brussels) the report also identified four global trends that are common across all markets: budget decreases with the consequent increase of national and local meetings; security and stability as determining factors in destination choices; the difficulty of gaining advance approval of events and the use of social media during the various stages of organization to increase the value of events.
This year, the Forecast also contains three special sections dedicated to key tactics that meeting planners are exploring to reduce costs and improve efficiency. Aspects considered include meeting payments, electronic requests for proposals and virtual meetings.
Tag: American Express Meetings & Events, report
Statistics and MICE researches