What will the meetings industry look like in 2020?
As time marches on, a huge demographic shift is occurring in the business world, which naturally shakes down to the meetings industry. While the wheels of industry typically are powered by those in the 20-to-64 age range, many of those in the Baby Boom generation are choosing to stay on the job.
According to the Social Security Administration, the demographic growth-rate balance will really begin to shift starting in 2010, and by 2015 the 65-and-older age group will start to grow at a faster rate than the 20-to-64 age group. A 2004 study from the AARP—you know, those folks that track you down as soon as you turn 50 and remind you of your advancing age via the U.S. postal system—found that 79 percent of Boomers plan to work in some capacity during their retirement years.
Our Meetings 2020 story explores some of the ramifications of this shift, including professional education needs, program format and presentation styles. Included are some keen observations from meetings industry leaders such as strategist Joan Eisenstodt, technology wizard Corbin Ball, experiential events and trade show expert Charles W. Allen, and generational marketing consultant Ann A. Fishman, among others.
The consensus seems to be that the traditional trade shows and events of the past are nearing the end of their shelf life, requiring meeting planners to offer programs that run at a faster pace, feature increased customization to attendees and provide education and an overall experience that is only available at the show. In short, talking heads and plodding PowerPoint presentations are fast becoming yesterday’s news.
IACC has taken notice of the trend by creating a board associate position filled by a person from Generation X or Y. Appropriately enough, the new board associate, Warren Call from Michigan’s Crystal Mountain resort, is heading up the association’s Emerging Trends Task Force, which will report specifically on Generation X and Y consumer trends.
Also in this issue, make sure to wander over to page 34 and 35 to drink in our WOW! Fort Lauderdale spread, written by Florida/Caribbean Editor Lisa Simundson, who lives just south of Lauderdale.
We launched our WOW! sections this year to help give meeting planners a taste of the most jaw-dropping off-site venues and activity options available in selected destinations, and Fort Lauderdale never disappoints.
Of particular note is a hair-raising cocktail cruise offered by Galaxy Productions, featuring gun-toting, WaveRunner-riding hijackers who fight crewmembers in an attempt to commandeer the booze cruise. It’s enough to make you drop your Bahama Mama!
Finally, we polled a large number of our readers for our Societal Shift feature, covering the association meetings segment. The results point to more association planners using second-tier cities for their meetings, transitioning to electronic mediums for promotion and placing a greater emphasis on the professional development and education content in their programs.
Enjoy what I think is the best month of summer, and happy reading.
