Much like workers in other industries, meeting planners will need to do more next year, yet they will have fewer resources at their disposal.
According to the American Express Meetings & Events Global Meetings Forecast, released in early December, companies plan to book more meetings in 2012 but planners will be expected to creatively manage budgets and do more with less.
Specifically, of the meeting planners surveyed for the Forecast, 42 percent of North American, 50 percent of Latin American, 51 percent of European and 57 percent of Asian respondents see signs of increased activity from their clients. Additionally, 60 percent of meeting suppliers also expect the number of meetings planned to increase.
Higher travel and meeting costs are anticipated, driving the need for companies to focus on striking the right balance of cost effectiveness and impact when selecting venues, according to the Forecast, which was released at EIBTM, the global meetings and events exhibition held here.
Insight from meeting planners and hoteliers worldwide sheds light on the general characteristics of meetings next year that companies and organizations can use to get the maximum ROI for each gathering. Corporations are continuing to support meetings and are projected to increase overall meeting budgets, while the spending for individual meetings are expected to decrease or stay flat compared to 2011. According to the survey, one-third (33 percent) of hoteliers surveyed expect decreasing budgets per individual meeting, while only 7 percent expect increases.
Further, the number of attendees per meeting will likely decrease as will the number of days, according to 40 percent and 33 percent of suppliers, respectively. Also, suppliers indicated planners want meetings closer to their businesses, with 53 percent of their clients requesting more local meetings.
On the green front, hotel suppliers noted 47 percent of meeting clients have made green requests, or have requirements in that area. Meeting planners corroborated this trend with 73 percent indicating clients are showing increased interest in taking green measures. However, the desire to be green is not yet impacting property decisions.
And when it comes to resorts, planners are still gun-shy: the Meetings Forecast reveals a shift away from bookings in luxury or resort properties, with the exception of meetings within Asia Pacific and Latin America.
American Express officials applaud meeting planners’ efforts to stay within their budgets, while noting the need to consider what’s best for a group, first and foremost.
“As companies continue to operate in a cost-conscious environment, despite a growing need for meetings, it is important for meeting professionals to look for ways to optimize spend and ensure effectiveness,” said Issa Jouaneh, vice president and general manager.
However, he continues, “optimizing spend means not just knowing where money is being spent, but knowing when to spend. Evaluating each meeting and its goals is essential to delivering the strongest, most engaging meeting with the highest possible return on investment and experience, whether that is through an internal virtual meeting, or a face-to-face client event.”
