The America Express Meetings Forecast identifies four distinct trends that are common across all markets:
Budget Challenges Mean More Local Meetings: To maintain current levels of meetings activity in an environment where budgets are likely not growing in step with costs, many companies are transitioning from global to national or from national to regional locations for more meetings. Also, there is a trend of holding meetings in unique destinations such as restaurants or aquariums for potential additional savings.
Security and Stability Impacting Destination Choice: A continued emphasis on duty of care is translating to a focus on safety and security amidst potential political instability when planning a meeting in 2013. Suppliers indicated that this can sometimes be an advantage; for instance, some major hotel brands located in regions with political instability said they are often chosen based on the perception amongst meeting planners that they offer a more consistent, higher level of security.
Meetings Approvals Becoming More Challenging: A significant portion of meeting planners in all regions indicated that gaining approvals for their meetings is becoming at least slightly more difficult. In addition, there is an emerging trend of meetings budgets not being approved until companies’ latest financial data is available. This dynamic is putting even more pressure on already reduced lead times and can negatively impact hotel negotiations, potentially leading to higher costs.
Increasing Engagement via Social Media: Meeting planners are responding to the expectations of today’s meeting attendees by employing social media to increase the value of events throughout their lifecycle. Leading up to events, planners are using social media to connect with attendees and to connect attendees to one another so they can maximize their time at an event. During events, social media is being used to drive even deeper connections and more immersive education sessions, presentation Q&A and other activities. After events, social media is also being used to extend event communities and foster connections made during events.
This year, the Forecast includes three special sections that explore key tactics planners are using to reduce costs and increase effectiveness. To obtain a full, complimentary copy of the Forecast, please visit www.americanexpress.com/meetingsandevents.