DALLAS
Meeting Professionals International (MPI) has published its Meetings Outlook, 2014 Fall Edition, with the newest installment of the quarterly special report showing increasing costs for services across the meeting and event spectrum; in concert with only slight budgetary growth, they project this as setting up a potentially challenging year ahead.
Key predictions for 2015 include the following:
- Costs will increase greater than budgets, with air travel costs (5 percent) and F&B/catering costs (4 percent) growing the most.
- Overall budget growth will be just 1.7 percent.
- Organizations are investing more in employees.
- Of all meeting types, training, educational events and sales meetings will grow the most.
- Incentives will also be on the rise after several weak years.
- Overall business for meeting and event professionals in the U.S. and Europe will grow at 3.2 percent and 3.6 percent, respectively.
A printed copy of the Meetings Outlook report is included in the November 2014 issue of MPI’s magazine, The Meeting Professional, which recently underwent a redesign.
Each quarter, MPI presents future industry trends and predictions from MPI members, including meeting professionals on MPI’s Business Research Panel. Research firm Association Insights surveys the panel, asking a short series of quantitative questions related to the economy and a qualitative question regarding the individual’s professional outlook.
Meetings Outlook is developed in partnership with the Dallas Convention & Visitors Bureau, and is supported in partnership with the IMEX Group. MPI membership is comprised of approximately 18,500 members belonging to 70 chapters and clubs worldwide.
