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In the eighth edition of its annual research, Meeting Professionals International (MPI) and American Express have released FutureWatch 2010 to highlight trends and competitive factors shaping the future of the global meeting and events industry.
“As our businesses shift from the mindset of survive to thrive, it’s imperative that we have the ability to analyze relevant data and translate it into business success,” says MPI Chief Executive Officer Bruce MacMillan, “The 2010 edition of FutureWatch empowers industry professionals with timely data they can utilize to make critical business decisions.”
FutureWatch highlights that the world-wide meeting and events industry is transitioning into an era of creativity, flexibility and strategic relationship building. Evaluating the global perspective of both planners and suppliers alike, some of the key trends identified include:
– Meetings located closer to home, fewer participants will travel long distances to get onsite.
– Performance that organizations receive from the meetings they host will continue to be a major focus for planners.
– Corporate social responsibility (CSR) will be a continuing interest for meetings and events professionals’ organisations, and a potential differentiator for companies and associations that can demonstrate a strong, sustainable commitment to effective CSR programs.
The in-depth report features insights into the overall outlook for 2010 as well as how planners and suppliers around the world are charged to do more with less. FutureWatch indicates that globally planners predict a 2.8 percent increase in meetings held and a 4.5 percent increase in attendance.
The report also profiles the variations in needs and expectations across Europe, Asia and the Americas. From the selection criteria of meeting locations to the importance of CSR in business decisions, FutureWatch is able to profile the expected needs of planners and suppliers in these various regions. One shift the 2010 research indicates is that suppliers in Europe, Middle East and Africa (EMEA) identify shorter lead times as the most significant trend for the coming year, followed by gradual industry growth and continued flat conditions.
FutureWatch also indicates that meeting planners and suppliers alike have a strong appetite for technology solutions, which is consistent with previous editions of the report. While evaluating 16 different areas of technology, planners rank the highest priority to improve the audiovisual experience for their participants, while suppliers’ highest priority is to improve their customer relationship management or CRM software.
TravelDailyNews Asia-Pacific editorial team has an experience of over 35 years in B2B travel journalism as well as in tourism & hospitality marketing and communications.
