American Express Meetings & Events forecasts
The meetings & events industry can be optimistic about growth prospects next year, driven by increased competition in the supply chain for market share, and robust investments and a desire for consolidation of spend by buyers, according to 2018 Global Meetings and Events Forecast from American Express Meetings & Events.
Across the globe, the continued localisation of meetings programs will be a key trend next year, as meeting professionals seek to add flexibility and nuance to offerings that address specific market needs and drive program adoption. The link between compliance and security in today’s geopolitical landscape is another area of focus, with a special section on compliance challenges and risks associated with corporate meetings in China.
Technology is expected to continue its transformation of meetings and events in 2018, particularly on the end-to-end management of delivery and attendee experience. The potential of emerging technologies such as virtual reality (VR) and artificial intelligence (AI), and the ongoing development of mobile-app and hybrid-meeting solutions are creating innovation and value add opportunities for both meeting owners and attendees.
“Following the shifting sentiment in 2017, next year should be more positive around the world in terms of spend, number of meetings and attendees. Meanwhile, meeting owners are prioritising attendee experience and engagement over scale. As a result, we expect to see shorter, more focused meetings,” said Issa Jouaneh, Senior Vice President and General Manager, American Express Meetings & Events.
“Economic and geopolitical influences will continue to create uncertainty, but we anticipate ongoing industry resilience and continued focus on successful experiences,” added Jouaneh.
In Asia Pacific, Australia anticipates robust growth; the Forecast predicts an increase in both the amount of money spent on meetings and the number of attendees. Elsewhere, other countries have expressed reservations. The combined rise of hotel rates and falling meetings activities have led to budget constraints and the predicted increase in cost per attendee. For the year ahead, respondents indicated basic meetings management and support would be prioritised to better control meetings investment and showcase value.
The meetings industry in North America is particularly optimistic about growth opportunities. Overall, the amount of money spent is expected to rise, with increasing regional air fares, hotel rates and despite global budget constraints. Reflecting global sentiment, the key focus for meetings planners and owners will be prioritising the attendee experience. Cost per attendee expected to increase across most meeting types, and survey respondents indicate that investments will be dedicated to improving content and production and boosting attendance numbers. While activity levels between meeting types tend to be similar across the U.S. and Canada, respondents expect boosts in advisory and incentive meetings in Canada equalling 20% of total meetings, while in the US they remain at 10%.
In Europe, geopolitical uncertainty has led to country-specific variations in industry confidence. The United Kingdom (U.K.), Belgium and the Netherlands express the most optimism across several indicators. Respondents in the U.K. and Poland anticipate an increased in the amount of money spent on meetings, while those in other European countries predict decreasing or flat activity in 2018. With the exception of the U.K., European countries expect to spend less on attendees than the previous year. Cuts in meeting length and optional activities to compensate for rate increases will be sought across all regions. Europe stands out among other regions as countries consistently predict shorter meetings.
Central & South America
In Central & South America, industry growth is expected to be modest across most categories. Local governments and companies have been instrumental in promoting the region as a meetings destination, and regional meetings professionals predict increases in both meeting duration and attendance. Mexico and Colombia are becoming increasingly popular, but both face challenges with rising hotel rates and limited supply for large groups.
Now in its seventh edition, the 2018 Global Meetings and Events Forecast is based on a comprehensive survey of global meetings professionals and suppliers, extensive data, and in-depth interviews with planners, buyers and meeting, air and ground suppliers worldwide. The forecast, conducted by American Express Meetings & Events examines budgets, spend, the number of meetings, lead times and other industry specific metrics by geographic region. It also provides insight into key trends for 2018.
This year’s edition contains three sections:
- Corporate meetings in China: Outlining the risks of operating meetings in the region with suggestions for how to help mitigate risk.
- Benchmarking meetings programs: Global insight and information on how to improve a meetings management program.
- Event attendee personas: Global insight into desired outcomes and ways to design meetings to help attendees achieve desired goals.
Please click here to download the full report and access more content around the 2018 Global Meetings and Events Forecast.
About American Express Meetings & Events
American Express Meetings & Events, a division of American Express Global Business Travel, offers longstanding experience, expertise and leading capabilities spanning program implementation to budget optimisation to deliver powerful meetings and events experiences for clients. The global team is focused on meetings and events sourcing, planning, contract negotiations, budgeting, expense management, reporting and benchmarking, combined with strategic counsel and integration of leading technology. This end-to-end approach focuses on creating visibility, driving savings and enabling effective meeting experiences.
With more than 40 years in the industry and a presence in over 50 countries, American Express Meetings & Events is uniquely positioned to manage meetings and events locally, regionally, internationally and across the globe. American Express Meetings & Events works with local leaders to enhance its offering to clients.
American Express Meetings & Events was named to Meetings Net’s 2015, 2016 and 2017 “CMI 25” list, an annual directory of the largest and most influential full-service meeting and incentive travel management companies focused on the U.S. corporate meetings and incentives industry. To learn more about the services offered by American Express Meetings & Events, visit: https://www.amexglobalbusinesstravel.com/meetings-and-events/
About American Express Global Business Travel
American Express Global Business Travel (GBT) equips companies of all sizes with the insights, tools, services and expertise they need to keep their travellers informed, focused and productive while on the road. With approximately 12,000 employees and operations in nearly 120 countries worldwide, GBT empowers customers to take control of their travel programs, optimising the return on their travel and meetings investments, while, more importantly, providing extraordinary traveller care.
“American Express Meetings and Events” is a service provided by American Global Business Travel (GBT). GBT is a joint venture that is not wholly owned by American Express Company or any of its subsidiaries (American Express). “American Express Global Business Travel,” “American Express,” and the American Express logo are trademarks of American Express and are used under limited license.