Taking into account results from a recent survey amongst the leading buyers and meetings professionals across the globe, the IMEX Group’s predictions for the 2012 meetings, incentive travel and events market reveal a number of interesting themes.

Despite the turbulent economic backdrop of recent years, respondents to the survey announced that business is picking up, with globalisation on the increase. Comments indicated that whilst it has been a predominately conservative increase and mostly short-term focused, there had been a boost in business over the previous 12 months. In addition, there is a trend towards more – but smaller or shorter – meetings and events and slight growth in attendance at association meetings and events.

Anecdotal survey comments also suggest that interest from the corporate sector is returning and that demand for incentive travel is on the rise again. Increased globalisation in terms of planning and destination choice also came through in the survey. It is apparent that the definition of a ‘new’ or ‘emerging’ destination is broadening and increasingly dependent on a given buyer’s own location and experience. One buyer’s ‘emerging market’ will be another’s ‘long-time favorite’ and, as globalisation increases, so does buyer awareness of the full size and scope of the world market.

Another key theme highlighted in responses and, again, reflective of the current economic climate, is the importance of value and specifically the goal to achieve more for less. With  economic pressures across many world markets, the demand for ‘added value’ from buyers over the next 12+ months will remain. Convention centres and some hotels are leading the way with value-adds such as free wi-fi or green meeting consultancy services. The provision of educational content is a key theme, with organisations asked to provide this more than ever compared with previous years.

Environmental issues continue to be a significant focus in 2012. ‘Green supply-chain analysis’ and ‘responsible business’ are growing trends for the year ahead. We can expect to see more companies, networks and alliances emerge that make it easier for organisations to work together to achieve their green or CSR goals. Streamlining of green practices, benchmarks and certifications will also start to occur as knowledge and experience expands.

Social Media continues to grow in importance. For example, in the US 87.5% of respondents reported using LinkedIn for business, with Facebook at 70.8%, Twitter at 50%, and YouTube at 22.4%. Perhaps most importantly, 42.5% agreed or strongly agreed that the use of social media is helping them generate business. Buyers also reported a 50%+ increase in usage of social media in the past six months.

One of the biggest trends identified in the survey, particularly among associations, is the need to capture and leverage education content both during and after live events to extend the reach and benefit to attendees and members. Driven by a never-ending surge of internet, smartphone, and tablet use there has been a breathtaking and widespread desire for high quality, easily accessible knowledge-sharing and education ‘on-demand’. These developments mean that many in the industry have become both publishers and education-providers, not more so than in the social media sphere, and this is certainly a trend that will increase. The delivery of meetings and events industry education in an entertaining, interactive and diverse format, including an increasing cross-over of gaming technology or ‘gamification’, will also rise.

Finally, another trend crucial to the long-term health and success of the meetings industry is the ability to quantify and transparently communicate its economic value to a given country, region or city. The US led the way with its 2009 Economic Impact Study, whilst Mexico recently announced results of its own.

We expect numerous additional destinations to announce intentions to conduct similar research studies, which, in turn, will become increasingly important tools for political advocacy.

 

Ray Bloom

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