8 Megatrends and the Generation Y Requirements Which Every Meetings Industry Player Should Be Aware Of

The term ‘megatrend’ was created by John Naisbitt, a U.S. trend researcher, who published a book with the same title in 1982. Thirty-two years later, the German Convention Bureau, their partners and the Institute for Futures Studies and Technology Assessment conducted a thorough study which showed some very precise trends regarding the meeting industry.

Every meeting professional should actually consider those trends very carefully, because the future is already here. Are you ready for it?

Here are the findings of the study and my insights regarding top 8 megatrends which should be implemented in your meeting industry business ASAP.

Megatrend nr. 1: Globalization and Internationalisation
Expectations are high, events become more international, meaning that we have to create the products and services suitable for participants from different cultures and religions. Food options (including halal, kosher, Indian etc.), necessary meetings breaks and locations for prayer or similar. This does not mean that we should change our identities, on the contrary, but those with strong intercultural skills and options will be more competitive

Megatrend nr. 2: “Peak Everything” – Shortage of Resources
Climate change, shortage of resources and stress from more directions affect many participants or speakers. Hence, the destinations, organizers, venues and service providers who do really care about sustainable production, green meetings and events will be the wanted ones or at least more in trend.

Megatrend nr. 3: Urbanisation – The City of the Future
In 2030 more than 60 % of the global population will be living in the cities. Hospitality, good organization, openness and tolerance, safety as well as a city’s appearance, cultural offers or special conditions of the surroundings will be decisive criteria for participants to come to your town/destination for an event.

Megatrend nr. 4: Demographic Change, Feminisation and Diversity
According to UN projections, the world’s population will be approx. 8.5 billion people by 2030. Further diversification is expected at meetings and events. Characteristics that are considered rather “feminine”, such as team spirit, social competence and multitasking skills are of high importance now. Women are highly educated, luckily equal to men in more and more countries, so do consider this trend within your own company and organization and when structuring an event. Demographic change also requires adaptations for people with disabilities or older people.

Megatrend nr. 5: Technology in Work and Life
Virtual events will not replace the “real ones”, but event technology, social media, real-time information and communication is a must. Classic event formats are changing, becoming out of date, so think about how to attract or engage the audience which often meets virtual reality, uses numerous interactive apps and expects much more technology than it used to be on the meetings not so long ago

Megatrend nr. 6: Sustainable Development
Only those destinations and service providers who work and live in a sustainable way, whatever it may be at your level, will be competitive and rewarded by the clients and event organizers. Sustainable event is the one designed, organized and implemented in a way that minimizes potential negative impacts and leaves a beneficiary legacy for the host community and everyone involved. Every company and individual should follow this UN’s definition and recommendations.

Megatrend nr. 7: Mobility of the Future
Buyers and participants consider destinations also according to their mobility options and costs. Different transportations solutions have to be created and offered. Bikes, e-bikes, segways, Uber, car sharing providers or similar might be a part of the solution in your destination. This new technology, like user-friendly applications showing best options, might also attract the participants.

Megatrend nr. 8: Security and Safety
From data security, via personal safety to overall security, it will become more and more important to clients. “Security and safety guarantee” might and should come from the whole community directly – each individual, firms and all institutions in charge are responsible and may create a pleasant and tolerant space, suitable for major international or global events.

Slaven Reljić

These extensive and complex trends are important to all of us, in terms of market analysis, product creation, content marketing and overall communication. Create your “own world”, but be aware of these trends, facts actually. You probably find yourself in one or more categories of megatrend, so don’t think the future is far away – it is already here and we have to make it a part of our business strategy.