According to American Express Meetings & Events 2016 Global Meetings Forecast, continued growth is expected for the meetings industry in 2016!
This growth will come from positive economic trends combined with the global expansion of companies. Meeting organisers are expected to make an increase in their budgets, while hotels are simultaneously increasing their capacities in key cities. However, lead times remain tight, so if meeting organisers plan to secure a specific venue in a specific time plans have to be made properly in advance.
The 2016 Forecast also sees a growth in three particular areas in the meetings industry: compliance, incentives and social media for events. Though technology and mobile services continue to grow, meetings professionals still see a strong value in face-to-face meetings.
In North America, we will see an increase in all meeting types across the region. Especially training and internal meetings are expected to grow strong and rise more than any other meeting type next year. Attendance at events is also to expected to experience growth! This year meeting planners will also focus more on right audiences to ensure that attendance levels will stay high and further maximize return on investment.
In Europe, this years mantra is 'doing more with a little bit more' - a change from last years 'doing more with less'. A significant change from last year is that budgets are expected to grow, as companies are likely to spend more on meetings. Also, the size of meetings and events is slowly increasing across all meeting types.
In the Asia Pacific there are some differences in meetings predicitions across regions. Indonesia and South Korea will continue to build their infrastructure and enhancing tourism, which will have a positive effect on meeting activity. Countries like Japan and Australia are already very much established in the meetings industry. China continues to remain a top focus for global companies. While last year spending on meetings remained stable, this year spending is expected to grow.
Central and South American respondents also expect increased activity across all meeting types. The positive trend that began in 2015 is expected to persist next year as a result of economic growth in some countries, global sporting events attracting greater attention to specific countries in the region and the development of travel and meeting infrastructures across the broader region as a whole.