A survey has revealed the economic crisis is set to be the main concern of the worldwide meetings industry.
More than 64% of 700 corporate in-house planners and professional congress organisers (PCOs), from Europe, surveyed claimed that the economic climate and pressure to reduce costs are the key factors of influence this year.
When it came to budgets, 39% had already seen a decrease in finance for the year ahead; while 61% of respondents anticipated that their budget would increase (20%) or remain the same (41%).
Despite this, the ‘Mood of the Market’ research, conducted by The Right Solution in conjunction with Reed Travel Exhibitions, showed that a quarter of planners intended to organise more international meetings.
The USA was uncovered as the most popular meetings destination out of the Americas, with 40% of respondents having organised meetings there over the past 12 months.
Furthermore, despite the economic issues taking precedence, 86% stated that corporate social responsibility (CSR) and environmental policies would be extremely or somewhat influential over the next 10 years.
“This report provides a realistic snapshot of how meetings and event organisers are feeling about the industry and the extent to which events and business levels may be affected,” said Reed Travel Exhibitions group exhibition director, meetings and incentives events Paul Kennedy.
“There is no doubt that 2009 will be a challenging year for everyone in the meetings industry. It will be vital for events to offer a valuable and worthwhile use of time, which is also enjoyable and stimulating for all those attending,” he added.