As the year draws to a close, predictions for the outlook for next year are coming thick and fast – and the road ahead looks good.
CWT Meetings & Events in its annual industry report Meetings and Events Future Trends says that the overall cost for attendees per day will continue to rise.
“Costs are rising in key M&E markets, globally,” said Cindy Fisher, senior vice president and global head, CWT M&E. “With a 3.7 per cent increase in hotels and 3.5 per cent rise in air fares projected for the coming year, that trend is likely to continue.”
The top international destinations for meetings and events this year have been Paris, Sao Paulo and Rio de Janeiro. Locally in Asia-Pacific, the cost for attendees increased by 5 per cent this year, with Sydney coming second after Singapore as the most popular destination.
Business Travel News has reported that by 2020, Millennials will make up 40 per cent of the workforce, which will continue to be a massive influence on shaping the industry now and in the years to come. The digital space will continue to be the central focus of events and being utilised in new ways, from live streaming presentations and using remote speakers, through to engaging through marketing, data collection, digital registration and more.
Venues are also becoming less traditional, with a greater presence of outdoor spaces or unusual locations which can make a massive difference to attendee experience, particularly when incorporating group or team-building activities.
There’s also a continuing trend to boost connections with the local area. Event managers Pacific Travel says attendees are increasingly more experienced travellers who are looking for that special, personal touch from their location to give them a more fulfilling experience and a sense of the area’s culture and heritage.