How do professionals see 2011? Will their budget or their clients’ budget increase? This year the curve looks clearly better even though we should just keep the fingers crossed for awhile more. If more than a third professionals see unchanged market in 2011 as compared to 2010, and 10% even see a worsening of the situation, 55% foresee a pick up – a definite reason to rejoice. Even though the increase is still moderate, as only 11% foresee a growth higher than 20%, moving up is already moving in the right direction! These findings are in keeping with Rob Davidson’s Industry Trend Report presented on EIBTM show 2010, in which he mentioned that the worst is over and the market is poised for a slight recovery in 2011.
Effect of the recession: a smarter industry
What will be the durable effects of the recession? Will it change meeting industry in a significant way? The focus is on two positive changes in the way we work: more attention to content and higher importance of ROI. This industry is moving away from just organizing nice trips and celebrations and is focusing more on the real function and objectives of meetings. Other changes have their negative impact on our industry: less luxury, lower budgets and simpler setups.
More technology is also expected – a positive news, as any industry who integrates technology tends to improve its quality and productivity. Virtual meetings do not look like a threat for face-to-face.
Beyond the price tag, quality still matters
When money is tight, the eye goes directly to the price tag. Meeting professionals weighted five purchasing criteria when buying products or services for their meetings. The surprising verdict is that price came in third place. On first place was quality, followed by service. Brand weights relatively little. And again, Corporate Social Responsibility did not rank very well.
* EIBTM is the leading global event for the meetings and events industry, held in the vibrant business and tourism destination of Barcelona. The event delivers three days of focused access to a dynamic business environment, thought provoking professional education and business networks for Exhibitors, Hosted Buyers and Trade Visitors.