FutureWatch
A Comparative Outlook on the Global Business of Meetings and Events
EXECUTIVE SUMMARY
Presented by:
FutureWatch
A Comparative Outlook on the Global Business of Meetings
1
Executive Summary
FutureWatch 2010 provides a compelling snapshot of an industry in transition, as meeting and event professionals develop the
methods, markets and best practices that will enable them to
survive and thrive in a uniquely tough economy.
This year’s FutureWatch, produced by Meeting Professionals
International (MPI) in partnership with American Express, drew
responses from 1,832 MPI members representing 39 countries
and 70 chapters and clubs, including 967 meeting and event
planners and 813 suppliers. The survey found initial signs of
cautious optimism about the industry’s prospects for 2010,
combined with a sense of realism about the new realities that
meetings and events will face.
Respondents predict that:
• Competitive pricing will be one of the main cornerstones of
the business relationships that underpin a successful event
and an effective industry.
• Planners and suppliers will both take a back-to-basics
approach to meeting and event transactions, in which value
and quality will consistently trump frills, extras, and special
deals.
• With more meetings located closer to home, fewer participants can expect to travel long distances to get onsite.
• The return on investment (ROI) that organizations receive
from the meetings they host will continue to be a major
preoccupation for meeting and event planners.
• Corporate social responsibility will be a continuing interest
for meeting and event professionals’ organizations, and a
potential differentiator for companies and associations
that can demonstrate a strong commitment to effective CSR
programs.
• Technology providers will find an enthusiastic market for
affordable Internet access at meeting facilities, and for
virtual and Web-based technologies that are becoming an
increasingly important part of the meetings mix.
A historical view of FutureWatch data shows the high degree
to which meeting professionals’ forward planning and overall
mindset are grounded in broader economic realities.
From 2004 to 2007, with the global economy booming and
organizations intent on extending their profile and influence,
meeting professionals foresaw moderate to dramatic growth
in all the industry’s leading indicators, including overall atten-
dance, planner budgets, spend per meeting and the number and
length of meetings.
In 2008, concern over an impending recession led respondents’
list of the issues that could affect the industry. With much of
the economy still riding high but storm clouds gathering around
global financial markets, FutureWatch respondents expressed
concern over economic trends, though they still predicted
23% growth in spend per meeting, the highest annual increase
between 2003 and 2010. Years of end-over-end growth possibly
resulted in budget momentum which defied economic uncertainty.
FutureWatch 2009 recorded a reverse in budgeting expectations. The worsening economy, followed by expected budget
cuts, became dominant concerns among respondents. Predictions by meetings professionals indicated declines in most every
measure of industry strength, including attendance, budgets,
number of meetings and length of meetings.
Between 2009 and 2010, FutureWatch, combined with ongoing
data from MPI’s Business Barometer, documented a dramatic
shift in meeting and event professionals’ perceptions of their
own industry and the surrounding economy, and in their strategies for sustaining their business volume, organizations and jobs.
For 2010, some economic confidence has returned, and, while
budget cuts are still a leading issue, meeting and event professionals’ focus on organizational resources and levels of job
responsibility shows that the reality of coping in a new economy
has begun to sink in. The majority of planners predict budget
cuts, more stringent budget controls, improved operating efficiencies, slight staff reductions, closer attention to value and
ROI and/or a general orientation toward doing more with less in
the coming year.
For the year ahead, a broad range of respondents agreed that
industry conditions will begin to improve in the second half
of 2010, or in 2011, with 41% of suppliers and 28% of planners
predicting gradual industry growth in 2010. Meeting and event
planners anticipate a 2.8% increase in meetings held and a 4.5%
increase in attendance over the next year. Spend per meeting
and overall budgets will be the slowest of the five indicators to
rebound.
Year to Year Trend in Projected Meeting Statistics
25%
20%
15%
10%
5%
0%
-5%
-10%
2006
Overall Attendance
Number of Meetings
2
2007
Planner Budgets
Length of Meeting
2008
Spend per Meeting
2009
2010
About MPI
Meeting Professionals International (MPI), the meeting and event
industry’s largest and most vibrant global community, helps our
members thrive by providing human connections to knowledge
and ideas, relationships and marketplaces. MPI membership is
comprised of more than 24,000 members belonging to 71 chapters and clubs worldwide.
For additional information, visit mpiweb.org.
Meeting Professionals
International Headquarters
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EMEA
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Middle East
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Education City,
Doha, Qatar
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L5N 1A6
Canada
tel +905-286-4807
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Asia Pacific
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tel +65-6496-5504
fax +65-6336-2263
Editorial Support
Bill Voegeli, President, Association Insights
Mitchell Beer, CMM, President and CEO,
The Conference Publishers Inc.
Special Thanks
American Express,
sponsor of MPI’s FutureWatch 2010
FutureWatch 2010 is an official supplement to the
January 2010 issue of One+, the official publication
of Meeting Professionals International.
Printed by RR Donnelley & Sons Company
© 2010, Meeting Professionals International
All Rights Reserved
FutureWatch
A Comparative Outlook on the Global Business of Meetings
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