Meeting Professionals International has published the 2018 spring edition of Meetings Outlook. According to the report, a healthy, stable business landscape sees industry professionals focusing on cultivating the entire meeting experience, with an emphasis on enhancing interaction and immersion. Key findings include the following:
- 46.2 per cent of respondents expect their business to be affected by the recent cuts to third-party planner commissions by several hotel companies, suggesting concern from numerous parts of the industry, not just third-party planners.
- 75 per cent of respondents predict favorable business conditions, with a 3.9 per cent growth expected over the next year—the largest anticipated growth since spring 2015.
- Of the various meeting and event components (other than actual meeting space), the largest budget allocations are for food and beverage (34.3 per cent of budget), technology (16.8 per cent) and housing (16.5 per cent).
- Attendance at live and virtual events is expected to grow by 2.3 per cent and 2.7 per cent, respectively. Both live and virtual event attendance expectations are up slightly over last quarter.
To view the full report, visit www.mpiweb.org/meetingsoutlook. The report is also included in the print and digital versions of MPI’s May 2018 issue of Meeting Professional magazine. Meetings Outlook is developed in partnership with MGM Resorts International and supported in partnership with the IMEX Group. Meetings Outlook presents future industry trends and predictions from MPI members, including meeting professionals on MPI’s Business Research Panel. Every quarter, research firm Association Insights surveys the panel, asking a short series of quantitative questions related to the economy and a qualitative question regarding the individual’s professional outlook. Phone interviews are also conducted with randomly selected MPI members. The report provides a quarterly tracking of current business conditions and future outlooks.
Meeting Professionals International is the largest meeting and event industry association worldwide. The organization provides innovative and relevant education, networking opportunities and business exchanges, and acts as a prominent voice for the promotion and growth of the industry. MPI has a global community of 60,000 meeting and event professionals including more than 17,000 engaged members and its Plan Your Meetings audience. It has more than 90 chapters and clubs in 19 countries. “When we meet, we change the world.” www.mpiweb.org