A major European Meetings Industry report presented at EIBTM by The Right Solution MD Sally Greenhill revealed that the ‘Mood of the Market’ was optimistic and upbeat, yet acknowledges there is a challenging year ahead for the sector.  The research, conducted by The Right Solution in conjunction with Reed Travel Exhibitions, surveyed 700 meetings industry professionals, including association and corporate in-house organisers and PCOs, from a range of countries across Europe. The results showed that 64% say the economic climate and pressure to reduce costs are the key factor of influence for next year.

However, 25 per cent of respondents were set to organise more international events in 2009, 9 per cent to organise more national events and 35 per cent set to keep events about the same as last year.  In terms of the number of delegates attending events in 2008, the research showed that they had either remained the same or increased over 2007.

When it came to budgets, 39% already see a decrease in budgets for next year yet a total of 60% of respondents anticipated their budgets to either increase 20% or remain the same (41%).

Despite the economic issues taking precedence 86% stated that CSR and environmental policies would be extremely or somewhat influential over the next ten years, with nearly half (46%) believing that their CSR policies impacted on all aspects of event organisation.
 
Although location was the top factor influencing venue selection, followed by price/value for money, quality of service is the next most important factor highlighting the importance of retaining service levels even when costs are under pressure. The research showed that respondents rated the content of an event and the cost of attending a meeting as less important than the appeal of the destination and the venue. These results may reflect the many different types of events that respondents were responsible for, which include incentives.  Celebrity speakers were considered far less important to delegates, perhaps down to the potential cost of employing them. For organisers based in Europe, 98% had held events in Europe in the last year.  Germany was ranked top, followed by Spain, Italy and France.  The UK came sixth, just below the USA, the most popular country outside Europe, followed by South Africa, Morooco and Egypt. Looking to the future, emerging meetings destinations such as the Philippines, Bulgaria and Trinidad and Tobago are now appearing as credible alternatives.
 
Commenting on the ‘Mood of the Market’ research Paul Kennedy, MBE, Group Exhibition Director, Meetings and Incentives Events, Reed Travel Exhibitions said: “There is no doubt that 2009 will be a challenging year for everyone in the meetings industry. 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 in the future.
 
“The mood is one of optimism despite concerns. It will be vital for events to offer a valuable and worthwhile use of time for all those attending, which is also enjoyable and stimulating, yet perceived as neither extravagant nor too exclusive in its appeal. It will require careful consideration of all options for destinations, travel methods, venues, content and speakers to achieve an appropriate balance.”

The Right Solution MD Sally Greenhill added: “Recession and economic slowdowns are nothing new; the meetings industry has weathered such storms before and can do so again.  The report shows that organisers have a positive outlook for 2009 on the whole, but will be looking more closely than ever at quality of service, no-frills destinations and real ROI from their events. The key to success in this environment will be for venues and destinations to work closely together to ensure an end-to-end package that exceeds buyer expectation and delivers real value at every opportunity.”