According to Issa Jouaneh, senior vice president and general manager of American Express Meetings & Events, new 2017 meeting predictions reflect mixed sentiments, from continued global expansion and growth to political and economic uncertainty that has resulted in safety concerns in some countries.
The annual American Express Meetings & Events report, designed to identify trends based on survey responses, suggest spending will likely be similar to 2016, while overall activity, including number of meetings or number of attendees per meeting, may see a decline.
“Across North America, organizations continue their global expansion efforts through organizational growth, as well as mergers and acquisitions,” Jouaneh said in the report. “This activity drives the need for additional training and internal meetings, as organizations require internal alignment in order to be successful.”
Jouaneh singled out the medical and pharmaceutical meetings world, for example, which has increased the number of conferences in order to address regulations associated with the Affordable Care Act.
Political uncertainty may be one reason for flat meeting predictions. Beyond the 2016 U.S. presidential election, European meetings and events are being influenced by Brexit and acts of terrorism. Germany is showing the most optimism, predicting overall meetings budget growth of 3.3 percent.
Global sporting events have helped fuel interest and traffic throughout Central and South America, although caution related to the Zika virus is expected to translate to lower demand for 2017.
There are three key areas to pay attention to with regards to meeting predictions in 2017:
Consolidation activity in the hotel space: Hotel consolidation is front of mind and a potential area of concern. While the impact of many of these mergers will take a while to be fully understood and realized, decision makers need to be prepared and plan ahead to ensure they are in the best possible position to navigate and benefit from the changing supplier environment, according to the American Express report.
Increasing urgency related to emergency readiness: The report provides insight into managing emergency situations, including the roles attendees, meeting owners and onsite planning teams can play in a comprehensive plan. With more incidents, from weather and worker strikes to acts of terrorism, impacting meetings today, this section provides suggestions on how to best prepare for the potential disruptions.
The future of talent in the meetings and events industry: The meetings and events industry is well suited to the interests of the new generation entering the workforce, providing flexibility, opportunities to travel and work in changing environments, and creativity.
Of course, technology continues to be a hot topic. Meetings management technology is a key focus as organizations look to improve the data collected from their programs and how they use that data to inform program decisions. Others are implementing technology to quantify spend. Mobile apps are not only helping with engagement, but also are used as measurement tool, providing immediate feedback and deep post-event insight.
“I remain optimistic about the increasing strategic role that meetings and events play in businesses of all sizes across all regions,” Jouaneh says. “Through this growing recognition of the value of our industry, we have a responsibility to continue to elevate the tools and resources that enable our efforts. As I work with customers around the globe, I also see an increase in the rigor applied to meetings to achieve meeting compliance requirements and to demonstrate the tremendous value meetings deliver. In an ever-globalizing world, face-to-face interaction continues to be the best way to make connections and get business done.”
