Global meeting planning trends for 2014, according to American Express
According to the 2014 Global Meetings Forecast from American Express Meetings & Events, per-company spending on meeting planning in all regions is expected to decline slightly or remain flat compared to the previous year. After two years of moderate increases in activity and budgets, the industry's activity is seen to be stabilizing.
Meeting planners responding to the American Express Meetings & Events survey identified the following trends and expectations for 2014 across all regions:
• Interaction via Social Media and Apps Increases.
According to a study by Google's “Our Mobile Planet”, since 2012 smartphone penetration has increased by 10 percentage points in most regions, and daily use of social networks is also increasing.
For 2014, American Express Meetings & Events forecasts a slight increase in all regions in the use of social media in meetings, due to the increasingly widespread use of mobile applications and social media, not only in personal but also in professional life.
With the improvement of meeting technology, meeting planners have shown an increased interest in the use of mobile apps, and a desire to understand their use in their professional meetings.
Currently, companies are in the process of selecting the right tools and vendors for these apps. In general, event planners are under increasing pressure to use social media and mobile apps before, during and after the event as a way to extend communication and connect attendees to each other in order to maximize meeting time and create opportunities to increase participant engagement.
• Continuing trend of controlling local and regional meeting budgets.
As budgets continue to be difficult to close, a key trend for organizers heading into 2014 is the demand for local meetings. Respondents reveal that companies will tend to host meetings in their region and, where possible, using their own facilities. Compliance with company policies, cost and time spent on travel are the main catalysts for this trend, as companies will continue to look for alternative ways to control costs and reduce time away from the office.
The meeting approval process is expected to become increasingly rigorous and difficult to obtain in all regions, both because of anticipated delays and the need to demand greater value for money in external meetings. Managers often have to approve meeting programs when the budget is higher than normal and above the usual number of attendees. This further delays the approval process.
To optimize costs in 2014, meeting planners will also incorporate group rates into their strategic meeting programs. This trend will mean a slight increase in group rates, both hotel and air, over 2013 rates. As meeting planners become more aware of the cost advantages and flexibility that these types of rates allow, they will gain more weight in the event planning process.
• Locations non-traditional.
Industry professionals interviewed for the 2013 survey already indicated they were seeking less traditional locations for meetings, such as outdoor locations, universities and aquariums. The 2014 survey results forecast similar trends, especially in Europe and Asia, with a 2.5 percent increase in the use of these types of spaces.