Plan Your Meetings

Meeting planners see signs of economic upswing

According to a recent Meetings Industry Association (MIA) study on the “real state of the economy,” 100 percent of corporate and government planners surveyed said their organizations have began to see signs of the economic recovery expected to end the recession. And 60 percent of all respondents, which include planners and suppliers, reported seeing signs of recovery in their own businesses.

The findings are a part of an ongoing series on the “Actual Impact of the Credit Crunch on the Conference and Events Market” conducted by the MIA, which measures industry performance by a number of indicative factors and emerging trends, such as shortened lead times for planning meetings and events.

With industry professionals hopeful about an improving economy, the focus is shifting more towards value and meeting effectiveness, rather than heavily focusing on cost. A previous survey in the series revealed that as the economy recovers, 37.2 percent of respondents believe that increasing yield will be one of their greatest challenges; while 15.3 percent felt it would be achieving value for their clients’ investment. However, 69.4 percent said their highest priority was delivering a high return on investment, specifically when selecting venues.

The survey results detail the performance and predicted performance of the industry over the prior six months and the next six months, as forecasted by planners and venues from all sectors of the industry.