Meeting Professionals International (MPI) has released its 2013 Quarter 3 Business Barometer. Following is the executive summary from the report.
Employment continues to improve in the global meeting industry, as do economic conditions. With the exception of a few specific locations, marketplace uncertainty is giving way to the need to find more creative and efficient ways to deliver great experiences. Meeting professionals are turning to better uses of technology, more creative event and session formats and a better understanding of emerging tools in order to enhance attendee experiences.
U.S. and European meeting professionals are also more optimistic about the future. Europeans saw an increase in business of about 1.5 per cent over the last 12 months, but predict an increase of 3.6 per cent in the coming year. In the U.S., meeting professionals saw an increase of 2.7 per cent, but predict an improvement of four per cent into 2014. As for employment, the trend is up, with more full-time employment in Europe and more part-time and contract employment in the U.S.
International corporate business continues to be the greatest source of new activity in Europe. In the U.S., domestic association business is on the rise. Globally, government meetings continue their decline, due to austerity measures in Europe and the cutting of real and/or perceived excesses in the U.S.
MPI publishes the Business Barometer report to help its members and the broader meeting and event community understand how perceptions and realities of the economy affect decision-makers. The report includes current and predicted attendance trends, employment and budget statistics, and more. Individual issues of the Business Barometer are free for MPI members and cost $25 for non-members. To obtain a copy, please visit www.mpiweb.org/research.
The Business Barometer – Quarterly presents current industry trends and predictions from more than 300 senior 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. The survey provides a quarterly tracking of current business conditions and outlooks compared with actual business conditions and outlooks a year ago.