Convene Magazine conducted their 28th Annual Meetings Market Survey and released the report to get a snapshot of the overall meetings industry. Here are a few points that I found of interest:
Budget: Planners meeting budgets went up +2 percent vs. -1% in the 2017 survey.
Attendance: 2019 attendance projected is +4.4%.
Number of Meetings: 33% more meetings are expected in 2019.
Expenses: Planners are still being asked to cut back on expenses, the biggest categories: 63% on reducing F&B expenses and 47% for AV costs.
Planning: The average window for booking large meetings is 2.3 years and 10 months for small meetings. There was no change from the prior year.
Outsourcing: Event supply rentals were the top category of being outsourced followed by, 58% of app development and 43% would outsource housing.
You can read the entire article here.
Infographic below is from Convene's Meetings Market Survey was prepared for PCMA by Lewis Copulsky principal, Lewis & Clark. Graphics created by Point Five.
something to think about...
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