The “2020 Meeting & Events” report by Carlson Wagonlits Travel presents trends and changes related to the organization of meetings and events at an international level. In this post, the most relevant set of ideas and perspectives that CWT raises.
It is well known that the world of tourism is very changing, so the report focuses on the following areas:
Digital expansion is a fact. The number of web pages of events has increased by 52% compared to last year and the creation of mobile applications focused on these celebrations has doubled in just two years.
When it comes to technologies, the most outstanding and the ones that will have the most impact are autonomous learning and artificial intelligence. As a result, marketing companies are already taking advantage of these resources to create more effective content.
2. Social Responsibility
Sustainability is one of the keys from the environmental, economic and social level by 2020. The objective is to expand the concept to cover diversity and inclusion and even data privacy.
At the same time, it is proposed that the events not only have to focus on creating knowledge and business opportunities, they must also focus on providing benefits for communities worldwide.
3. Demand and prices
If we talk about figures, the meetings and events industry will grow by 8% in 2020 and it is estimated that air and hotel prices will experience an increase of 1.2% and 1.3% respectively worldwide during the year that comes.
On the other hand, the possibility of a gradual process of reduction of commissions obtained by travel agencies from hotels, as happened in the airline industry, is present.
Security and protection is increasingly taken into account by the organizers of meetings and events, which directly influences the management mode and the choice of destination at the time of its celebration.
Therefore, detailed risk analyzes are carried out to assess whether the chosen destinations cover the minimum security requirements.
In the current framework, the key factors that affect the projection of European destinations are economic stability, the importance of sustainability and the possibilities of offering value, emotion and inspiration.
As a result, the ranking presented by CWT, places London in first place followed by Frankfurt and Paris, reinforcing its positions with places such as the Red Bull MK-7 (Milton Keynes), the Hamburg Congress Center or the Expo Puerta de Versailles. In the case of the Spanish regions, Barcelona continues to be in the top ten with fifth place.
On the other hand, the report makes a selection of cities that are booming based on the offer of their rates compared to the first-tier cities. They are also destinations that are becoming more attractive due to an increase in facilities, including new hotels and M&E centers (meetings and events).
Once the changes have been exposed to date, we proceed to the analysis of future trends.
The meetings and events sector is an increasingly globalized market, with a growing consistency around how programs are planned.
The global trends for the near future are as follows:
1. The use of software and disruptive technologies continues to grow in the organization of all aspects of an event. For example, the creation of SMM (Strategic Meetings Management) programs.
2. Automation and a good definition of objectives are two very important factors for more efficient management and planning that reduce costs.
3. Mobile technology can be the perfect tool to motivate the participation of attendees and help organizers to improve the experience through applications that give them more visibility, real-time data and feedback.
4. 88% of Millennials’ experience is enriched by business trips, so by 2024, they will be the largest group of travelers in this sector and attending international meetings.
5. Generation Z will have a very substantial impact on the meetings and events industry over the next decade. This generation is known as a digital native because they have never lived without technology. This has provided them with a convenience in their use compared to previous generations. Therefore, the sector will have to adopt a constant technological renewal that meets its future needs.
6. Experiences are still in fashion. This new approach in the celebration of meetings and events seeks that the assistant get more involved with the content and interact with the rest of the participants in a natural way, through the personalization of group activities taking into account tastes and needs.
7. Incentive trips are also influenced by the generation of unforgettable experiences for employees, being increasingly related to socially responsible activities.