In 2024, most meeting planners will see their programs meet or exceed 2019 attendance levels. However, meetings, events, and incentives have changed significantly since then.
INSIGHT 1
A Maturing Industry
More businesses are implementing strategic, optimized planning policies; in a recent survey, 80% of companies had a policy in place, and one-third of those companies were actively optimizing those policies. The role of meeting planners is becoming more strategic, aligning meetings and events with corporate objectives and initiatives, including sustainability and corporate culture.
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The line between Travel Manager and Meeting Planner roles is getting blurrier. While the two are often companions to one another, they bring different perspectives and needs, especially depending on the nature of the event. For organizations without robust formal M&E services, their TMC can be a valuable resource in satisfying the full spectrum of stakeholders.
Stephen Russell, Director, Business Development
INSIGHT 2
Expanding Technology
COVID-19 forced the adoption of many technologies in meetings and events. While we’re glad to be meeting in person, some of the automation and reporting implemented for virtual events will continue to be valuable. Registration and other administrative work, attendee experience, and ROI tracking can all be enhanced by industry-specific technology.
INSIGHT 3
Economic Factors
Inflation is on meeting planners’ minds this year. This and other economic factors may have some organizations hosting fewer events, looking at alternative venues and accommodations, and reducing complementary activities and experiences. Meetings and events are also impacted by hotel industry trends, like staffing shortages.
Adapting to Industry Changes
Planning meetings, events, and incentive trips is more complex than ever before. Andrea Harris, Team Leader, Group & Meeting Travel, comments on yet another way M&E is changing, explaining “We are seeing an increase in demand for our services as companies invest more in smaller meetings driven by hybrid work environments and geographically separated teams.”
Successful adaptation to this and other industry trends requires strategic partners who understand what matters most to your leadership and travelers. If your organization relies on a trusted partner for corporate travel, consider consolidating corporate and group travel with a single partner for additional benefits, including:
- Better visibility into overall spend
- Increased access and efficiency when contracting with suppliers
- Combined program reporting and analysis
- Stronger duty of care support
