Corporate event organisers are predicting fewer live events and more ‘virtual’ meetings in the coming year as the recession continues to bite.
A survey of nearly 1000 people in the events industry across all sectors – one of the largest surveys carried out in the UK meetings industry - showed 70 per cent of corporate organisers and 64 per cent of intermediary agencies predict a growth in the number of virtual conferences such as webinars and a reduction in the number of live events in the coming year.
Fewer live events were forecast by 56 per cent of corporate buyers and 59 per cent of intermediary agencies while only 7 per cent of corporates predicted an increase in the number of live events in 2010.
The online survey was carried out among Meetings & Incentive Travel magazine’s readership and segmented the audience into corporates, associations, intermediaries and suppliers/venues.
The survey reflects declining budgets and a shrinking market in the corporate sector in particular while the association or not-for-profit sector shows continued resilience. Interestingly, suppliers were ‘behind the curve’ in their expectations, compared with the buyer fraternity.
Another surprise was the fact that all categories surveyed said location remains the most important criterion for venue selection, way ahead of price and value for money, despite the economic climate.
The full results of this survey will be published in the July/August issue of Meetings & Incentive Travel magazine
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