A survey of 220 procurement, meetings and business travel managers has revealed that 69 per cent of meetings budgets have either remained static or declined in the last year.
Just over one fifth (23 per cent) have increased, and only slightly.
The survey was conducted by the Business Travel & Meetings Show in cooperation with leading business travel publications Buying Business Travel and ABTN.
Despite the obvious pressures facing organisations to make meetings spend work harder, 38 per cent of companies are still without a meetings policy, 80 per cent do not use technology to manage their meeting spend and 65 per cent are not involved in measuring meetings ROI.
Proof of budget-slashing is apparent in the fact that 42 per cent are using more travel alternatives, such as video conferencing, than they did a year ago; one quarter are managing more UK and short haul destination meetings and 71 per cent of those organising pre-meeting events, such as golf and spa days, are arranging fewer of them.
“The meetings market is not known as the final frontier in the travel industry for nothing,” remarked BTMS event director, David Chapple.
“Despite it being viewed as the rebellious teenager for many years, meetings management is becoming more mainstream and this survey suggests that traditional travel and procurement buyers now understand the benefits of introducing meetings policy, strategy, evaluation and technology."
"As for the meetings industry, it’s time the suppliers took note – there’s a whole new audience they can be doing business with.”
The Business Travel & Meetings Show takes place 8-9 February 2011, Earls Court 2, London, UK
