Global industry association Meeting Professionals International (MPI) is anticipating a healthy meetings market, with increases in employment, business conditions and both live and virtual attendance. The conclusion comes from MPI’s newly published summer 2017 edition of Meetings OutlookTM, the association’s quarterly report on the state of the industry.
The majority of respondents to the new report envision a seller’s market continuing throughout 2017 (70%) and into 2018 (69%) – although the strength of this swing is only slightly in favor of suppliers, nearly a balanced market. Other key findings include:
• 54% of respondents anticipate increased sponsorship budgets in 2018, compared to this year.
• Attendance at live and virtual events is expected to grow by 1.6% and 2.4%, respectively.
• 56% of respondents predict favourable business conditions – down since last quarter, suggesting some signs of slowing or uncertainty.
Meetings Outlook presents future industry trends and predictions from MPI members, including meeting professionals on MPI’s Business Research Panel. Every quarter, research firm Association Insights surveys the panel, asking a short series of quantitative questions related to the economy and a qualitative question regarding the individual’s professional outlook. Phone interviews are also conducted with randomly selected MPI members. The report provides a quarterly tracking of current business conditions and future outlooks.
Meetings Outlook is developed in partnership with MGM Resorts International and supported in partnership with the IMEX Group.
To view the full report, visit here.