Corporate events budgets to increase in 2023
THE AMERICAN EXPRESS MEETINGS & EVENTS GLOBAL FORECAST IS PREDICTING MORE IN-PERSON CONNECTIONS IN 2023 AS CORPORATE MEETINGS BUDGETS INCREASE AND INTERNAL MEETINGS LEAD THE GROWTH
M eeting professionals expect in-person events and budgets to increase in 2023 , according to the 12th annual Global Meetings & Events Forecast , produced by American Express Meetings & Events , a division of American Express Global Business Travel ( Amex GBT ).
The 2023 Forecast , launched 11 October , is based on a survey of 580 meetings and events ( M & E ) professionals across the value chain in 23 countries , as well as interviews with industry leaders .
Survey respondents are “ very optimistic ” about the future : two-thirds expect that the number of in-person events will return to pre-pandemic levels within 1-2 years . In North America , where respondents reported the highest percentage of completely remote workforces , internal and small and simple meetings have already surpassed 2019 levels .
Key findings from the report include :
• 77 % of respondents are optimistic about the health of the industry heading into 2023 ( rating eight or above out of 10 ) – a six-point increase compared to last year ’ s survey .
• 67 % said they believe the number of in-person events will return to pre-pandemic levels within 1-2 years , with internal and smaller meetings already exceeding 2019 levels in some regions .
• Budgets : 65 % said that overall M & E spend is increasing for 2023 . “ This Forecast reflects a renewed understanding of the value of meetings and events , and the critical role they play in building company culture and driving business ,” said Gerardo Tejado , general manager , American Express Meetings & Events .
“ The report also finds an industry taking lessons learned during the last few years to bring positive change , including in areas such as technology , well-being , sustainability and inclusivity ,” Tejado added .
Strong growth of in-person events Internal meetings continue to be a higher priority than they were pre-pandemic , as organisations see face-to-face interactions as key to improving productivity , connecting teams , reducing turnover and attracting top talent .
Survey respondents anticipate that in-person meetings and the number of event attendees will increase across the board , with 87 % of meetings expected to have an in-person component . Moreover , only 32 % of internal meetings are expected to be held on the corporate ’ s property , with 40 % being held in a different city from the office , and 45 % including overnight accommodation for attendees .
After two years of remote and hybrid arrangements , respondents also expressed growing virtual fatigue . Overall , a strong majority expect in-person M & E activity to be their main focus next year , with only 29 % of respondents in North America and 33 % in Europe expecting an increase in hybrid meetings .
“ Only 29 % of respondents in North America and 33 % in Europe are expecting an increase in hybrid meetings ”
Commitment to sustainability Sustainability also continues to be a priority for most M & E programmes in 2023 . Four in five respondents ( 80 %) say their organisation takes sustainability into account when planning events . Of those who say their organisation takes sustainability into account , 76 % say their organisation has a defined sustainable meetings programme strategy . Impactful practices cited include minimising paper usage ( 22 %), energy-saving and waste reduction measures ( 19 %) and booking green suppliers ( 18 %).
Diversity , equity & inclusion efforts Incorporating diversity , equity and inclusion ( DE & I ) into meetings and events was also a top priority for meeting professionals . Nearly nine in ten ( 87 %) respondents say their organisation or client actively strives to incorporate DE & I in their M & E programmes . These respondents say the top two ways they do this are by using diverse and minority-owned suppliers ( 29 %) and by providing an option to attend the event virtually ( 28 %).
North America In North America , where respondents reported the highest percentage of completely remote workforces , internal and small and simple meetings have already surpassed 2019 levels . Meeting planners in the North America region are seeing the highest increase in group rates for 2023 in both group air ( 7.8 %) and hotel ( 7.4 %) compared to other regions . North America is also the only region expecting a decrease in hotel room and meeting space availability .
Europe Europe had the second-highest number of respondents who say they expect in-person attendance numbers to revert to pre-pandemic levels in the near future ( 69 %), behind Latin America ( 78 %). Regarding taking sustainability into account in meetings and event
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