TTGmice February/March 2019 • 17
TRENDS TO WATCH
Incentive
travel
Association
meetings
Corporate
travel
Exhibitions
Rajeev Kohli Noor Ahmad Hamid Benson Tang Mark Cochrane
Budget increases
SITE partnered with the Incentive
Research Foundation (IRF) and
Financial and Insurance Confer-
ence Professionals (FICP) in 2018
to deliver the first-ever Incentive
Travel Industry Index represent-
ing the views of more than 1,000
senior incentive travel profession-
als in 86 countries.
Fifty-four per cent of buyers
predict the per person median in
2019 will be US$4,000 – same
as last year – but $1,000 more
than the 2016 figure. Per person
average for corporate buyers is
US$8,151 and per person average
for agencies is US$5,193. Some
companies are reporting per
person investments of as much
as $50,000. Greater love for legacy
We see more and more
international associations making
“legacy” a central part of their
thinking and activities. Creating
a lasting legacy has become
pivotal to their strategy, as many
associations begin to look beyond
traditional planning. The power of technology
Harnessing technology – artificial
intelligence, chatbots, blockchain,
etc – to manage corporate travel
is on the radar for travel manag-
ers to consider in 2019. Mergers and acquisition
Following Informa’s acquisition
of UBM and private equity firm,
Blackstone’s acquisition of Global
Sources, Clarion and PennWell,
2019 should be a year of more
deals both big and small.
SITE president 2016 and 2017,
joint managing director,
Creative Travel India
Rise in the number of qualifiers
Globally 65 per cent of all buyers
are increasing the number of
qualifiers – 58 per cent in US,
67 per cent in the EU and 73 per
cent in Asia. Incentive houses
reported a 71 per cent increase
in 2018 compared to 54 per cent
in 2017.
Inclusion in incentive travel
programmes
Eighty-six per cent of buyers
highlighted wellness – yoga,
healthy meals, etc – and wellness
at 86 per cent trumps corporate
social responsibility (CSR) at 74
per cent. CSR has fallen out of fa-
vour, in particular with corporate
buyers, down from 94 per cent in
2017 to 73 per cent in 2018).
Regional director,
Asia-Pacific, ICCA
Shift in role of meetings industry
Meetings once conceived as being
“part of tourism” are now seen as
delivering “economic and societal
impact”.
New focus of international
associations
They include knowledge or skill
transfer in developing countries,
building the local community,
advocating issues of relevance
or advancing future intellectual
leaders to leave a lasting positive
impact on the destinations they
visit.
This is the primary reason
why ICCA has collaborated with
BestCities Global Alliance to
launch the Incredible Impacts
Programme with the value of
meetings tagged in areas such
as legacy development, sustain-
ability and accessibility. Launched
in 2017, Incredible Impacts grants
are awarded to associations who
strive to ensure their events make
a difference.
Regional director,
Asia Association of Corporate
Travel Executives (ACTE)
The rise of millennials
By 2020, millennials will com-
prise half of the global workforce
and are forecast to account for
almost 50 per cent of corporate
travel spend. To enhance the
centricity of these travellers will
be paramount in 2019.
Rising trade tensions
According to the International
Monetary Fund, disputes between
the US and the rest of the world
could cost the global economy
US$430 billion. With the US “es-
pecially vulnerable” to escalating
tariffs, this could affect corporate
travel expenditure in 2019.
Regional manager,
Asia-Pacific, UFI The Global Asso-
ciation of the Exhibition Industry
Mega venues
NECC (National Exhibition and
Convention Center) opened
in Shanghai in 2015 adding
400,000m 2 to the market there.
In 2019, Shenzhen World will
boost that city’s capacity by an
incredible 500,000m 2 . India is
also, finally, adding significant
capacity in Mumbai and Delhi. Big
venues usually unlock big growth
in exhibitions.
South-east Asia’s potential
The exhibition markets in the
region from the large (in Thai-
land) to the small (in Cambodia
and Vietnam) have been posting
significant growth for more than
three years. We expect that to
continue in 2019 and beyond.