Russian C&I market survey reports "cautious optimism"

Delegate numbers set to rise but budgets to fall, study says

Last year's Moscow International MICE Forum
Last year's Moscow International MICE Forum

A survey of the Russian events sector has revealed cautious optimism for the market, despite the unstable state of its economy, with delegate increases but lower budgets.

The report surveyed Russian corporate buyers ahead of the Moscow International MICE Forum on March 17.

Forum organiser Kim Waddoup said that while Russia "has been affected by the global downturn with a substantial loss on the country's stock exchange, as an emerging market, businesses in general are confident that it will be a relatively short situation that will improve within the next months".

Key findings include:

  • 57% of corporate buyers indicated the number of delegates travelling in 2009 will increase
  • 55% indicated that the value of C&I travel in 2009 will be reduced
  • 45% indicated that the value of C&I travel in 2009 will remain the same

"The general consensus amongst corporate buyers indicated that the number of delegates travelling on incentives and conventions may actually grow as Russian companies realise the importance of International trade contact and as incentives are offered to staff to improve sales in this competitive environment," Waddoup commented.

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