Davidson told audiences at the launch of the EIBTM 2010 Industry Trends and Market Share Report seminar that the pharmaceutical sector has helped the meetings industry greatly, adding that it is the closest sector to being recession proof.
"The automotive sector has not been so fortunate and has pulled events worldwide. In Britain however, people are still buying cars, partly thanks to government incentives. In the US, the motor industry is well below 2007 levels, and this is hitting meetings," he explained.
He went on to describe the meeting sector as highly image-conscious and focused on back to basics.
"Incentive travel is similar, with more corporates choosing to do fundraising activities with local charities and community projects," he added.
Elsewhere, falling budgets, rising costs and transport costs were cited as the biggest challenges facing the industry.