'Optimistic' outlook for key client sectors in 2014

The meetings industry will see "moderate growth" in the UK and Europe in 2014, with a more optimistic outlook for the automotive, pharmaceutical and ICT sectors, according to an EIBTM report.

Rob Davidson of the University of Greenwich, London
Rob Davidson of the University of Greenwich, London

Speaking yesterday (19 November) at EIBTM 2013 in Barcelona, Rob Davidson, senior lecturer in event managment at the University of Greenwich, delivered his annual Trends report.

Key findings presented in the report included: a recovery in the corporate meeting sector; a significant increase in association conferences; a significant increase in optimism in the incentive travel sector; and an inversion of the global growth patterns seen since 2008, with advanced economies strengthening and emerging market economies slowing down.

He said: "There is an improvement in the global economy and a new optimism. When companies feel the economy has stabilised, they are much more likely to dip into their pockets. The recovery last year was fragile, but this year it has been slow but much more stable."

"The Eurozone countries are coming out of recession and there is a north-south divide, with northern countries doing much better.

"The BRIC economies – Brazil, Russia, India and China – have had a disappointing show in comparison to last year with growth slowing. However, they still have growth rates that we envy here in Europe.

"China began 2013 badly but bounced back in the second half of the year."

Key client sectors

Globally, the automotive market grew by 3% in 2013 and it is expected to grow by 4% in 2014.

In the US, new automotive jobs account for 30% of the expansion in manufacturing employment. China remains the global pace-setter.

Davidson said: "Sadly, in Europe, the outlook is less positive with more than half of European assembly plants under utilised."

The pharmaceutical market also saw growth, although not particularly in Europe, where the market dropped by 2%, and by 1% in the US.

 "The pharma market in China alone grew by 30%, although just because these companies are based in China, it does not mean that China is where they will hold their conferences and incentive trips," said Davidson.

"There is optimism in the ICT market too. There has been a huge growth in gadgets, which means companies are investing more than ever. The markets that have been earmarked as being the most promising are Canada, Mexico, South Korea and Brazil."

The US, China and India has sent the highest level of employment growth, which is important for our industry too.

‘CIVET’ nations

Davidson also highlighted the CIVET nations – Colombia, Indonesia, Vietnam, Egypt and Turkey – as a new group of countries that economists believe are set to emerge in the next decade. "These are the countries to watch. They have large, young populations with natural resources and are predicted to be the economic boomers of the next decade."

EIBTM 2013 runs from 19-21 November in Barcelona.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Pure Events appoints new business development director

Pure Events appoints new business development director

New hire will focus on broadening the agency's client base as it aims to work with more global companies.

16 ways to make conferences less wasteful

16 ways to make conferences less wasteful

Carbon-neutral events may not be possible yet, but there are big changes planners can make to help protect the planet.

5 of the world's most affordable cities for incentives

5 of the world's most affordable cities for incentives

To help you find luxury on a budget, here's a ranking of the world's most and least affordable capital cities to explore in a day.

Case study: Deviate Innovation Summit 2019

Case study: Deviate Innovation Summit 2019

The one-day summit in an unusual London location addressed the future of media consumption.

‘I’m sick of being asked why I’m charging’, says DMC manager

‘I’m sick of being asked why I’m charging’, says DMC manager

Event agencies and DMCs debate issues around cost and creativity during a panel discussion at C&IT’s Incentives Retreat.

New global MD for Ashfield Meetings & Events

New global MD for Ashfield Meetings & Events

Agency makes three appointments to its global leadership team, include HR and finance directors.

Planners want more crisis and security training

Planners want more crisis and security training

Event organisers concerned about their lack of preparation for serious incidents after November's terrorist attack at Fishmongers’ Hall.

The 2019 A-List FAM to Cork and Kerry

The 2019 A-List FAM to Cork and Kerry

Meet in Ireland treated the 2019 A-Listers to yoga, pony trekking and uileann pipes workshops.

‘A damaging lack of trust’: Can agencies and DMCs improve their relationship?

‘A damaging lack of trust’: Can agencies and DMCs improve their relationship?

Incentive planners and DMCs discuss the need for more transparency in their working relationship.

C&IT launches incentives survey

C&IT launches incentives survey

Want to be recognised as one of the UK’s top incentive agencies? Complete this quick survey by 31st January.

LATEST JOBS