The MPI Meetings Outlook report sees industry professionals focusing on improving the entire meeting experience, with an emphasis on enhancing interaction and immersion.
Key findings from the report include:
- 46.2% of respondents expect business to be hit by the recent cuts to third-party planner commissions by several hotel companies. It suggests concern from different parts of the industry and not just third-party planners
- 75% predict favourable business conditions, with a 3.9% growth expected over the next year - the biggest anticipated growth since spring 2015.
- Of meeting and event components (not including meeting space), the largest budgets are for food and beverage (34.3% of budget), technology (16.8%) and housing (16.5%)
- Event attendance - both live and virtual - is expected to grow by 2.3% and 2.7% respectively
The report added that while the majority of respondents across meeting and event roles "do not expect the recent hotel commission cuts to third-party planners to affect their business", the numbers saying they would be impacted by the change was "significantly greater than the percentage of third-party planner MPI members".
"This suggests concern from numerous parts of the industry - beyond just third-party planners," the report said.
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