European meeting spend expected to rise 2.1% despite 'Brexit instability'

American Express Meetings & Events 2020 Forecast also finds number of incentives increasing in North America.

Meeting professionals are bullish about 2020, as steady growth across all meeting types is predicted for the fifth consecutive year, according to the 2020 Global Meetings and Events Forecast.

The report by American Express Meetings & Events (M&E) found that overall European meeting spend is predicted to increase by 2.1%, and cost per attendee per day is expected to increase by 1.9% for incentives and special events.

However, is also found that meeting planners are facing challenges relating to GDPR and the political instability caused by Brexit.

The report also found that there are currently more meetings taking place than there is space available, which will create challenges for organisers and planners in future.

"Meetings and events have cemented their place as a critical driver of communications, growth, and engagement for organisations of all shapes and sizes," said Gerardo Tejado, general manager at American Express Meetings & Events. 

"The challenge for planners now lies in making more out of what they have—creating a seamless experience for meeting attendees, using technology for an authentic purpose, and meeting the demand for personalised experiences."

The report found that North America will see a modest 1.6% increase in overall event spend. There will still be more internal meetings than any other type of meeting, though the overall number is expected to fall from 30% to 25% of spend, in part because of more incentive trips happening. Incentives are expected to rise from 11% to 15% of meeting spend.   

In Asia Pacific total meeting spend for 2020 is predicted to rise across all regions, but by an average of just 1.3%. 

Survey respondents in Central and South America are predicting a stable year for the meetings and events industry, and this is the only region where projected budget increases could match the expected rate increases. 

Central & South America are also the most optimistic about planners’ abilities to incorporate technology to enhance their meeting experience, said the report.


For more features and breaking news, sign up to C&IT Magazine's daily News Tracker.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in

Hong Kong Convention Centre holds first event since lockdown

Hong Kong Convention Centre holds first event since lockdown

The venue put stringent hygiene measures and body temperature screening in place to hold a three-day exhibition.

One day left to enter the C&IT Awards Americas

One day left to enter the C&IT Awards Americas

As C&IT expands its reach globally, we've launched the C&IT Awards Americas to recognise the best in US events.

5 ways events are adapting to coronavirus restrictions

5 ways events are adapting to coronavirus restrictions

Marketing budgets remain intact for 75% of companies, finds research by event agency Pico.

LIVE UPDATES: Germany plans to end travel warnings for 31 European countries

LIVE UPDATES: Germany plans to end travel warnings for 31 European countries

Find out which countries are on partial or national lockdown, what travel restrictions are in place and what size gatherings are allowed.

Trio of agencies to run events at Birmingham 2022 Commonwealth Games

Trio of agencies to run events at Birmingham 2022 Commonwealth Games

DRPG, TBA and Outdoor Places Unusual Spaces among the companies running creative services for the international event.

Event planners need to rethink how they pitch for business

Event planners need to rethink how they pitch for business

Organisers have found new ways to engage with clients and keep in regular contact when events aren't taking place.

Fairmont posts funny videos of staff in empty hotels

Fairmont posts funny videos of staff in empty hotels

Two Canadian Fairmont hotels have found a creative outlet for talented staff members during the lockdown.

BVEP elects new chairperson

BVEP elects new chairperson

The Business Visits & Events Partnership has also set up a new executive committee to advocate for the industry.

'The industry needs strong leadership on sustainable change'

'The industry needs strong leadership on sustainable change'

Getting back to business as usual is no longer an option, says Selina Donald, founder of The Bulb.

Why online conferences are great for introverts

Why online conferences are great for introverts

The switch to digital events has been a bonus for less outgoing types, says founder of SaaStock.