What Does the Future Hold for Meetings & Events?
Let's take a look at the challenges and opportunities for the meetings and events industry, which will affect the way events are booked, planned and executed.
Coming out of the pandemic, fears that events might struggle to reclaim their audience surfaced. But today, the audience is returning and expected to increase beyond its 2019 peak. While this is great news, according to global hospitality group Accor, it also presents challenges and opportunities for the meetings and events industry that will affect the way events are booked, planned and executed.
“The total global meeting industry worldwide is forecast to be worth $1.78 billion by 2030,” says Sophie Hulgard, chief sales officer at Accor, citing Statista data. “That’s because being in a room with people matters — it’s powerful and it’s valuable.”
Accor recently released a report titled “Meeting Expectations: The Future of Meetings & Events” to address the transformation that the meetings and events sector is undergoing, and explore the shifts impacting the industry as it continues to evolve. The report revealed a need to focus on balance and belonging as the global meetings and events sector continues to recover and drive strategic growth for 2024 and beyond.
“The global business landscape is undergoing a profound transformation,” explains Hulgard. “The pandemic was a defining moment for the industry. We were thrust into a world of virtual gatherings, with in-person events grinding to a halt. Yet we adapted and evolved. That evolution continues today and the one thread that connects all the trends we forecast is the human connection. Today, more than ever, it is about the human need to meet, share and thrive.”
According to Accor Meetings & Events Industry Forecast survey data, continued growth is forecast across all meeting and event sizes in 2024:
The new Accor report additionally presents five trends expected to shape the growth of the industry:
Karelle Lamouche, chief commercial officer of Accor’s Premium, Midscale and Economy division, concludes, “The human connection goes with commercial success; it makes business stronger. As the industry continues to drive recovery globally, it is the commitment to forging meaningful connections, being a catalyst for commercial and cultural growth, and creating a sense of belonging that will ensure the sector exceeds its forecast growth. Travel is back, and for the meetings and events sector, it’s belonging and balance that will drive the bottom line in 2024.”
To download the report, click here.
|cookielawinfo-checkbox-analytics||11 months||This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".|
|cookielawinfo-checkbox-functional||11 months||The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".|
|cookielawinfo-checkbox-necessary||11 months||This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".|
|cookielawinfo-checkbox-others||11 months||This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.|
|cookielawinfo-checkbox-performance||11 months||This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".|