While meetings demand across the world is on the rise in 2012,activity is strongest in the Asia Pacific region, according to research recently conducted byAmerican Express Meetings & Events.
The research was based on a survey and in-depth interviews of meeting experts from acrossthe globe, including planners, buyers and hotel suppliers. Of the meeting planners surveyed,57% of respondents from the Asia Pacific region expect the number of meetings to increase thisyear, compared to 42% of North American, 50% of Latin American and 51% of Europeanrespondents. In addition, budgets within the region are also expected to increase, with 30% ofrespondents anticipating this trend, compared to just 20% globally.
Higher travel and meeting costs are anticipated, driving the need for companies to focus onstriking the right balance of cost effectiveness and meeting success when selecting venues,according to the inaugural American Express Meetings & Events 2012 Meetings Forecastreleased today, ahead of Asia Pacific Incentive & Meetings Expo (AIME) 2012 which openstomorrow in Melbourne.
“Meetings and event spend is often a good indicator of how companies connect with their clientsand prospects and well run meetings and events can be key drivers for growth,” said IssaJouaneh, Vice President, American Express Meetings & Events.
“In the case of the Asia Pacific region, meeting industry stakeholders report increased meetingnumbers and budget. This is largely driven by the continued growth of the local economies. We hope that this report helps meeting professionals and executives navigate this burgeoningactivity to make strategic and effective use of their meeting investment.”
Asia Pacific Meetings Profile: 2012
Insight from both meeting planners and hoteliers in the Asia Pacific region sheds light ongeneral characteristics of meetings next year. Companies and organisations can use thefollowing observations to get the maximum return on investment of each gathering: ï‚· Bigger meetings, with bigger budgets: Unlike the rest of the world, the number ofattendees per meeting in Asia Pacific is expected to increase, according to 43% ofrespondents. Additionally, while all other regions globally show a clear trend towardssmaller meetings budgets in 2012, 30% of respondents in Asia Pacific said that budgetswould increase. ï‚· Focus on compliance: Compliance, cost control, and the achievement of strategicobjectives will have a direct correlation to decisions made around meeting size,destination, property and spend as it relates to individual meeting elements.
ï‚· Venue selection: Whereas the rest of the world has seen a shift away from bookings inthe luxury or resort properties, there is not the same reluctance in the Asia Pacificregion. Companies in the region are also shifting towards resort locations – which couldcome in response to demand for large events. ï‚· More green: Globally, hotel suppliers noted 47% of meeting clients have greenrequirements for their events. Meeting planners corroborated this trend with 73%indicating clients are showing increasing interest in reporting green measures. This is not yet impacting property decisions.
“As companies in the region continue to increase activity in the meetings and event space, it iseven more important for them to manage costs – knowing where and when to spend money –as well as ensuring effectiveness. Evaluating whether meeting goals have been achieved isessential for building engaging and strong performing meetings whether they be held virtually orface-to-face”, said Jouaneh.