MPI Spring Meetings Outlook reports biggest growth expectations since 2015
The newly published Meeting Professionals International (MPI) Meetings OutlookTM, 2018 Spring Edition reports a healthy stable business landscape with industry professionals focusing on enhancing interaction and immersion.
Key findings include from the spring report include:
- 46.2% of respondents expect their business to be affected by the recent cuts to third-party planner commissions by several hotel companies, suggesting concern from numerous parts of the industry—not just third-party planners.
- 75% of respondents predict favourable business conditions, with a 3.9% growth expected over the next year — the largest anticipated growth since spring 2015.
- Of the various meeting and event components (other than actual meeting space), the largest budget allocations are for food and beverage (34.3% of budget), technology (16.8%) and housing (16.5%).
- Attendance at live and virtual events is expected to grow by 2.3% and 2.7%, respectively — both live and virtual event attendance expectations are up slightly over last quarter.
Meetings Outlook is developed in partnership with MGM Resorts International and supported in partnership with the IMEX Group. To view it in full, visit: www.mpiweb.org/meetingsoutlook