2009 Convention/Meeting Budget vs. 2008 Convention/Meeting Budget
Thirty-three percent reported slashed budgets in 2009 compared to 2008. The prior year, only 15 percent reported that they had a smaller budget to work with. About an equal percentage (39 percent) said their budgets remained the same.
INCREASED 12%
ANSWER 16%
NO
Projected 2010 Convention/ Meeting Budget vs. 2009 Convention/Meeting Budget
Twenty-one percent expected their convention/meeting budget to decrease in 2010 (compared to 29 percent who projected budget cuts in 2009), while half (compared to 42 percent in last year’s survey) expected no change.
EXPECT TO INCREASE
ANSWER 13% 15%
REMAINED THE SAME
39%
DECREASED 33%
EXPECT TO REMAIN THE SAME
50%
EXPECT TO DECREASE
21% NO
Mean: -3 percent compared to +1.8 percent in 2008
Operating Ratios Budget (With Exhibition)
Respondents indicated that the average total budget for their
largest 2009 event with an exhibition was $1.6 million (compared to $1.4 million in 2008).
Budget (Without Exhibition) Respondents indicated that the
average total budget for their largest 2009 event without an exhibition
was $934,330, up significantly from $778,000 in 2008.
“We have to figure out a way to become more flexible.We can’t react fast enough with iron-clad con- tracts and long-term booking when the economy changes. It takes months to go through negotiations with hotels and centers to adjust space or room blocks.We also have to figure out how to use technology (virtual components) to our advan- tage and not be scared that they are going to push us out of a job.”
Mean: -0.22 percent compared to -2.7 percent in 2008