INTRODUCTION


In terms of the state of the worldwide economy, 2012 will be remembered as the year when the wide variations in the global economic landscape, already apparent in 2011, considerably intensified. Economists are saying that we are now experiencing an ‘asymmetrical recovery’, meaning that while some parts of the world are seeing rapid growth levels, others are falling back towards or even into recession.


Much of the economic malaise comes as a direct result of the volatile economic situation in which Western Europe finds itself, as in today’s global economy what happens in one location has far-reaching impacts elsewhere – including in the emerging BRICS (Brazil, Russia, India, China and South Africa) nations.While policymakers around the world have responded differently to these threats, on balance the global response has been to increase austerity measures. What is not yet clear is whether austerity objectives will be able to deliver the renewal in confidence and growth that are needed to emerge from the current crisis.


The current and projected situation of the meetings, events and business travel sectors largely reflects the evolution of the global financial state, with the greatest growth being found in this sector being found in those destinations that are experiencing the highest levels of economic development. However, taken globally, the available evidence points to a conviction on the part of the market that the path to recovery, however asymmetrical, will continue to be followed in the year ahead.


This report brings together the most relevant and most recent data from a wide range of sources to provide a snapshot of our industry now and in the coming year. The consensus of these sources would appear to be that buyers and suppliers in our industry are successfully adapting to the ‘new normal’ and that even in world regions characterized by low growth or no growth, we can still look forward to another period of moderate expansion in meetings, events and business travel volume and spending in 2013.


Rob Davidson Industry Analyst EIBTM Trends Watch.


Reed Exhibitions | EIBTM Trends Watch Report 2012 2


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