47 INDUSTRY m&e v2 2/12/08 15:02 Page 47
industry report – M&E 47
Meeting & events
slowing down growth
Agents reveal that M&E bookings have fallen dramatically this year against
last year’s results, and TMCs are experiencing a comparable decline in the sector
reflecting the global economic climate, but there is optimism for the future
he growth of meetings and events bookings
T
Meetings & events bookings
has slowed in 2008, according to survey
respondents. Last year’s survey showed that 8:1. Do you book meetings and events?
almost 65% of our agent readers said they yes 2007: 45% 2008: 40%
had experienced an increase in the volume no 2007: 55% 2008: 60%
of M&E bookings. That number has fallen this year to
26%, with nearly 70% saying bookings have remained 8:2. Are you planning to book meetings and events in the
the same. next 12 months?
Paula Elliot-Smale, managing director of London- yes 2007: 69% 2008: 39%
based Strand Travel believes the M&E sector will IT DOESN’T TAKE no 2007: 31% 2008: 61%
eventually recover from its temporary decline.
A GENIUS TO
“It not a surprise to hear that M&E bookings have 8:3. What percentage of your overall business travel
slowed, and it doesn’t take a genius to work out the
WORK OUT THE
bookings consists of meetings and events?
economy is to blame,” Elliot-Smale said.
ECONOMY IS
less than 10% 2007: 88% 2008: 81%
“We have found that companies will continue to hold
annual domestic meetings but will cut back on foreign
TO BLAME
11–25% 2007: 8% 2008: 14%
26–50% 2007: 3% 2008: 4%
incentive travel. But like all sectors of business it should 51% + 2007: 2% 2008: 1%
come out stronger at the other end,” she added. Elliot
Smale said M&E remains a lucrative business to get into 8:4. Has the number of meetings and events bookings you’ve
though it can be very time consuming and laboursome. made in the past 12 months increased or decreased?
The number of TMCs booking M&E has fallen 5% in increased 2007: 63% 2008: 26%
the last year from 45 to 40% further demonstrating that decreased 2007: 4% 2008: 5%
the sector is in decline. stayed the same 2007: 33% 2008: 69%
The number of agencies planning on booking M&E in
the next 12 months has also fallen from 69% last year
to 39%. L52159
8:4. HAVE MEETINGS AND EVENTS BOOKINGS INCREASED,
DECREASED OR STAYED THE SAME?
■ Increased
■ Decreased
26% ■ Stayed the same
5%
69%
ttgbusiness.com ❖ industry report 2008
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