Event Economics

Economic Outlook- Meeting & Events Apprehension or Opportunity? 

Statistic Measure

According to a recent study by the United States Department of Labor  (Bureau of Labor Statistics), employment for planners of meetings, conferences and events will grow by 44% over a 10 year period. Then why is there uncertainty and apprehension about the2013 economic outlook?  

2013 will have its challenges...

  • Political and economic situation     
  • Financial reforms     
  • Tax changes    
  • Reduced Travel Initiatives 
  • Budget cuts

Despite all these obstacles the meeting & events industry forecasts continued sustainable growth opportunities this year.  How is that possible you might ask?  Creativity, Out of the Box Thinking, and Planning. 

Corporations and Associations alike see the value of a meeting.  Whether face to face or remote attendance, communication iscrucial to the survial of business and to our global economic climate.  Here are a few of the ways that planners areimplementing cost control strategies.

  • Regional Meetings- smaller groups,reduced travel, lodging, F&B 
  • Hybrid / Virtual Options- remote attendance, increasedparticipation, on-demand communications, sponsorship/revenue Opportunities 
  • Social Media- Q&A, virtual discussions, marketing, advertising, sponsorship, polling, contests, recognition
  • Smart Devices- Deliver meeting content, remote attendance anywhere / anytime, audience response systems (ARS), Social Media 
  • Technology- Decor enhancements, plasma screens for digital signage, customizable video decor backdropsinstead of printed signs 
  • Alternative Meeting Spaces- Historic venues,museums, country clubs, corporate atriums, and ballparks.

While 2013 will have it's challenges, the meeting professional will be an invaluable resource in supporting an organizations goals and objectives.  To achieve positive results it requires a positive person who is forward thinking.  The opportunities are limitless.

 2013 Jason Cataldi  IMS Event Technology