Perhaps contrary to what MCI Australia’s Ray Shaw comments are on a slowing business landscape the latest study from Reed Travel Exhibitions in Asia is predicting meetings growth.
The survey of 579 meetings industry buyers and sellers reports 62 per cent of buyers predict more events, and 72 per cent reporting they will be working with new destinations.
The study – the 2012 IBTM Global Meetings Industry Research China and Asia – was undertaken in conjunction with Reed Travel Exhibitions by Sally Greenhill, The Right Solution.
It found the region continues to offer huge potential for growth with an increase in volume of events, budgets and new destinations predicted.
When considering the buyers’ top ten countries of choice for holding events in Asia, China was most popular with 62 per cent of all participants selecting it as the most used destination. Hong Kong followed with 45.5 per cent and 35.9 per cent of respondents selected Thailand.
Sixty two per cent of buyers said that they would hold more events in the next 12 months (compared to the amount held in the previous 12 months). Twenty-five per cent said that they would hold the same amount of events.
Forty-eight per cent of respondents confirmed that they would have increased marketing budgets for the next 12 months, with 31 per cent saying they would remain the same.
“This could be due to the use of social media and new technologies with 77 per cent of buyers and 86 per cent of suppliers using social media to communicate and up to 30 per cent already providing apps,” the report says.
Seventy-two per cent of buyers also reported that they would be working with more new destinations; 22 per cent said that they would work with the same number of destinations; and only six per cent indicated they would work with fewer new destinations.
For full research results refer to the website.