A study of the US meetings market reveals the majority prefer to run their events on home soil.
The IBTM global meetings industry research presented its first report on the Americas at AIBTM, a business events exhibition held in Baltimore in June.
The study of 327 respondents concluded that the majority of US business tends to stay in the United States. It further found that 40 per cent of respondents organised events in Europe, 22 per cent in Asia, and the remainder the Middle East, Africa and Australasia.
Combined the respondents organise more than 6600 events ranging in type from conferences to exhibitions, incentives, business travel and product launches. The most popular destinations in Europe included Spain, Italy, Germany, UK while in the Americas preferred destinations included the US, Mexico, Brazil and Argentina.
The use of new technologies, the rapid growth of social media, apps, QR codes and hybrid meetings are all seen as the major forms of communications and marketing as budgets have to be stretched. The use of social media to communicate before, during and after a meeting was highlighted by more than 82 per cent of respondents.
The key issues that will have the most impact on increasing meetings and events business in the future included economic conditions, for budgets to improve, rates, prices and cost issues, introduction of new destinations (value for money), political and government issues.
“This first US research highlights how there is a need for destinations to work harder in order to achieve business from the US outbound,” said Reed Travel Exhibitions’ Craig Moyes.
“Whilst it’s clear buyers and planners are looking for the safety of closer to home, it shows that they are prepared to go to the more “traditional destinations” as well, and are looking to also try new places that are perceived as value for money, to help their budgets do more.”
The IBTM research project for the global portfolio is to obtain information on buying trends and the major issues affecting destination choice in the meetings industry from year to year. It looks at where business is coming from and where it is going to, in terms of which regions, countries and states. It also extends into cites for certain individual regions such as the Middle East and China.
Next year’s AIBTM event is moving to Chicago.