Declining support for events as attendance fall
The international meetings market is facing increased financial pressures arising from the global economic downturn, a new study has revealed.
The joint survey carried out by the International Congress & Convention Association (ICCA) and the IMEX Group painted a mixed picture, with a poor market sentiment in 2012, but a more positive outlook projected for next year.
The anticipated attendance at association meetings in 2012 was found to be worse than last year. Thirty-four percent of international association hosted buyers who attended the recent 10th IMEX in Frankfurt trade show said they expect a reduction in attendees in 2012 – significantly up from the 15% who said the same last year. Thirty-eight percent reported no change, while 28% expect a higher attendance for their 2012 events than in previous years.
This appears to be putting financial pressure on event. Almost half (49%) reported lower income from sponsors and exhibitions in 2012, while 34% showed no change, and just 14% saw increased financial support.
When asked if the continued global economic turbulence had any negative impact on their association or events in 2012, almost 60% answered “yes” – up from 43% in the 2011 survey. There does seem to be some positive sentiment however, with almost 22% of associations expecting to run more meetings in 2013 than in 2012, and only 11% planning to organise fewer meetings. In excess of 40% are still projecting higher attendances than in 2012, compared to just 10% who expect their delegate numbers to fall.