Meeting Professionals International (MPI), the world’s largest meeting and event industry association, published its Summer 2020 Meetings Outlook, a future-focused quarterly report that identifies new trends and innovations. The publication allows planners to budget and plan accordingly and ensures a strong foundation for building sound strategies that keep businesses on paths to success.
The report reveals that many measurable aspects of the current and short-term events business are at record lows due to the impact of the pandemic. Despite the current situation, meeting professionals are struggling to cope yet optimistic due to their proven track record of innovation.
Key findings from the report include:
- Only 36% of respondents predict favorable business conditions; 59% anticipate unfavorable business conditions. These are the least favorable results in the history of the Meetings Outlook survey.
- Although industry professionals are regaining comfort with some aspects of the business, the majority of respondents remain uncomfortable with cruises (93%), attending large indoor events (83%), buffet dining (81%), international air travel (79%) and more.
- 75% of respondents say it’s a buyer’s market—a huge increase from last quarter’s 32%.
- Projected increase in in-person attendance has fallen to a record low (11% envision a positive landscape); projected increase in virtual event attendance has risen to a record high (87% envision a positive landscape).
“Meetings Outlook is a ‘must-have’ for event planners to remain abreast of current business conditions and industry trends and understand how those conditions and trends impact their meetings, their organization and their budgets,” said Jessie States, CMP, CMM, Director, MPI Academy for Meeting Professionals International. “This report is another example of the value that MPI brings members and the industry as a whole.”
Meetings Outlook presents future industry trends and predictions from MPI members, including meeting professionals on MPI’s Business Research Panel. Research is conducted in house using the Qualtrics survey platform. The research is conducted quarterly and provides current business conditions and future outlooks.
Meetings Outlook is developed in partnership with IMEX Group. The full report can be found at https://www.mpi.org/docs/default-source/meetings-outlook/meetings-outlook-summer-2020.pdf