Event planners have been struggling with rising costs, and there is no sign of this improving until 2024, according to the latest Global Business Travel Forecast.
Speakers are tired of being treated like babies and they do not want to have to promote their own sessions as that is the event planner’s job. They want respectful, timely communication and have only a few expectations that many planners seem to ignore.
With a surge of pent-up demand and the need for hotels and other venues to bring in revenue, hidden fees are finding their way onto many meeting ledgers and planners are furious.
New research shows that meeting planning is impacted by inflation and rising costs in ways few anticipated. As a result, obstacles abound, from unfilled job openings to supply chain issues yet to be resolved.
How are planners and other meeting professionals preparing for a potential recession? They are tightening contracts, establishing advance payments, exploring new skills, and keeping up with their networks.
New data predicts a steady recovery for trade shows globally with almost all markets reaching two-thirds of 2019 revenue by the first half of 2023. Face-to-face meetings remain a priority as we overcome the direct impact of the Covid pandemic.
A revenue crunch is driving B2B trade shows to open up to consumers. This may be another way distributed workforces are forcing a blending of our professional and personal lives.