Meetings & Events Industry In Europe Expected To Grow In 2014

– European Buyers optimistic with 54 percent predicting an increase in Conference and Events Business over the next 12 months
– 93 percent of European Suppliers predict volume of events will increase or stay the same over the next 12 months
– New technologies and use of Social Media becoming even more prominent in Meetings and Events

The IBTM Global Research, presented at the recent EIBTM 2013, the leading global event for the meetings and events industry in Barcelona, Spain, revealed an increased level of optimism from European Buyers and suppliers, with 93 percent of all buyer respondents predicting that conference and events business in Europe would either increase or stay the same over the next 12 months, compared with 86 percent in the last 12 months.

The research also revealed that suppliers too, were positive about the outlook for the meetings and events industry in 2014, with 93 percent of European respondents predicting that the volume of events will increase or stay the same over the next 12 months. Further to this, 57 percent of suppliers believed that buyers are looking to place business in a new destination over the next 12 months.

Global economy will not impact conference business in 2014

The research illustrates just how strong the flow of inbound and outbound business is for Europe, with the impact of economic problems in the Eurozone and elsewhere in recent years beginning to wane. For the first time in recent years, the survey predicts that the global economy will not impact conference business in the next 12 months.

Buyers top 10 countries for events in Europe by volume and those forecast for the next 12 months include Spain, Italy, Switzerland, United Kingdom, France, Germany, Russia, Ukraine, Netherlands and Turkey.

Key factors influencing venue and destination choice included location, quality of service price/value for money and ease of access. Compliance with industry criteria was also rated as a high priority.

High Use of social media

The research also revealed the high use of new technologies and forms of communication during events with 65 percent using social media to communicate before, during or after meetings and 42 percent of meeting planners are also now handing out smartphones or tablets to provide delegates with information during conferences.

Supplier research supports these findings with 53 percent of them agreeing that new technologies are adding creative options for events. Social media also evidently provides an invaluable communication tool for suppliers with 85 percent of suppliers using Facebook, 72 percent using Twitter and 68 percent using LinkedIn to communicate company information.

The report is also available online at www.ibtmevents.com.