Three economic and demographic megatrends that will shape the locations for meetings in 2018 and beyond.
These 3 megatrends identified in the fourth annual Future 100 report from J. Walter Thompson’s Innovation Group will influence where organizations choose to meet in the future. In addition to travel trends, the report covers areas such as beauty, culture, F&B, luxury, tech and more. It can be downloaded for free here.
Spooked by stagnant audience figures, film companies are taking their franchises out of the confines of the big screen, and creating immersive theme parks and hotels inspired by the movies. Disney recently announced the opening of a Star Wars hotel in 2019 as part of its Star Wars: Galaxy’s Edge theme park at Disney’s Hollywood Studios in Orlando, Florida. Bob Chapek, Walt Disney Parks and Resorts chairman, described it as the park’s “most experiential concept ever…where a luxury resort meets a multi-day adventure.” The hotel will reportedly allow guests to mix with Star Wars characters, take part in missions, and learn to drive a spacecraft during a two-day narrative experience.
New cultural hubs
Locating new cultural hotspots will be less about finding undiscovered locales than regarding established cities through a new lens, thanks to the emergence of exciting new neighborhoods and cultural institutions. In Los Angeles, the 2017 opening of the Institute of Contemporary Art in the city’s downtown area created much buzz. Under the guidance of director Elsa Longhauser, the museum aims to “reflect the diversity of Los Angeles and the world, fostering critique of the familiar and empathy with the different.” Designed by wHY Architecture, the stark yellow and gray building makes an impression on the landscape. Koreatown has also received an infusion of cool with the opening of the Line Hotel on Wilshire Boulevard.
New Brexit capitals
As Brexit proceedings continue, new cities in Europe are set to gain prominence as financial and cultural capitals. Frankfurt, Amsterdam, Madrid and Dublin are all vying to become hubs for financial services ahead of the United Kingdom’s exit from the European Union in 2019, and its possible demotion from the position of the world’s leading financial capital. Frankfurt has emerged as the destination of choice for many London banks looking to relocate staff in order to continue serving European customers. Deutsche Bank predicts that 5,000 new residents might settle in Frankfurt as a result of Brexit-related job moves. Goldman Sachs and Silicon Valley Bank are both focusing on the German city. Not to be outdone, Paris is also vying for banks that are relocating. Where banks and people relocate, hotels will follow.