“As virtual attendance at meetings popularizes, virtual-event technology will become more advanced.”
Carlson Wagonlit Travel released its 2017 Meetings & Events Forecast yesterday, noting that overall the events industry will continue to grow in 2017 as it heads into a buyer’s market. Here are five key findings from the forecast for planners to consider when planning and budgeting for next year:
North American Hotels to Surpass Demand
For the first time since 2009, the hotel supply in North America is expected to surpass demand. Meeting planners who are flexible with destinations and dates can take serious advantage of this market change.
Brazil Hotel Rates Expected to Decrease
Now that the World Cup and Olympics are over, the infrastructure that Brazil created to host these international events will be available at decreased rates due to a supply surplus.
F&B Prices on the Rise
Across the globe, food and beverage prices are expected to rise. More costly production prices, changes in imports and exports, and a rise in dietary requirements from attendees will all add to this increase.
Security to Become Bigger Priority
The meetings and events industry will expand its safety and security measures beyond traditional tracking of air travel to include manifests of all meeting attendees that can help in emergency planning.
Virtual Attendance Capabilities to Get More Advanced
As virtual attendance at meetings popularizes, virtual-event technology will become more advanced, allowing remote attendees to engage and participate with two-way interaction capabilities.