In a world that has grappled with a pandemic's challenges, the meetings and events industry has seen a remarkable transformation. From the ashes of a virtual and hybrid event landscape, the phoenix of in-person meetings has risen, bringing with it a renewed sense of purpose and optimism. To shed light on the evolving events landscape, we're here to provide you with a snapshot of the latest trends in different regions around the world. The following insights, from our latest report What's Trending 2024 offer a glimpse into what's happening now and what's on the horizon in 2024.
What's impacting the industry in your region?
North America (NORAM)
In North America, clients are shifting to agencies for meetings and events support. Some require assistance with destination and experience design, while others manage procurement and need help with delivery management. Suppliers struggle with staffing, affecting global markets. Innovation, individualized attendee experiences, and work-life balance are top priorities in an evolving industry.
United Kingdom (UK)
The UK's meetings and events industry is bouncing back, with a return to in-person events, although standalone venue searches have yet to reach pre-pandemic levels. Cost-cutting measures and sustainability initiatives are prevalent, and venues are facing challenges following Brexit and the pandemic.
Europe, Middle East, and Africa (EMEA)
EMEA is navigating a stable phase in the meetings and events sector, with a focus on cost containment amidst high inflation. Political instability, particularly in Ukraine and Niger, adds an element of uncertainty. Sustainability remains crucial, but priorities may shift slightly due to economic challenges.
Asia-Pacific (APAC)
APAC is experiencing a resurgence in meetings and events, particularly in China, as trade shows and incentive travel return. Budgets for 2024 are flat, and costs are increasing, while resource challenges persist in the region. Regulatory changes in healthcare provider events and the pharma industry pose specific challenges.
Latin America (LATAM)
LATAM faces economic and government-related uncertainty, with unique challenges in each country. Taxes and regulations impact budgets in Colombia, Argentina grapples with talent retention, and Mexico deals with budget limitations and rising hotel rates. Despite challenges, Argentina, Colombia, and Mexico show promise for 2024, with a focus on sustainability and creative approaches in event planning.
The global meetings and events landscape is evolving, with each region presenting its own set of opportunities and obstacles. For more in-depth insights into each region's meetings and events industry, download What's Trending 2024. These insights will be valuable for your event planning decisions in a dynamic global landscape.
Originally published Oct 24, 2023 4:46:51 AM
Written by BCD Meetings & Events
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