Grass Roots Meeting Industry Report predicts positive outlook for 201131st March, 2011 The meetings, events and communications division of Grass Roots launches the fifth edition of its Meetings Industry Report this month. The report offers insights into the UK meetings industry with highlights from a European and Global perspective. It includes in depth case studies and contributions from 16 clients, draws on data from over 60 industry associations, trade bodies and commercial companies, as well revealing the findings of Grass Roots' own client survey. Grass Roots, which placed more than £200 million of meetings spend on behalf of its corporate clients last year, reports that 40% of respondents to its client survey anticipate an increase in the number of meetings being held in 2011 compared to 2010, with the number of overseas events staying the same year-on-year. This trend is reflected in clients revealing that their budgets are being held firm in a number of sectors. The report points to a number of positive market signs, including a doubling in the size of the banks' graduate and training programmes globally. Grass Roots sourced more than 28,000 room nights last year in London alone for recruiters of graduate talent. Nick Bender, Grass Roots' global head of events, comments, "The outlook for 2011 is upbeat with more meetings and, in spite of the widespread pessimism we saw across the industry last year, the true picture is that business actually increased across all venue types in 2010. In the early part of this year we have seen budgets increasing in a number of sectors, such as financial services, professional services and automotive. Des McLaughlin, Grass Roots' managing director, venue procurement noted, "Other emerging trends include companies increasingly looking to better utilise their internal space for meetings, as well as a steady rise in the use of unusual venues which for many is seen as a result of hotels failing to create innovative new products. At Grass Roots we have seen enquiries for venues that offer something different double since pre-recession levels and have noticed that one in ten new venues selling to the meetings market is categorising itself as an unusual venue, with no signs of their appeal waning in 2011. This being said, business for hotel groups and training / conference centres has also increased, which is likely to be as a result of companies reinstating their meeting budgets." Further predictions for 2011 include continuing growth in the incentive travel and events market, as the demand for information on ‘exclusive to the destination experiences' continues to grow. The report contains a note of caution that we are far from a return to pre-recession ‘good old days', noting that lavish client events are yet to come back and companies remain rate sensitive. After large rate falls in 2009 and a fairly static 2010, Grass Roots anticipates that rates will start to rise in 2011, with much of this increase driven by venues in key cities, however levels will still be 10-12% down on 2008. McLaughlin said: "2010 proved to be a better year than many people in the meetings industry hoped for. Clients continued to invest in training after the freeze of early 2009 and we saw an upturn in external venues being used to accommodate these. In addition to training, client meetings and events came back strongly too with companies increasingly believing in the value of face-to-face networking. Exhibition attendance numbers were markedly improved too with many seeing levels in line with 2008." The report also reveals that:
To receive a complimentary copy of the Grass Roots Meetings Industry Report visit www.grassrootseventcom.uk.com/web/guest/meetings-industry-report . | |
