|Meetings and events industry trends in 2014.|
Wednesday, 27th November 2013
Source : CWT Meetings & Events
Next year is set to be an exciting time for the world of events with some of the world’s largest mass occasions taking place, including the Commonwealth Games in Glasgow, the FIFA World Cup in Brazil and the Winter Olympic and Paralympics Games in Sochi, Russia.
In 2014, there is also set to be a continued rise in business-related meetings and events, which have seen a steady 1-2 percent growth year on year.
2014 Meeting & Events Trends from CWT Meetings & Events
Focused and bespoke: Although the worldwide economic environment remains flat, there are signs of some moderate growth, and clients will continue to hold more events, albeit on a smaller scale. With more access to big data, planners are able to tailor and adapt events to suit individual attendee requirements, from personalized invitations, to bespoke mobile itineraries on arrival, to interactive voting at the event.
Close to home: Clients will continue to opt for more domestic or short-haul destinations, to ensure cost-saving compared with long-haul destinations favored in the past. Looking further afield, Brazil and Russia are both hosting major events in 2014 and will be key destinations for large corporates looking to tap in to the halo-effect hospitality surrounding these popular events.
Strategic Meetings Management (SMM): Companies will continue to consolidate their SMM programs and look for one-stop-shop global suppliers who can offer global support and global cost savings.
Creative twist: Clients will continue to look for the global event agencies that can deliver strong creative solutions, but can also offer crucial business functions such as safety & security and compliance, which will continue to be important in 2014.
On the spot: Live technology will continue to be a crucial tool in gaining real-time feedback during an event. The information can shape the agenda of the remainder of the event to make sure attendee needs are being met. In 2014, we will see even more incorporation of social media and apps which can be used to engage attendee pre-, during and post-event.
Every penny counts: Event and marketing managers are increasingly being held accountable for ROI – every penny spent should have a return value. Tools like CWT Meetings & Events Dashboard , launched today, will become vital aids in showing the power of live events and deciding future priorities, opportunities for cost savings, transparency and process efficiency.
The CWT Meetings & Events Dashboard , which will look to incorporate data from other third party tools, launches in Europe today, and is planned to be offered to clients in the Americas and Asia-Pacific regions next year. It works by pulling information on spend from CWT Meetings & Events back office technology system, and consolidates client activity, destination analysis, budget breakdown and hotel spend, to give clients a holistic, 360 view of their spend.
"The coming year is set to be an extremely exciting time for the meetings and events sector. Our new CWT Meetings & Events Dashboard helps clients by giving a comprehensive look into their meetings and events spend, which is an essential part of SMM programs. I’m thrilled we can offer clients this cutting-edge solution especially as we developed the tool in Europe, which is a complex and diverse economic marketplace. We look forward to the evolution of this tool and its expansion in other key regions in 2014.” said Floyd Widener, global senior vice president, CWT Meetings & Events.
CWT Meetings & Events is the global meetings and events division of Carlson Wagonlit Travel (CWT).