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The submit Accor reveals key trends for the global  meetings and events sector  appeared first on TD (Travel Daily Media) Travel Daily Media.

A brand new report from Accor has revealed a necessity  to give attention to stability and belonging as the international meetings and events sector continues to recuperate and  drive strategic progress for 2024 and past. 

The report, titled “Meeting Expectations: The Future of Meetings & Events” addresses the  transformation that the M&E sector has undergone lately and explores the basic  shifts impacting the trade because it continues to evolve and recuperate.

“The international enterprise panorama is present process a profound transformation. The approach we reside, work, and  work together has been reshaped over the previous few years, and the ripple results of those modifications have  created new alternatives in the meetings and events trade,” says Sophie Hulgard, Chief Sales  Officer, Accor. “The pandemic was a defining second for the trade. We have been thrust right into a world  of digital gatherings, with in-person events grinding to a halt. Yet, we tailored and developed. That  evolution continues at the moment and the one thread that connects all the trends we forecast is the human  connection. Today, greater than ever, it’s about the human want to fulfill, share and thrive.”

Coming out of the pandemic there have been fears that the events trade may wrestle to reclaim its  viewers. Today that viewers has largely returned and is anticipated to rise far past its 2019 peak  in the years to return. This is nice information for the sector but it surely additionally brings recent challenges and  alternatives that can alter the approach events are booked, deliberate and executed.

“The whole international assembly trade worldwide is forecast1 to be value $1.78bn by 2030,” added  Hulgard. “That’s as a result of being in a room with folks issues – it’s highly effective and it’s helpful.”

Accor’s Meetings & Events Industry Forecast survey information reinforces this predicted progress trajectory.  78% of respondents stated that their or their shoppers’ expenditure had elevated since 2022, with 36%  saying it had elevated by greater than 25%. Looking to 2024 the progress is anticipated to proceed with  80% of surveyed specialists anticipating elevated spend in 2024, with 30% saying it might rise by extra  than 25%.

According to the Accor analysis, continued progress is forecast throughout all assembly and occasion sizes in  2024. Three-quarters (78%) anticipate the variety of small and medium sized meetings (below 100  delegates) to extend subsequent yr, and the identical quantity stated they anticipate the variety of meetings of  over 100 delegates to extend. More than half (57%) predict an increase in massive meetings (over 300

 

delegates) to extend and nearly three-forth (78%) stated it might be “crucial” for their  trade to attend exhibitions, conferences and tradeshows in 2024.

Reconfirming the worth of assembly in actual life (IRL), 33% of meetings planners anticipate in extra of  40% extra income from face-to-face meetings vs a digital assembly, and the majority, 80%, would  not be completely happy to make use of video-conferencing to shut offers in 2024.

The new Accor report, “MEETING EXPECTATIONS: THE FUTURE OF MEETINGS & EVENTS”  reveals 5 trends anticipated to form the progress of the trade.

1/ “Softer Productivity”  

The work onerous, play onerous ethos as soon as related to enterprise and events is altering in step with the  calls for of recent life.

  • Key Take-away: Balance objective and productiveness

2/ “Selling Belonging”  

The meetings and events sector is all about one factor: folks. Human connection and fostering a  sense of belonging are the cornerstones of profitable occasion design.

  • Key Take-away: Celebrate the human connection. Sell belonging.

3/ “Designing Experiences”  

Event bookers are wanting for a return on their funding, however they’re greater than ever wanting for  ROX, a return on expertise.

  • Key Take-away: Create memorable experiences that forge significant connections

4/ “Green Gatherings”  

Positive impression is the differentiator, and, greater than ever, the sector has the inexperienced gentle to drive  change. Green credentials are not a bonus for events – they are going to be a deciding consider who  secures the enterprise.

  • Key Take-away: Sustainability must be the first thought, not the afterthought

5/ “Disruptive Technology”  

In-person conferences at the moment are a significant approach of bringing collectively individuals who could solely see each other  via laptop computer screens.

  • Key Take-away: Digital has attain. Face to face has worth. Being in the room issues.

“The Meetings & Events trade has demonstrated its resilience, innovation, and adaptability,”  concludes Karelle Lamouche, Chief Commercial Officer of Accor’s Premium, Midscale & Economy  division. “The trends outlined on this report stem from the DNA of the sector – nose to nose enterprise  issues. The human connection goes with business success, it makes enterprise stronger. As the  trade continues to drive restoration globally, it’s the dedication to forging significant connections,  being a catalyst for business and cultural progress and creating a way of belonging that can guarantee  the sector exceeds its forecast progress. Travel is again, and, for the M&E sector, it’s belonging and  stability that can drive the backside line in 2024.”

 

 

The submit Accor reveals key trends for the global  meetings and events sector  appeared first on Travel Daily Media.

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