CWT Meetings & Events? 2016 Forecast predicts positive growth for the industry in the coming 12 months.
But the report also sounds a note of caution: as attrition and cancellation terms are becoming stricter, supplier negotiations will be more important than ever to meetings planners.
Key findings:
? The unpredictable economy in Asia Pacific could cause challenges in the region, although stronger demand from China and India could drive up group size and prices;
? High demand for meetings and events venues in North America is exceeding supply, resulting in a sellers? market. Careful planning is therefore very important;
? In Europe, buyers are gaining greater negotiating power as the region sees slow but steady growth; and
? Pockets of high demand will be created around the Rio 2016 Olympics and Paralympic Games next summer, resulting in a potential shortage of meeting space.
Caution advised for 2016 meetings
