Highlights: 2024 AMEX GBT 2024 Global Meetings and Events Forecast
We read this year’s American Express GBT’s Global Meetings and Events Forecast and while there are some good nuggets of information, it’s clear there is still quite a bit of ambiguity in the industry. However, planners’ outlook is trending positive (82% believing in the industry's upward trajectory compared to 77% in 2023 and 71% in 2022) and while the future is unclear, most in the industry still feel passionate about meetings & events.
Here are a few highlights from the study from the planners perspective:
🤝 In-person is on-trend: Over three-quarters of meetings and events in the coming year will either be entirely in-person or hybrid (59% entirely in-person and 20% hybrid)
⌛Not too late, but not great: One notable trend is the shrinking lead times for event planning, attributed mainly to delays in budget approvals. This phenomenon not only affects the negotiation of favorable rates and dates but also impacts venue selection.
💰 $how me the money: There's a collective expectation of increased spending on meetings in 2024, accompanied by a rise in internal event frequency and attendee numbers.
🐢Tradeshows to a slow: The outlook for trade show attendance remains conservative, suggesting a nuanced landscape of preferences and priorities among participants.
🔮 Automation revelation(?): Automation emerges as a solution to streamline tasks and alleviate the burden on event planners, while AI-driven personalization enhances registration and communication processes.*
🔎 Seasoned planner scarcity: The shortage of seasoned event planners poses a significant challenge, underscoring the importance of talent development and retention in the industry.
👑 Content is (still) king: In response to changing dynamics, event organizers are prioritizing impactful content and engaging experiences to attract and retain attendees.
🧘🏼 Wishing for wellness: Planners are embracing programming trends such as longer breaks, self-care activities, thoughtful design, and diverse food options to cater to various preferences and dietary restrictions.
🌎 PLAN(et)NER Earth: Moreover, sustainability emerges as a focal point, with a notable percentage of organizations aiming for net-zero goals by the end of 2024. Strategies include identifying eco-friendly locations, working with certified suppliers, and measuring event impact to reduce carbon footprints. **
There were also some little slices of data from marketers perspective:
🏆 Events are elite: events continue to hold significant importance, with a substantial portion of budgets allocated towards event marketing.
💵 Bang for your buck: Product launches, internal meetings, and client advisory boards rank among the most effective types of events, highlighting their role in driving business objectives.
🫴🏻 A helping hand: Collaboration with event planning agencies remains prevalent, with creativity, affordability, and technological proficiency being key selection criteria.
👥 Connect with community: Social media emerges as the primary channel for reaching target audiences, underscoring the need for integrated marketing strategies.
Some questions we pondered while reading the report:
📈 What are the latest trends/tips/tricks in proving ROI on events? Whether it’s a product launch, trade show, demand event or even internal - how are planners and marketing experts creating new paths for proving value?
🤖When it comes to AI/Automation, what are we really doing?* There’s so much talk about AI and Automation everywhere, not just events, but we’d like to see some concrete tips & tools for really using AI for events. Most of the chatter seems to be speculative, we want to see tactical implementation!
♻️ Is sustainability really sustainable? (Or really even a focus?)** We love to think that all organizations are focused on sustainability, but often we don’t see the plans put into action. We want to see solid lists of impactful sustainable trends and would love to hear from planners who are actually provided the resources and budget to make their meetings eco-conscious!
📱 What are the leading technologies the events community is using? We’re always looking for great recommendations especially when it comes to: venue sourcing, registration, attendee management, event apps, budgeting and project management!
They say change is inevitable, and one thing you can always count on in this industry is change! It’s what makes a career in events & meetings so exciting - we are always looking for new ways to do the most ancient activity: bringing people together. We look forward to seeing how 2024 evolves and before you know it, predicting trends for 2025!
Information on the facilitation of the study by AmEx GBT: The 2024 Forecast is based on a survey of more than 500 meetings and events professionals from around the world as well as in-depth interviews with over a dozen industry leaders. The survey launched in June 2023 and extended through to mid-July.
