Consider these remarkable statistics gleaned from MeetingsNet.
• In just 12 months, the median number of room nights booked for meetings and incentives by MeetingsNet’s top 25 companies increased fivefold.
• The median staff size for these companies grew from 95 in 2021 to 134 in 2022. Keep in mind this increase occurred at a time when companies were begging for new hires.
• The median number of corporate meetings planned by the top 25 rose from 120 in 2021 to 413 in 2022. A huge increase that makes us all smile!
• During this same period of in-person meeting recovery, the median number of stand-alone virtual events planned decreased drastically from 92 in 2021 to 21 in 2022.
• The US Bureau of Labor Statistics reports that airfares have peaked. This reflects some airlines dropped some business travel routes.
The biggest change we’re experiencing in meeting and event planning is…
“the significant impact of inflation on supplier costs, exacerbated by incredibly high demand post-COVID for events, which puts pressure on all services. At the same time, clients are, of course, still demanding high creativity, innovation, and value for money with budgets that have, in many cases, not increased. This is the challenge that requires expertise, partnership, and persistence of our teams to solve.”
Katie Coleman, head of Ashland Event Experiences
Copyright 2023, Lois Creamer, Book More Business. Lois works with professional speakers who want to book more business, make more money, and fully monetize their message.
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