Decline in meeting activity projected for Asia-Pacific: AMEX study

FOLLOWING two years of modest budget and activity increases in meeting spend per organisation, figures are expected to be flat or show a slight decline across all regions in 2014, reported the latest American Express Meetings & Events 2014 Global Meetings Forecast.

Industry activity appears likely to be stabilising due to a rise in meetings-related policies designed to ensure such events comply with company guidelines and deliver against strategic objectives.

Across all regions, meeting organisers will likely continue to face challenges as they strive to achieve more with flat or decreasing budgets expected, compared to previous years.

Most notable is the shift in expectations among meeting planners in Asia-Pacific. Respondents from the region were the only ones last year to predict an average increase in overall meetings spend per organisation, however, this year they are forecasting a 3.6 per cent decline – the largest dip among all regions.

The number of meetings is expected to dip 1.2 per cent while the number of attendees per meeting is projected to fall by 2.4 per cent.

“While businesses throughout Asia-Pacific still recognise the importance of meetings and events, over the past year there has been a shift towards greater control and transparency within meetings programmes,” said Danielle Puceta, director, American Express Meetings & Events, Asia-Pacific.

“After two years of optimism, in 2014 we expect slight decreases in the frequency and spend-per-organisation when it comes to meetings and events in the Asia-Pacific region. We believe this is indicative of a maturing industry and a phase of greater scrutiny, aimed at ensuring meetings and events activity truly meets organisational objectives.”

The study also ranked Shanghai as the top meeting destination choice among meeting planners in Asia-Pacific, followed by Singapore and Sydney.

Hong Kong and Macau jumped from seventh position last year to fourth this year, while Bangkok and Chiang Mai share fifth spot in the latest rankings.

Sponsored Post