Asia Pacific, with its relatively strong economy, is likely to see the strongest growth among regions in both spending and the number of meetings in 2013, according to new data from American Express.
The number of meetings in Asia Pacific is expected to increase 6.4% while the overall meeting spend will increase 4.2%.
In North America, economic uncertainty is expected to keep meeting spend and number of meetings relatively flat, while Europe will likely experience declines in both as it continues to face a currency crisis and, due to political instability in some markets, Central/South America is also expected to see slight declines overall, especially in spend.
“While Asia Pacific is likely to experience growth in 2013, as Europe sees declines, meeting professionals in every region point to budget challenges and the need to ascertain their companies’ own financial performance before they make investments in meetings as top influencers of their programs,” said Issa Jouaneh, vice president and general manager, American Express Meetings & Events. “As a result, one of the top emerging trends in the space is the shift to more local meetings. Meetings professionals are also preparing for group hotel and air expenses to rise next year.”
However, outside of Europe where rates are projected to be flat in 2013, American Express found that group hotel rates are expected to rise, with a 4.7% increase in Central and South America, 4.2% in North America, 4% in Asia.
Other meetings trends for 2013 include:
- Budget challenges mean more local
- Security and stability impacting destination
- Meetings approvals becoming more difficult
- Increasing engagement via social media
Top destinations for meetings in North America are projected to be Orlando, Florida, Washington, D.C., Las Vegas, Miami and Chicago.
Top destinations for meetings in Europe are projected to be London, Paris, Amsterdam, Barcelona, Spain, and Brussels.
Top destinations for meetings in Asia are projected to be Shanghai, Singapore, Sydney, Beijing and Bangkok.
Top destinations for meetings in Central and South America are expected to be Riviera Maya/Cancun/Quintana Roo in Mexico, Rio de Janeiro, San Juan, Puerto Rico, and Punta Cana, Mexico.