In a comprehensive report titled “Meeting Expectations: The Future of Meetings & Events,” Accor, the world’s leading global hospitality group, delves into the transformations occurring in the meetings and events (M&E) sector. The report not only reflects on recent changes but also forecasts the fundamental shifts that are reshaping the industry as it continues to evolve and recover.
Sophie Hulgard, Chief Sales Officer at Accor, stresses the impact of t
In a comprehensive report titled “Meeting Expectations: The Future of Meetings & Events,” Accor, the world’s leading global hospitality group, delves into the transformations occurring in the meetings and events (M&E) sector. The report not only reflects on recent changes but also forecasts the fundamental shifts that are reshaping the industry as it continues to evolve and recover.
Sophie Hulgard, Chief Sales Officer at Accor, stresses the impact of the evolving global business landscape on the M&E sector. She states, “The pandemic was a defining moment for the industry. We adapted and evolved into a world of virtual gatherings, but the one thread that connects all trends is the human connection. It’s about the human need to meet, share, and thrive.”
The fear that the events industry might struggle to regain its audience post-pandemic has been dispelled as the audience has not only returned but is expected to grow beyond its 2019 peak. This resurgence brings fresh challenges and opportunities, altering the way events are planned and executed.
According to Accor’s Meetings & Events Industry Forecast survey, 78% of respondents reported an increase in expenditure since 2022, with 36% seeing an increase of more than 25%. Looking ahead to 2024, 80% of surveyed experts expect spending to continue rising, with 30% predicting an increase of over 25%.
The report also forecasts growth across all meeting and event sizes in 2024. Three-quarters (78%) expect more small and medium-sized meetings (under 100 delegates), while the same number anticipates an increase in meetings with over 100 delegates. Over half (57%) foresee larger meetings (over 300 delegates) rising, and almost two-thirds (78%) prioritize attending exhibitions, conferences, and tradeshows in 2024.
Meeting in person (IRL) remains highly valued, with 33% of meeting planners expecting over 40% more revenue from face-to-face meetings compared to virtual ones. Furthermore, 80% of respondents do not plan to use video-conferencing to close deals in 2024.
The “Meeting Expectations: The Future of Meetings and Events” report reveals five key trends that will shape the industry’s growth in 2024:
- “Softer Productivity”: Balancing purpose and productivity in line with changing lifestyles.
- “Selling Belonging”: Celebrating human connections and selling a sense of belonging.
- “Designing Experiences”: Creating memorable experiences that foster meaningful connections.
- “Green Gatherings”: Prioritizing sustainability as a decisive factor in securing business.
- “Disruptive Technology”: Recognizing the value of in-person meetings in a world reliant on digital interactions.
Karelle Lamouche, Chief Commercial Officer of Accor’s Premium, Midscale & Economy division, concludes, “The M&E industry’s commitment to forging meaningful connections, commercial and cultural growth, and creating a sense of belonging will ensure the sector exceeds its forecast growth in 2024. Belonging and balance will drive the bottom line in this post-pandemic era, where travel and human connections are back stronger than ever.”
According to Accor’s Meetings and Events Industry Forecast survey, 78% of respondents reported an increase in expenditure since 2022, with 36% seeing an increase of more than 25%. Looking ahead to 2024, 80% of surveyed experts expect spending to continue rising, with 30% predicting an increase of over 25%.
The report also forecasts growth across all meeting and event sizes in 2024. Three-quarters (78%) expect more small and medium-sized meetings (under 100 delegates), while the same number anticipates an increase in meetings with over 100 delegates. Over half (57%) foresee larger meetings (over 300 delegates) rising, and almost two-thirds (78%) prioritize attending exhibitions, conferences, and tradeshows in 2024.
Meeting in person (IRL) remains highly valued, with 33% of meeting planners expecting over 40% more revenue from face-to-face meetings compared to virtual ones. Furthermore, 80% of respondents do not plan to use video-conferencing to close deals in 2024.
The “Meeting Expectations: The Future of Meetings & Events” report reveals five key trends that will shape the industry’s growth in 2024:
- “Softer Productivity”: Balancing purpose and productivity in line with changing lifestyles.
- “Selling Belonging”: Celebrating human connections and selling a sense of belonging.
- “Designing Experiences”: Creating memorable experiences that foster meaningful connections.
- “Green Gatherings”: Prioritizing sustainability as a decisive factor in securing business.
- “Disruptive Technology”: Recognizing the value of in-person meetings in a world reliant on digital interactions.
Karelle Lamouche, Chief Commercial Officer of Accor’s Premium, Midscale & Economy division, concludes, “The Meetings and Events industry’s commitment to forging meaningful connections, commercial and cultural growth, and creating a sense of belonging will ensure the sector exceeds its forecast growth in 2024. Belonging and balance will drive the bottom line in this post-pandemic era, where travel and human connections are back stronger than ever.”
