Where Event Planners Go to Find Business Event Industry Trends Data
An Introduction to the Annual EIBTM Trends Watch Report
The last several years since the 2007-2008 financial crisis, both U.S. and European event planners have been concerned about the cost of meetings and incentive travel, the major factors contributing to which have been increased costs associated with air travel and hotels. On the other hand, industry leaders have also recognized that the meeting and events industry is maturing, and international destinations options are giving planners potential new locations and facilities for consideration. While the average event planner is generally most concerned with their more local business, ambitious event planning business owners try to stay up to date on the greater industry as a whole. Many stay 'in the know" using the EIBTM Trends Watch Report.
History of the EIBTM Trends Watch Report
These relevant industry trends, among others, are analyzed every year in the annual EIBTM Trends Watch Report (formerly known as the EIBTM Industry Trends and Market Share Report). The report explores data relating to supply and demand of business events and provides some perspectives of current and possible future trends in the industry.
The Trends Watch Report began when Reed Exhibitions approached Rob Davidson, then a senior lecturer in business travel and tourism for the University of Westminster in London, with the idea of writing an annual report on changing trends in the meetings and events industry. Since then, the Trends Watch Report has taken off and Davidson has continued to act as the report's analyst and author.
What the EIBTM Trends Watch Report Contains
Since its inception, the EIBTM Trends Watch Report has greatly evolved. After the first few years of the report's annual publication, it became clear that the report's primary audience was much more interested in overarching trends in the meetings and events industry, in particular how the industry has responded to developments in the market. So the report began to focus its analysis on the topics about which readers most wanted to learn. Today the report is structured as follows:
- Overview of the global macroeconomic situation
- Review of the performance of industry key markets
- Analysis of annual demand for corporate meetings, association conferences, and incentive travel
- Summary of the outlook for the year ahead
Over the years, there has also been tremendous growth in the availability of information and resources from which to collect relevant data. Today, each year's report identifies several industry trends by analyzing industry data from the previous 12 months, including information from MPI, Convention Industry Council, PCMA, American Express Business Travel, and others. This information provides a unique perspective of domestic U.S. and international event planning.
Recent Event Industry Trends in North America
As of the end of 2015, meeting and events industry trends suggest that the industry will continue to witness growths in meetings, events, and business travel. In fact, in the United States, reports forecast a sort of seller's market in which demand will continue to grow while new supply lags just slightly behind. Among other interesting observations and trends that can be found in this year's report, it certainly sounds like a good time to be in the industry!