Research European Meeting & Convention Market 2022
In November 2022, MMGY Travel, a marketing organisation specialising in data and research, in collaboration with IMEX, carried out research into the changes and challenges in the European Meeting & Convention sector. The study was aimed at the recovery of the business market and the impact of the COVID-19 pandemic, as well as the war in Ukraine. Half a year later, the research was conducted again (2nd measurement) to monitor the changes.
The most important findings of the research are:
- European meeting planners are expected to plan outside of Europe more often. Because of an increase in the number of bookings outside of Europe, European planners expect fewer people to book meetings in Europe in the following two years, in contrast to their expectations during the 1st measurement.
- Expected recovery is faster than anticipated in 1st measurement. Planners predict that the impact of COVID-19 will reduce, ensuring a more rapid recovery than expected. For most meetings, the predicted recovery time shifted from the spring of 2024 to the summer of 2023; seminars and workshops will recover even earlier. A third of the planners have indicated that they are already on the same level of bookings as before COVID-19.
Regarding participants, the number of domestic and foreign participants is on the same level as it was before COVID-19. Participants report that they experience the risks of attending international events to be higher than before COVID-19, mainly because of possible quarantine, cancelled flights or closed borders. Inflation, rising prices, delays and cancellations are other important factors influencing decisions to plan or join a meeting.
Additionally, sustainability was added as a new topic in the 2nd measurement, an important consideration for planners and participants in choosing a location and a way of transit to get there. The study showed that sustainability is becoming a more critical issue in society and that participants are paying more attention to reducing environmental damage. The outcomes of this research show valuable insights into the expectations and challenges in the European Meeting & Convention sector.