American Express Meetings & Events Forecasts Steady Industry Growth in 2019

October 17, 2018

Steady growth is the meetings and event industry’s “new normal” according to the American Express Meetings & Events (M&E)2019 Global Meetings and Events Forecast, released on Oct. 15 at IMEX America.

For the fourth consecutive year, the events industry has achieved consistent growth in both spend and attendees. In 2019, global meetings activity is expected to continue to grow, accompanied by small increases in budget allocation for meetings and events. This matches data from CWT Meetings & Events’ 2019 Meetings & Events Future Trends report, released earlier this month. 

“2019 will be a growth year for the meetings industry, with activity expected to increase across all meeting types and regions,” said Issa Jouaneh, senior vice president and general manager of American Express Meetings & Events. 

He added, “The challenge before planners is mastering this volume while working with the reality of expenses increasing at a higher rate than meetings budgets.”

Growth can be a double-edged sword. Industry consolidation and disruptive suppliers put more pressure on meeting planners but also deliver more opportunities for success through the ability to select best-of-breed suppliers and technologies. But to be successful, full marketing stack integration will be a necessity.  

“In the last 18 months, there has been an explosion of technology emerging for every part of the end-to-end meetings and events process,” said Milton Rivera, vice president of business development and strategy for American Express Meetings & Events. 

He continued, “From the time an attendee leaves their doorstep to the time they return from the meeting, there are technology solutions for very specific things – nutritional information for the event menus, or aggregate ground transportation, for example. It’s extremely fragmented and can be overwhelming for planners to have to navigate.”

As emerging technologies such as virtual reality, artificial intelligence and facial recognition transform meetings and events, American Express M&E predicts that compliance and privacy concerns will take a higher priority than ever before. 

The General Data Protection Regulation(GDPR) has already had a global impact, putting the onus on any company attempting to market to or hold data on European Union residents. Regional or state-wide privacy laws such as the recently passed California Consumer Privacy Act, which will go into effect in 2020, will only further complicate the landscape. 

For event marketers doing business globally, adhering to a privacy policy that meets or exceeds the strictest requirements of all such regulations may be the easiest solution, but the challenge will be to continue to provide immersive, engaging, personalized experiences without infringing upon attendees’ privacy.  

Jouaneh believes that strategic planning is the key to success. 

“Strategic meetings built around defined goals that prioritize the attendee experience and embrace technology will continue to elevate meetings as a business tool despite these challenges,” he said.

The report examines budgets, spend, the number of meetings and other industry-specific metrics by geographic region. Findings are based on data gathered in a global survey of meeting professionals and suppliers as well as industry data and in-depth interviews with planners and buyers, meeting, air and ground suppliers worldwide.  

There are also three special sections: The Future of Personalization by the Banks Sadler team, a meetings management and consulting services company acquired by American Express Global Business Travel (GBT)in 2017;Meetings Legal Trends;and a Latin America Destination Report, which expands on how and why to plan meetings in the region’s top destinations.

To download the full report, go HERE.

 

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Overview: The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality. In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way. “We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.” Amenities: The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.  The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need. Gold Key Members The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events. OCCC Events: This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.  The Center’s top five events during their 2022-2023 fiscal year included:  AAU Jr. National Volleyball Championships 2023 200,000 Attendees $257 Million in Economic Impact MEGACON 2023 160,000 Attendees $205 Million in Economic Impact Open Championship Series 2023 69,500 Attendees $89 Million in Economic Impact Sunshine Classic 2023 42,000 Attendees $54 Million in Economic Impact Premiere Orlando 2023 42,000 Attendees $108 Million in Economic Impact