by Allen J. Sheinman | August 01, 2018
Key trends in the meeting industry are highlighted in Meeting Professionals International's just-published Meetings Outlook, 2018 Summer Edition. The report highlights trending conditions such today's solid seller's market, contracts and negotiations that are getting ever more complex, a growth in demand for experiential meeting components and a perceptual shift regarding virtual meetings -increasingly viewed as a tool to enhance live events, rather than replace them.
 
Among the survey's key findings:
• 66 percent of respondents predict favorable business conditions, with a 2.8 percent growth expected over the next year;
• A majority of respondents (54.9 percent) report that contract negotiations are becoming more complex; 22.8 percent indicate such negotiations now focus on different issues than in the past. Only 3.1 percent of respondents view negotiations as getting simpler.
• Two-thirds of respondents consider the current business climate a seller's market. Only 13 percent claim to be experiencing a buyer's market.
• For the first time in nearly three years of Meetings Outlook survey results, live event attendance is expected to grow more than virtual attendance, though the difference is slight (1.8 percent vs. 1.7 percent, respectively)
 
Meetings Outlook is developed in partnership with MGM Resorts International and supported in partnership with the IMEX Group. To view the full report, visit www.mpiweb.org/meetingsoutlook.