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Meetings and Events in 20 Years
The document discusses trends and predictions for the events, meetings, hospitality, and travel industry over the next 20 years. Some key predictions include: - The number of event planners will grow significantly as event planning becomes a more common career path. - Meeting and event professionals will need to take a more strategic approach to planning as the industry consolidates and more aspects of event logistics are automated. - Technology will become more integrated into events, with virtual audiences and seamless discovery becoming standard components. - Live events will remain an important source of revenue for most companies even as virtual elements are incorporated.
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Meetings and Events in 20 Years
- 1. Our industry... in20 years! Trends and predictions in events, meetings, hospitality, and travel August 2015 Dan Berger | CEO | Social Tables
- 2. @danberger | #WEC15| 2015 Audience-Presenter Contract ● Leave at any time. ● Join the conversation: #WEC15 or @danberger. ● Steal everything.
- 3. @danberger | #WEC15| 2015 I am a participant. I am a planner. I am a believer.
- 4. @danberger | #WEC15| 2015
- 5. @danberger | #WEC15| 2015
- 6. @danberger | #WEC15| 2015
- 7. @danberger | #WEC15| 2015 3,000 customers (50,000 users) 150 countries 3 languages
- 8. @danberger | #WEC15| 2015
- 9. @danberger | #WEC15| 2015 1 billion sq ft of function space 500,000 events created 63 million attendees impacted
- 10. @danberger | #WEC15| 2015 Just how big are meetings and events in the U.S.? Globally?
- 11. @danberger | #WEC15| 2015 Learning Zone Three Ways to Measure the Impact of Meetings Direct The expenditures with booking and attending the event. Travel, F&B, accommodations, activities, etc. Indirect The purchasing of goods and services between participants at the event. Buying products or booking services from showcasing vendors Induced The future business conducted as a result of connections at an event. Leisure travel, future unrelated business transactions between participants
- 12. What You’re Goingto Learn With Me 1.8 million meetings in the U.S. per year for a total direct spend of $280mm. The U.S. meeting market is large. The Economic Significance of Meetings to the U.S. Economy, CIC Study, PwC, 2012
- 13. What You’re Goingto Learn With Me ● $565 bn in 2012, including accommodation, transportation, and support costs. ● Hotel revenue associated with meetings and events is $103 bn. The global meetings and events market is even larger. Frost and Sullivan, “A Survey of Meeting and Event Planning Professionals and Hotel Operators,” June 2013
- 14. @danberger | #WEC15| 2015Source: World Travel & Tourism Council Global GDP contribution of travel will be $8 trillion in 2015 and is rising to almost $12 trillion in 2025. “
- 15. What You’re Goingto Learn With Me Frost and Sullivan, “A Survey of Meeting and Event Planning Professionals and Hotel Operators,” June 2013 Special Events Magazine Businesses spend money on events. ● Businesses spend 1% of revenue on meetings/events. ● 25% of corporate planners expect to plan more events this year. ● Millennials value events more than previous generations.
- 16. What You’re Goingto Learn With Me ● Live Nation Concert Revenue was up 29% in Q1 of 2014. ● Google search for sport tickets up 32% from 2 years ago. Consumers spend more money on events. "Lifting the Curtain on Live Events," Think with Google, 2014 Brookings Institute
- 17. @danberger | #WEC15| 2015 Why do meetings and events matter?
- 18. ● Meetings andevents are a leading indicator of the economy. ● Meetings and events precede leisure travel. ● Their true economic significance is immeasurable. Meetings and events matter.
- 19. @danberger | #WEC15| 2015 Predictions for 20 years in events, meetings, hospitality, and travel.
- 20. The number ofevent planners will continue to rise significantly. There were 94k planners in the U.S. in 2012. That number will grow 33% by 2022. Source: US Bureau of Labor Statistics
- 21. Meeting and eventprofessionals will be more strategic than ever.
- 22. Event planning willbe a more respected and common field. Of the 3,000 universities in the U.S., 80 each meeting planners
- 23. @danberger | #WEC15| 2015 Which trend excites you? Scares you? What will you do about it?
- 24. The industry aswe know it will be obliterated.
- 25. The industry willcontinue to consolidate. 7 hotel companies own 80 brand Source: IBISworld, USA Today 2 companies make up 20% of the event revenue. Expedia and Orbitz control 80% of the OTA market. There are only 3 major air carriers
- 26. Event logistics willbe automated.
- 27. Technology will bemore integrated into our lives, and thus, into events.
- 28. @danberger | #WEC15| 2015 Which trend excites you? Scares you? What will you do about it?
- 29. Group business willbe booked mostly online.
- 30. Event planning softwarewill be free and integrated. There are 200 event registration softwares.
- 31. Custom event appswill no longer exists. There are 120 event app companies
- 32.
- 33. Networks at hotelsand events will be a target for hackers.
- 34. @danberger | #WEC15| 2015 Which trend excites you? Scares you? What will you do about it?
- 35. @danberger | #WEC15| 2015 Live events will be an important source of revenue for most companies
- 36. @danberger | #WEC15| 2015 1. Identify attendee segment. 2. Simulate their experience from cradle to grave or survey them. Extending Exiting Engaging Experiencing Entering Arriving Anticipating Attracting Announcing JourneyMapping Source: The 8 Phases of a Successful Event, Maritz Learning Zone
- 37. 1990s 2010s 2030s Virtualaudiences will be a basic component of events.
- 38. Discovery will beseamless and perfect.
- 39. Event space willbe more commoditized than ever.
- 40. @danberger | #WEC15| 2015 Hotels will do mostly group business.
- 41. @danberger | #WEC15| 2015 Which trend excites you? Scares you? What will you do about it?
- 42. @danberger | #WEC15| 2015 Events will mostly be indoors or under covered structures.
- 43. Everything you willneed will be available on-demand.
- 44. @danberger | #WEC15| 2015 Learning Zone
- 45. Organized labor willbe less of an issue because events will be setup automatically.
- 46. @danberger | #WEC15| 2015 Which trend excites you? Scares you? What will you do about it?
- 47. There will bea subscription model for events.
- 48. Free events willbe expected by consumers.
- 49. There will beno cash at events.
- 50. Events will becrowdfunded.
- 51.
- 52. @danberger | #WEC15| 2015 F&B will be replaced by more efficient supplements and synthetic alternatives
- 53. @danberger | #WEC15| 2015 Which trend excites you? Scares you? What will you do about it?
- 54. Education will bethe key component at meetings.
- 55. Content will becrowdsourced.
- 56. Events will besmaller and more intimate.
- 57. @danberger | #WEC15| 2015 There will be no more weddings.
- 58. @danberger | #WEC15| 2015 Experiences will be more common and more expensive.
- 59. Face-to-face interactions willbe even more coveted. Source: eMarketer, April 2014
- 60. @danberger | #WEC15| 2015 Which trend excites you? Scares you? What will you do about it?
- 61. @danberger | #WEC15| 2015 Connecting | Q&A email: dan@socialtables.com phone: 917-359-7757 twitter: @danberger if you give me your card, I can send you the slides!