Get ready for event industry growth!
Our colleagues at CWT Meetings & Events released the results of their 2020 Future Trends Report, and the news is great!
The report found that the event industry will enjoy an eight percent increase in 2020. That’s amazing!
Sluggish economies and an uncertain economic outlook worldwide do not seem to have affected the events and meetings industries.
This is fabulous news for planners.
Let’s take a look at some other event industry trends that are on the rise.
For a lot of professionals, company culture is becoming as important as wage and benefits when choosing where they want to work. With this in mind, company leaders are starting to put more thought and focus into activities that enhance relationships between colleagues.
This change in workplace philosophies has resulted in some shifting event industry trends, including a surge in incentive events and travel. As many people are starting to value experiences over possessions, incentive trips are becoming more and more popular as ways to motivate teams to reach goals.
The type of travel people are interested in is changing as well. Less desirable are the more touristy spots. Travellers want to go to the less-travelled areas of the world and have “life-changing” experiences. This has opened up a whole new niche market for tours and marketing to professional groups enjoying incentive trips to far-flung corners of the world.
It’s getting millennial.
Well, not just millennial. Centennial as well. Centennials (people born after 1996) are the first generation to have never experienced a world without the internet, smartphones and apps. Along with millennials, they will expect to perform most tasks to completion entirely on smartphones, including event and travel bookings.
These event industry trends mean significant change is on the horizon, as by the year 2024 millennials and then centennials will be the largest group of business travellers in the world. The event industry will have to completely digitize to keep up with this demand for online services.
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Tap into apps.
Upcoming event industry trends all point to apps. Apps are going to be playing an integral role in event planning in the very near future. According to CWTs report, chatbots, AI and machine learning will be taking attendee experiences to the next level in a very immediate and personalized way.
Even more interesting is that these same apps can be used to link attendees’ social media accounts to events, allowing them to engage more effectively. Further, the apps can be used to measure attendees’ participation in online engagement.
Also, expect online booking to become much more prevalent in the near future, as people begin to catch up and get on board with all the technology already available.
To sum up, our industry is doing great! Eight percent of event industry growth means tons of opportunity is on the way for some great things to happen for you and your team. If you would like to learn about some ways you can get started working with us and our amazing speakers, search speakers and contact us here.
We can’t wait to get going.
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