The
development of the business events industry will depend on moves toward more
strategic, long-term thinking, rather than a focus on short-term operational
delivery, according to 54 per cent of respondents to the IMEX 'Power of 10' findings.
The survey,
commissioned to mark IMEX Frankfurt’s 10th anniversary, also showed a need
for the industry to prove its impact, with 53 per cent of respondents saying
the industry needed to position itself as an engine of economic development,
while 52 per cent said it needed to prove the long-term and broader impact of
meetings. Professionalisation of the industry was deemed a key priority by 41
per cent of respondents.
The survey
was undertaken by Fast Future, encompassing 765 online interviews and 112 phone
interviews with respondents from 68 countries across six continents.
A ’perfect storm
of mega trends’ had dominated the industry’s development over the last decade
and would continue to impact business over the next decade, respondents said,
including global economic uncertainty, the penetration of the internet and new
technologies, and the move towards shorter and faster business cycles.
Fast Future
CEO Rohit Talwar said the industry would increasingly need to
recruit “rounded, professional, strategic, business-oriented thinkers” to
address the changing business climate.
The top 10
challenges for the next 10 years will be:
1. Evolving
a distinctive industry persona, independent of tourism and representative of
the role of events in knowledge creation
2.
Establishing universal economic impact models
3. Proving
relevance and value
4. Thinking
and acting strategically
5.
Nurturing agility and flexibility
6.
Personalising and deepening the learning experience, and capturing learner
outcomes
7.
Experimenting with business models and revenue streams
8. Adopting
value chain thinking
9.
Acquiring, retaining and developing talent and embracing diversity
10.
Developing tomorrow’s leaders and managers.
Six
sub-reports are expected to be released over the coming months to explore the
findings in greater depth.