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Confidence in meetings industry falling, MPI finds

Confidence in the industry fell by 12 per cent last year, according to research by MPI

Pictured: MPI’s Jessie States presents the findings at IMEX Frankfurt this week

Confidence in the events industry fell by 12 per cent last year, according to research by MPI, the international association of meetings professionals.

In Q4 of 2016, 58 per cent of MPI members surveyed thought that industry conditions would be favourable over the next 12 months. This compares to 70 per cent in Q1 of 2016.

The findings were presented at MPI’s Meetings Outlook presentation at IMEX 2017 in Frankfurt this week.

The same research found that 22 per cent of MPI members thought that conditions would be flat over the next 12 months and 20 per cent thought conditions would be unfavourable.

MPI’s Jessie States said: “It’s like you’re in an F1 car coming up to a turn: you’re still going fast, but just not going as fast as before.”

The fall in confidence was put down to it being a seller’s market, with higher costs, fewer buyer incentives and less negotiating leverage.

The research also found that 81 per cent of members believe that their CEOs recognise the importance of events.

States said: “CEOs have understood how events yield tremendous value for companies.

“We know how much ROI events bring to an organisation, we have those numbers and CEOs are starting to see that as well. It’s great that executives are starting to see the value that we bring.

The research also found that 45 per cent of planners say that budgets are going up – but largely due to increased spend on security.

States said: “All of that is going towards increased security and safety.”

According to the findings, in the Eurozone domestic corporate meetings are increasing by 44 per cent, while government meetings are falling by 32 per cent.

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