Rising fuel prices and airfare increases are a concern for the events industry, with more than 60 per cent of respondents to Meetings Professionals International’s (MPI) latest Business Barometer saying rising travel costs have forced them to change the way they operate their business.
The bi-monthly report surveys MPI's Business Research Panel, which is made up of senior-level meeting professionals from the association’s 23,000 members.
There were, however, positive signs, as 73 per cent of respondents said that business conditions were better than this time last year, and 70 per cent predicted that their meeting and event-related business would improve over the next few months. Employment was also up, with an increase in contract and full-time employment in the US and more contract and part-time jobs in the European events market.
The Barometer showed that the greatest increase in business in the US was coming from the domestic corporate and domestic association market for the fourth month in a row, while in Europe the biggest increases were from the domestic corporate and international corporate sector. The greatest declines in both the US and Europe continues to come from the Government sectors.