Cost per attendee
Costs per attendee are expected to rise next year even as growth in aviation and hotels begins to stabilize, according to a new GBTA report. The cost per person to host a meeting or event actually fell by 3% last year, is expected to increase by 4.3% this year, and is expected to increase by another 4.5% in 2025. The average daily cost per attendee will grow from $162 this year to $169 in 2025, according to the recently released 2025 Global Business Travel Forecast from business travel and meetings company CWT and the Global Business Travel Association (GBTA). Despite rising food and hotel room costs, cost per attendee will increase from 2022 to 2023 as meeting and event organizers shift to holding smaller, more business-focused meetings at more affordable venues and destinations Year-on-year decline. Through 2024 and looking forward to 2025, these costs are expected to rise as the business travel industry continues to recover, increased demand for larger…
Events Industry Council Releases Second Quarter 2024 Report
Listen to audio Strong growth points to return to pre-pandemic stability Global business events The Physical Events Industry Council (EIC) has released its Global Events Barometer for the second quarter of 2024, with results showing positive growth in nearly every region around the world. The hotel group room night index rose to 106, returning to 2019 levels. The RFP activity index, which measures the number of proposals sent by event planners during the quarter, also increased to slightly below 2019 levels. These two key elements demonstrate significant progress in the global events industry, with particularly significant demand from hotel groups in the Middle East and Western Europe. Growth was strongest in Africa, Latin America and the Caribbean. Read more: Brand new and refurbished: meetings in international cities The quarterly report follows EIC's 2023 study of the global economic significance of business events and is part of an overall strategy to actively monitor progress. The quarterly Global Events Barometer provides ongoing…
GBTA releases SMM Wheel update
GBTA has updated its handy SMM Wheel to better cover how strategic meetings management programs are evolving to meet today’s needs. The Global Business Travel Association (GBTA) has updated its Strategic Meetings Management (SMM) Wheel to better reflect how companies manage meeting processes, spend, volume, standards, suppliers and data across the enterprise to ensure they achieve measurable business goals that align with the organization’s overall strategic objectives. GBTA’s SMM Wheel has gone through several iterations since it was first introduced in 2003, with the most recent update coming about eight years ago. “As the SMM category itself and the content that drives the Wheel matured and evolved, especially in the wake of COVID-19, the GBTA Meetings & Events Committee wanted to update it to better reflect the different ways strategic meetings management programs are managed today,” said Henrietta Balint, GBTA European Committee Member. “We also wanted to give it a new aesthetic, a new look and feel.” As with the…
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