The Meetings Industry Who We Are and Why

The Meetings Industry: Who We Are and Why You Need to Know About Us!

What is the Meetings Industry? It is an industry consisting of organizations engaged in the planning, servicing and accommodation of meetings, conventions and exhibitions

Who’s Involved? • Clients are typically associations, corporations, governments or NGO’s • Direct suppliers include meeting planners, event managers, convention centres, technology suppliers and hotels • Indirect suppliers include things like local transport, attractions restaurants, entertainment and retailers

Our Industry Plays a Key Role in Supporting… • • • The business community The professional community Government policy The tourism industry The public as a whole

What Distinguishes the Industry? It’s not tourism: • a business to business sell • close ties to business and academic communities • different clients, markets, decision factors • but it can support tourism (builds destination profile, supports the creation of new tourism infrastructure)

What Distinguishes the Industry? It’s a mix of public and private sectors: • The industry operates in a highly competitive private sector environment, but… • Facilities like convention centres typically have government owners • Organizers can be associations, corporations, governments or entrepreneurs • There is often a need to balance market demands and public expectations

What Distinguishes the Industry? It’s valuable…… • Big business world wide • Delegates spend 2 -3 times more than other types of visitors • The benefits are widely dispersed throughout many sectors of the economy • It often represents “new” money coming in from outside the local economy • It builds value for other industries

What Distinguishes the Industry? …. . but demanding: • many destinations wants the benefits • long lead times for booking require “patient investment” • an efficient but challenging sales process: – one sale can create thousands of visits – buyers, sellers know a lot about each other – global rotation creates world-wide standards

Three Key Roles: • An economic role • A business development role • A community enhancement role

The Economic Role: • Generates delegate / exhibitor spending • Promotes visits and utilizes hospitality infrastructure (off season implications) • Promotes tourism by creating pre / post conference visits, adding accompanying persons and encouraging return visits • Attracts and supports new infrastructure investment such as hotels

The Business Development Role: • Attracts business audiences that wouldn’t otherwise visit • Exposes delegates to the city and its investment opportunities • Provides a vehicle for local business and professional groups to host colleagues • Creates a showcase for local products and services

The Community Role: • Creates access to professional development opportunities • Brings world class knowledge and expertise into the community • Provides facilities and services for community’s own events and celebrations • Generates non-resident tax revenues that can be applied to community services

A Highly Competitive Industry: • Destinations world-wide recognize and want the benefits conventions generate • Competition is intense in many markets • Service and facility expectations are higher than ever • A buyer’s market now, so…. • Success demands quality, commitment and investment

Government Policy a Key Factor! • Concentration of buying power making site decision more value-sensitive • Ongoing investment required to remain competitive • Clients are realizing the benefits they bring • “Total experience” is of increasing importance • Transportation policy is a big issue • Need to balance security with accessibility

The Industry Thrives When… • • • The local cost structure is competitive Taxation levels are acceptable There is convenient and affordable access The community makes delegates welcome There is a safe and secure environment Immigration and security processes are reasonable • There is a supportive business and academic community

The Industry Suffers When…

A Very Positive Outlook: • The meetings industry demonstrated great resilience following 9/ll, last recession • Recent studies all indicating industry growth last year • Technology is enhancing meetings, not threatening them • Industry observers see continuing strength in the need for “face-to-face” meetings in an Internet age!

A Critical Role for the Future: • Meetings, conventions and exhibitions support professional, research, technology and academic development • They are critical vehicles for business advancement • They help build networks and bridge cultural differences • They are vehicles for finding solutions to global issues!