BARCELONA Business events will continue to flourish this year despite the prevailing global economic slowdown. The 2011 Industry Trends & Market Share report, presented at EIBTM – which took place in Barcelona November 29–December 1, 2011 – and compiled by EIBTM industry analyst Rob Davidson, indicates the demand for corporate meetings is likely to approach peak 2008 levels by year-end.
Davidson observed that industry players’ optimism demonstrated they had learned through the years “to operate effectively within volatile markets, using innovative solutions and cooperating with each other in new and imaginative ways”. He stressed that increasing financial uncertainty made it imperative for professionals to work “to be part of the solution, rather than a cost to businesses”.
The study also highlighted the price differential between popular event hubs (such as Paris, Vienna and London) and second- and third-tier cities, a factor likely to widen in future months, resulting in more opportunities for emerging metropolises. With members of the BRIC (Brazil, Russia, India and China) circle continuing to power global growth and form new trade ties, a spike in the volume of meetings within the group is logical, said Davidson.