Meeting Professionals International has released FutureWatch 2010, its annual study of the meetings industry conducted in partnership with American Express. The study revealed signs of cautious optimism about the meetings industry’s prospects for the coming year. Because MPI’s membership includes both corporate and association meeting planners, the FutureWatch study allows an annual comparison of how those two markets are faring relative to each other. Given the battering that corporate meetings suffered during 2009, it’s not surprising that this year’s study indicates that association meetings will once again be a relatively healthier market segment in the coming year.

When MPI asked meeting planners about the professional challenges they expect to face during 2010, association meeting planners were less troubled than their corporate counterparts across the top eight concerns cited. Among other things, association meeting planners were less concerned about potential budget cuts and the public perception of meetings.

Another key finding of this year’s study is that proximity and practicality will be important attributes of the meetings that will be planned during 2010. This finding buttresses the argument that during times of economic uncertainty, members of local, state and regional associations tend to increase their participation while members of national and international associations tend to curtail their attendance at meetings held in distant locations. Indeed, FutureWatch 2010
concludes that the meetings of local, state and regional groups are more likely to realize attendance gains than national and international gatherings.

Other major findings of FutureWatch 2010 include:
• Competitive pricing on the part of hotels and meetings industry suppliers will continue to be important.
• A back-to-basics philosophy will prevail during the coming year: Value and quality will be more important than frills and extras.
• The return on investment (ROI) that organizations receive from the meetings they organize will continue to be a major concern of meeting planners.
• Social responsibility will be a continuing concern for meeting planners.
• Technology providers will find an enthusiastic market for affordable Internet access at meeting facilities, and for the virtual and web-based technologies that are becoming an increasingly important part of the meetings mix.

While the meetings industry awaits a solid rebound in corporate meetings and incentive travel, the good news is that the meetings of state and regional associations are continuing to provide millions of hotel room nights and billions of dollars in economic impact in cities large and small. Based on MPI’s FutureWatch 2010, the meetings of state and regional associations will play an even more important role in restoring the health of the travel industry in the coming year.

Tim Schneider
Schneider Publishing Company