Recent research by American Express Meetings & Events has revealed that demand for meetings is strongest in the Asia-Pacific region, outpacing America and Europe on the global stage.
Based on survey results of 200 international meeting experts, 57% of respondents in the Asia Pacific region expect the number of meetings to increase this year compared with 42% of North American and 51% of European respondents.
Approximately 30% of respondents in the Asia Pacific region also expect budgets to increase and 40% predict the size of meetings will rise to cater for increased demand for large events.
American Express Meetings & Events vice president Issa Jouaneh credited the trend to the rapid growth of local economies and growing budgets.
“Meetings and event spend is often a good indicator of how companies connect with their clients and prospects. Well-run meetings and events can be key drivers for growth,” he said.
Despite the promising results, Jouaneh reinforced the need for companies to act cautiously amid the current economic climate.
“As companies in the region continue to increase activity in the meetings and event space, it is even more important for them to manage costs – knowing where and when to spend money – as well as ensuing effectiveness,” he said.
In response to the findings, American Express Meetings & Events last week launched the new Meetings Expert service to help companies improve their contract negotiation skills by connecting them with industry experts.
