Global Events Partners (GEP), a Washington, D.C.-based professional services company serving more than 70 destination management companies (DMCs) around the world, has released the results of its annual global DMC survey, in which it forecasts "significant challenges, but cautious optimism" for DMC businesses in 2009.

"For a fourth year running, we are pleased to share these results with the DMC and meeting planning industries," GEP Chairman and CEO Chris White said in a statement. "As we close 2008, a year of considerable turbulence in economics and politics worldwide, 2009 is shaping up as a traditional year, with many challenges, but also potential bright spots on the horizon."

The most significant issues facing DMCs in 2009, according to GEP, will be global economic uncertainty, airline service cuts and fluctuating currencies, all of which are likely to cause revenue shortfalls industry-wide.

In fact, over two-thirds of GEP survey respondents—which included DMC representatives from nearly 40 countries, as well as all major U.S. markets—expect sales to decrease as a result of the global economic crisis.

The market for large meetings—those with 200 or more attendees—is expected to be especially challenging in 2009, according to GEP, which expects more major meetings to be cancelled and downsized next year. Nearly three-quarters of GEP survey respondents believe that the number of large events will decline in the coming 12 months.

On the bright side, many DMCs anticipate an increase in short-term bookings while a majority expect that major markets in the United States and China will continue to be hot spots for meetings thanks to their service offerings, developed infrastructures, and cultural and entertainment offerings.

For more information about GEP and its annual survey, visit www.globaleventspartners.com. This page is protected by Copyright laws. Do Not Copy