Despite uncertain economic conditions in some regions, the global meetings industry will continue to grow in the year ahead, predicts the meetings and events division of Carlson Wagonlit Travel, CWT Meetings & Events, which yesterday published its "2016 Meetings and Events Forecast."
"While the news of overall growth is positive, the report also sounds a note of caution," the company indicated in a press release. "As attrition and cancellation terms are becoming stricter, supplier negotiations will be more important than ever to meeting planners."
Meetings in Asia Pacific face the most challenges in 2016, according to CWT's forecast, which notes the region's unpredictable economy.
"Although," CWT noted, "stronger demand from China and India could drive up group size and prices."
In North America, demand for meeting space continues to outpace supply, resulting in a sellers' market, while in Europe buyers still have the upper hand.
"Our forecast is about providing clients with valuable insight for the coming year, so they armed with the most relevant information for their upcoming budgeting and negotiations," said David Moran, executive vice president, CWT. "Whether they are focused on meetings, events, or the widespread global adoption of strategic meetings management, it's a vital tool in preparing for the year ahead."
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