China and Asia Meetings Industry Research Released

The economic climate and pressure to reduce costs remain the factors most likely to influence events in the next 12 months, according to the results of the annual "China and Asia Meetings Industry Research Report," released at this year’s China Incentive Business Travel and Meetings exhibition (CIBTM), which was held at the China National Convention Centre in Beijing. It was also revealed that China and Asia offer huge potential for growth in the domestic, regional, international inbound and outbound markets for all types of meetings and events. The report also states that passport and visa issues have become more important as the volume of outbound business has increased and that CSR and environmental issues are now influential for over 80 percent of respondents. 


According to the report, the most popular destinations for outbound business are Taiwan, Macau, South Korea, Singapore, Thailand, and Malaysia. Beyond Asia, North America was the most popular, followed by Europe, the Middle East, and Africa. When asked to forecast destinations chosen by respondents for their events over the next year, Beijing, Shanghai, and Hong Kong continued to dominate, although in China, Shenzhen, Chengdu, and Qingdao were all included for the first time. 

China is expected to benefit from the economic impact of the industry as it grows throughout the country in the future. Buyers said that the most important influencing factors when placing an event were cost followed by location, quality of accommodation, quality of service, and the size of the venue plus time of year. However, those rating satisfaction levels for their events in China showed that there is still room for improvement in facilities as 44 percent rated destinations they used as very good or excellent, a reduction from 60 percent last year, revealing the need for more training and professional skills to handle business.