Slowing economy takes its toll on meeting programsBy Irene Korn
With the softening economy making the news every day, it's no surprise that the latest MeetingNews survey of 344 corporate and association meeting planners showed that a majority of planners are now having their budgets slashed. Corporate planners are feeling the sting slightly more than association planners: 66 percent of the corporate planners polled said their budgets have already been reduced, versus 52.5 percent among association planners.
Attendance too, has dropped, according to 40 percent of the corporate planners and 47.5 percent of the association planners surveyed. At press time, Charmaine Wright, associate director of Washington, DC-based National Tax Association, was waiting for her final numbers for the group's spring meeting, but she said, "It's a safe bet that our numbers will not reach what they've been in the past. Registration has been slow, and what we’re seeing is that government agencies that previously sent 16 or so attendees have only two signed up this year. We’re definitely seeing the impact of the economy on this meeting."
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