Tech Sector Recovery Lags

The number of meetings held by financial, insurance, pharmaceutical, and other industries is rising modestly after three years of dismal activity. But although the technology-laden NASDAQ index saw a 50-percent rise in value in 2003, the tech sector is still stubbornly soft on the meetings side.

Sheryl Sookman, president of The Meeting Connection in Novato, CA, says, "Some of the tech meetings that were put on hold the past two years are coming to fruition, and the attendance is a little stronger lately. But the NASDAQ's boost last year has not meant a corollary boost in tech-event spending yet." Laurie Sharp, president of Sharp Events in San Francisco and president of the Northern California chapter of Meeting Professionals International, adds that meetings demand within the tech sector differs by niche.

In San Jose, CA, recent occupancy at the dozen hotels near the McEnery Convention Center has been just 37 percent. Dan Fenton, president and CEO of the San Jose CVB, says, "We've not seen in the past eighteen months anywhere near the type of movement we thought we'd see. New shows based on new product lines and user conferences are not coming much." The good news: "Existing shows are growing a bit, and we are focusing on the emerging biotech market."