One of the main global trends in the MICE industry (meeting, incentive, congress, exhibition) is that meeting and event programs are increasingly being shortened in favor of interactive activities that keep participants engaged.
In recent years, trends have also favored modern solutions, digital marketing in promoting events, gastronomic innovations, and sustainable so-called green meetings, within which organizers strive to do good for the environment and the community. There is also a trend of saving and more responsible consumption. We have written about this topic in the weekly Lider, and now we present 10 global trends in the MICE industry.
1. The number of events has not decreased
A few years ago, various experts predicted that new technology would cause a drastic decline in physical business events; however, this did not happen. The figures have returned to pre-recession levels. Today, there are twice as many participants in business events worldwide as there were in the mid-1990s.
2. Meetings are becoming increasingly interactive
Information at events no longer flows in just one direction; instead of one person speaking while others listen, today all participants actively engage. Interaction has been significantly enhanced by technological advancements, social networks, and various applications that facilitate communication.
3. Greater focus on return on investment
Event planners and organizers today pay much more attention to the profitability of an event, which is most often measured through participant feedback. Participants measure the profitability of attending an event based on the quality of networking and new business deals made.
4. Location selection depends on costs
Prices in all segments of organizing business events are globally lower than before the economic crisis. In the U.S., in 2007, revenue per participant was $190, and today it is $163. Hotels, convention centers, and local communities offer good opportunities, and a destination that does not adjust its pricing to this trend is uncompetitive.
5. Events are expanding
With the help of online forums, social networks, and other web tools, event participants engage before the physical realization of the conference and remain involved in the processes until the event concludes.
6. DMOs are behind the trends
Destination management companies (DMOs) are considered crucial for business event planners. They have evolved from merely organizing transportation to providing complete professional services for destination events. DMOs are expected to fully understand the value of their clients’ brands, be dynamic, and think outside the box.
7. Events focus on regional markets
Planners must continuously adapt to new trends in demand, and currently, this trend is the organization of events with specific themes within regional frameworks. A regional approach allows for cost and time efficiency.
8. Technology has become a tool for socialization
Smartphones, tablets, and broadband internet have become crucial for organizing business events. Technology and online meetings have not replaced face-to-face meetings among businesspeople, but solutions are being sought on how to incorporate technology into business gatherings. It is becoming a tool for socially enriching physical contact.
9. Wellness becomes part of the program
Wellness, once considered hedonism, has now become an integral part of business events. Experts predict that it will play an increasingly significant role in conference programs (mini treatments between obligations, morning group walks, as well as wellness themes that are increasingly becoming part of conference schedules). Catering is also increasingly turning to healthier food options.
10. Hostels are becoming ‘in’ among businesspeople
Businesspeople who typically stayed in four- and five-star hotels are now seeking alternative, cheaper accommodations. One of the main reasons is the drastic change in the appearance and service of today’s hostels. In Europe, a new type of hostel is developing, known as poshtels, featuring luxurious decor but maintaining the hostel spirit; socialization that benefits everyone on the road.
