Meetings and events demand will grow between 5-10% in 2019, and the average size of meetings will rise in nearly every region, according to the 2019 Meetings & Events Future Trends report, published today by CWT Meetings & Events, a division of global travel management company Carlson Wagonlit Travel (CWT).
The global meetings and events industry can look forward to a buoyant 2019, said Kurt Ekert, President and CEO of Carlson Wagonlit Travel. On top of growing demand worldwide, we also expect global hotel rates to rise 3.7%, and flight prices 2.6%.
The report also ranks the top M&E destinations in each region, and gives an overview of industry trends.
North America: a buoyant economy is driving growth. CWT M&E is forecasting hotel prices to rise 2.8% in 2019, which will push up costs for meetings buyers. There will be some inflation in flight prices, which are expected to rise 1.8%.
Latin America: growth is still expected to be slow. Hotel prices will fall 1.3%, while air prices will drop 2%.
Asia Pacific: is expected to lead the way for global growth in 2019. We are predicting airfares will rise 3.2%, and hotel rates 5.1%.
EMEA: the industry remains positive. Airfares in Western Europe are predicted to rise 4.8%. However, in Eastern Europe, rates are projected to fall 2.3%, while in the Middle East and Africa theres a downward trend of 2%.
Hotel prices in Western Europe are forecast to rise 5.6% next year and decline 1.9% in Eastern Europe, while the forecast for Middle East and Africa is a 1.5% decrease.
CWT Meetings & Events delivers 38,500 innovative, high-quality projects for customers every year “ across all industry sectors, globally. Our creative know-how helps us deliver awe-inspiring events, and our logistics expertise guarantees professional meeting services, group travel, and compliance. We manage your strategic meetings management programs with one aim in mind “ to maximize your return on investment.
CWT Meetings & Events is Carlson Wagonlit Travels meeting and events division.