Meetings Outlook, MPI’s award-winning, signature original research, has charted the ups and downs of the industry—and the individuals within it—throughout the coronavirus pandemic and its crippling disruptions.
Exploring the quarterly results one at a time provides a snapshot of what meeting professionals are experiencing; looking at trend lines for key data points across the full year, meanwhile, is simultaneously heartbreaking and showcasing some optimism.
Business Conditions
Overall business condition projections took a great, positive leap up at the end of the year—significantly improved over the dire summer outlook. Thus far, there’s only been that one quarter suggesting a positive business shift. If this continues with the February 2021 edition of Meetings Outlook, it’ll be easier to suggest and envision industry recovery.
Attendance Forecasts
Live attendance projections appear as though they may be creeping back up from an all-time low as 27 percent of respondents now envision favorable in-person numbers over the next year. Virtual attendance projections, of course, remain incredibly strong. As with the business conditions data, how attendance forecasts trend in the next Meetings Outlook survey should provide a better window into the industry’s recovery.
Projected Budget/Spend
As meeting and event business languishes, near-future financial support is also weakening. It’s exceptionally difficult to grow a business while minimizing spend significantly. Organizations investing in their future are likely to see the rewards as the industry’s recovery progresses.
Whose Market?
This year saw an incredible market shift as the pandemic raged and face-to-face events were cancelled. As more progress is made against the coronavirus, expect a major shakeup in these results.
Read more from our "Navigating 2021" special report in the December issue of The Meeting Professional.
