The number of Americans organising and undertaking business meetings has risen in recent months, meetpie.com reports.
New IBTM Global Meetings Industry Research figures found that businesses are now looking to arrange more face-to-face meetings than they had done in recent years. Much of this growth, it is thought, can be attributed to an improved financial outlook that could not only make potential deals more lucrative but also justify travel a lot more than when budgets were tight.
In total, the average American business is now organising 25 business meetings per year, up by a fifth on the 20 meeting average reported in 2012. Furthermore, this growth looks set to continue throughout 2013, with 44 per cent of those surveyed expecting further rises from their own firms over the coming 12 months.
As the EU and US look to create a free trade agreement, these meetings could see more American businesspeople make the journey across the Atlantic – looking to attend a conference venue in London to organise new international trade deals.
This forecast is backed up by the IBTM Global Meetings Industry Research figures, which found that travel budgets had also increased, with annual spend rising by 1.5 per cent over the past year. Looking ahead, this growth is set to pale in comparison to the 5.2 per cent budget growth expected for 2013, silobreaker.com claims.
It also found that over half of businesses surveyed were looking to expand into Europe, with the UK, France and Germany outlined as some of the key economies responsible for attracting “significant numbers of events.”