With businesses adapting to a “new normal” and moderate growth expected to arrive, the events industry is very much on the up.
This is according to Rob Davidson, the author of the EIBTM Industry Trends Report 2012, who backed event venues and planners to soon experience a change in fortunes despite economic woes.
Also a senior lecturer in event management at the University of Greenwich, Mr Davidson attributed a small drop in business to the eurozone crisis, which hindered industries around the world between April-June this year.
However, the report author says businesses have anticipated as much and are once again recognising the need to motivate their staff.
“The year started off well and lead in times initially extended at the beginning of the year,” Mr Davidson told meetpie.com.
“What’s clear is that there is some growth. I am optimistic. We are seeking developments in the corporate market – companies need to keep closer to clients and motivate their managers. They cannot continue to cut back on business events.”
In a bid to achieve a slight pick up in business by 2012, it seems businesses are also trialling new methods of event planning in order to increase awareness of their brand.
According to a recent index from the Society of Incentive Travel Executives, which surveyed members of the motivational events industry, the use of new technology like social networks has increased “dramatically” in the last 24 months.
Cited by successfulmeetings.com, the report indicated that 46 per cent of planners use social media for marketing promotions and incentive program operations, with Twitter used by 30 per cent of the group.