The good news is that with the availability of cheap airplane tickets, discount hotel rooms, and discount travel packages, as well as a modest uptick in the economy, the number of business meetings are expected to increase in 2012, though they will be shorter, smaller, busier and closer to home, according to an American Express survey.
The polling of meeting planners, buyers and hotel suppliers found:
60 percent anticipate the number of meeting to rise in 2012
40 percent of hotel suppliers expect the number of attendees per meeting will drop
33 percent of hotel suppliers anticipate the length of meetings will fall because of pressure to do more with less
53 percent of meeting suppliers expect meetings will be held close to businesses conducting them in order to reduce costs.
In October business travelers increasingly decided to fly in coach vs. premium seating in order to reduce costs during a challenging global economic time.
Premium (first and business class) air travel dropped significantly in October on international flights from the trend it had been running. Year to date premium international travel sales were up through September almost 7 percent vs. increasing only 0.1 percent in October.
Given that October coach travel grew 4 percent, it appears business travelers are increasingly flying in cheaper seats.
According to authors of the American Express survey Companies are keen to avoid the perception of excessive spending on events and many companies are following the pharmaceutical industrys lead by incorporating a code of compliance that limits the use of five star properties or those with certain resort type amenities such as golf courses or spas.
Large cities are expected to continue to be the most attractive sites for American meetings in 2012 with second tier cities attracting those more price conscious businesses. www.cheapfares.com