Report. Meeting Professionals International (MPI) has published its Meetings OutlookTM, 2014 Fall Edition. Meetings Outlook presents future industry trends and predictions from MPI members, including meeting professionals on MPI’s Business Research Panel. The newest installment of the quarterly special report shows increasing costs for services across the meeting and event spectrum in concert with only slight budgetary growth is setting up a more challenging year ahead.
Key predictions for 2015 include the following:
Costs will increase greater than budgets with air travel (5 percent) and F&B/catering (4 percent) growing the most
Overall budget growth: 1.7 percent
Organizations are investing more in employees
Of all meeting/event types, training, educational events and sales meetings will grow the most, incentives will also be on the rise after several weak years
Overall business for meeting and event professionals in the U.S. and Europe will grow at 3.2 percent and 3.6 percent, respectively.
To view the full report, visit www.mpiweb.org/meetingsoutlook. A printed copy is included in the November 2014 issue of MPI’s award-winning magazine, The Meeting Professional®, as well.