Cvent

The meetings industry is seeing some good news when it comes to growth. For the first time in a year, meeting professionals are no longer citing the "poor economy" as the most influential trend affecting their business in the coming six months, according to MPI's Business Barometer August 2009.

Additionally, in a significant change since February 2009, new budget cuts, staff reductions and new cancellations were indicated as an important current trend by less than one percent of respondents.

Taking the place of the "poor economy," "poor perceptions/coverage of meetings" is the top trend meeting professionals see affecting business over the next six months. As such, the no frills approach to meetings is staying strong: many planners are selecting non-"luxurious" destinations and venues and are planning fewer celebrations, excursions, etc.

Suppliers report more decisions to book meetings and events are being made in general, according to the study, and there has been a notable increase recently in the number of corporate meeting bookings. However, budgets remain low, which continues to impact meeting attendance in size. About three-quarters of respondents say that attendance to meetings and events has decreased since this time last year.

Areas of growth over the last year have included domestic associations (13 percent net), international associations (three percent net) and governments (20 percent net). Domestic and international corporate meetings have seen the greatest decline compared to last year, at 33 percent and 13 percent net drops, respectively.

Learn more about MPI's Business Barometer.