Business Travel and Its Impact on 2009 Meetings
This is an interesting report from AMEX about where business travel is going in 2009 and its possible impact on meeting behavior. While the report focuses on business travel and corporate-type meetings, the correlations to association meetings are obvious.
The Bottom Line
- Airfares and lodging will go up on domestic travel by about 3%, but travelers may see up to a net $400 increase per trip due to bag fees and higher costs for other items such as dining, parking, etc. (OUCH!)
- Pressure will be on meetings to prove their value and they will likely feel budgets strained with pressure to raise fees to exhibitors and sponsors while shortening the event overall.
The Key to 2009 Meetings
VALUE – VALUE – VALUE!
If your meetings truly offer a great value (not to be confused with cheap), with good educational sessions, meaningful and inspirational networking, and quality on-site educational materials in print and supporting digital media, including social media tools to connect speakers and authors before, during and after the meeting… Well, then you are all set!
Consider the TED events with registration fees of $4500 (Yes, I said $4500!) and up where attendees must submit an application that is accepted or rejected by show management. At those rates, there has to be a value proposition that rocks!
By the way, the conference sells out EVERY YEAR!
Be sure to catch my previous post on “The Value of Conferences” to get five ways you can increase your meetings value.