Given the dynamism of the economic, political and technological developments faced by the meeting industry, anticipation of how the industry will evolve across the continents and the implications to events, venues and destinations strategy have been apparent in many publications, including Convention 2020 - a study sponsored by the International Congress and Convention Association (ICCA), a study by Professor Dr. Oliver Klante of HSBA Hamburg School of Business Administration on “What will the exhibition industry look like in the year 2020?”, an analysis of the 2009 Exhibition Industry and Future Outlook by Center for Exhibition Industry Research INDEX, and several IMEX research projects on the future of MICE industry outlook. The sources revealed that even with the economic downturn, the overall prospects of the exhibitions, meetings and events industry remain positive. Leaner, smarter and more cost effective events are emphasized with three interlinked aspects highlighted in particular.

Firstly, the use of technology is reported to be better integrated to conferences. This means that a reduced number and size of events, and that creativity and alternatives are being sought when making the decision to attend them. In other words, meetings are expected to become more ‘vital’, with streamline new meetings products, new business and pricing models. In fact, smaller but specialized meetings at lower cost venues like libraries, wine bars etc., as well as a likelihood of new business models, where an offering of strong price-based incentives to attract desired delegates and a payment based on the value received, whereby the event owners will have to guarantee quantifiable return on investment, are exemplified. Indeed, this reflects how the delegates are affected by time and cost pressures as they are expected to be selective and careful about their spending of corporate resources on meetings.

Secondly, the factors drawing people to attend the meetings were prone to be more qualitative than otherwise. Together with the first aspect, this has resulted in a future for a greater and more efficient ability to communicate, share data and negotiate at any time and in any place with clients, suppliers, and business partners, whereby quality of the content and high levels of interaction between delegates and speakers are specified as being of importance. As a matter of fact, personalization will be expected as the opportunities to use interactive technologies to individualize delegates’ experiences grow. The delegates could, for example, obtain personalized menus at the meetings.

Finally, issues such as value, ROI and environmental considerations, corporate social responsibility and sustainability have been embarked upon satisfactorily by many parties as the issues of climate change and the carbon footprint grow across the industry.