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Business projections remain historically weak in the third consecutive Meetings Outlook survey, budgets are expected to continue rising as costs do the same and the demand for meetings and events persists despite new challenges.
While the percentage of respondents indicating a “favorable” outlook for the year ahead remains historically low (45%), the percentage of respondents anticipating “negative” business conditions has decreased for each of the past three quarters.
Live attendance expectations are also historically low with 44% anticipating this to be “favorable” over the next year. The share of respondents anticipating a decrease in live attendance (32%) has, however, itself decreased for the third consecutive quarter as more expect flat numbers.
A clear trend for increasing budget projections has appeared over the past three quarters, even though 31% of respondents still expect negative budget/spend on the horizon.