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The 2010 FutureWatch Report, an annual survey of meeting planners and suppliers conducted by Meeting Professionals International and American Express, was released on January 11 and provides insights and outlooks into the meetings industry for the coming year.

While the 2009 Survey was dominated by concerns over the worsening economy and the uncertainty and anxiety it produced among planners and suppliers alike, the uneasy tone has lightened somewhat according to this year’s results. The economy wasn’t even listed as a top concern for planners; instead, their top three concerns included budget cuts, doing more with less, and a shortage of staff.

These issues indicate that the industry is adopting a new attitude towards the economy. Instead of distressing over the repercussions the economic outlook previously had in store for the industry, planners and suppliers are now accepting the reality of the situation and adapting to the new trends and practices that have emerged. 

Planners reported that they expect a 2.8% increase in meetings this year and are now focusing more on working efficiently, measuring and guaranteeing ROI, and eliminating frills.  Planners are now paying more attention to reverting back to simpler meetings without all the glitz and garnish, and public perception of meetings is no longer a top concern but remains a challenge for planners in 2010.  When it comes down to choosing destinations for events, meeting planners are not as concerned with perception as they are with overall cost. To maintain lower costs, U.S. planners reported that they will hold 80% of their meetings within the United States, which is a significant increase from 61% in 2009. 

As far as technology and meetings goes, planners said that their number one priority is “improving the presentation or audiovisual experience at meetings,” and that providing good alternatives to live meetings is also important.  Regardless of whether they’re live or virtual, the value of meetings is also especially important to planners according to the 70% who say they use some sort of measurement to gauge value. 

So what do these current trends reflect about the state of the industry? First, it suggests that planners and suppliers are adapting and surviving in the new economic climate by reprioritizing their main concerns and addressing each accordingly.  Cost will remain key into 2010 and value will be more important than ever to ensure meetings spend is not wasted.  The trend of simple, back to basics meetings highlights this emphasis on value, and corporate social responsibility rounds out the way planners will approach meetings in 2010. 

The 2010 FutureWatch demonstrates the resiliency, optimism, adaptability of the meetings and events industry and gives us something to look forward to in the new year.