CWT Meetings & Events released the 2015 Meetings and Events Forecast supplement to the 2015 Global Travel Price Outlook, CWT’s annual price forecast, conducted for the first time this year in partnership with the GBTA Foundation.
The report’s findings are condensed in the conclusions below. You can view the full report here.
Try going hybrid
Implementing virtual elements into live events can save on costs, draw in remote attendees unable to participate in person, and extend event duration through online-hosted content.
Get savvy with sustenance
Ordering local, seasonal produce will cut food costs, reduce carbon footprint and provide healthy, vitamin-packed options that link with the “brain food” trend of 2015.
Vote domestic over international
Basing your events in-country or in-region will minimize travel costs and carbon footprint, and help maintain delegate satisfaction through reduced travel times.
Reducing the number of partners you do business with will increase your bargaining power. Choose partners that can support your business at a local, regional or global basis.
Consolidate your hotel program
Reviewing your spend based on travel patterns, key markets and emerging markets will help you identify opportunities to drive synergies and leverage spend across transient and meetings, using properties that can effectively accommodate both types of travel.
Extend your lead-time
Ensuring your event has a longer lead period will give you greater availability, leave you more time to negotiate on rates, and enable you to research and implement effective technology solutions.
Manage meetings from end-to-end
Implementing a technology platform that enables delegates to register online and you to capture budget information will increase efficiencies and help mitigate costs.
Leverage agency relationships
Engaging with an agency that has strong industry relationships will help ensure a better deal, as suppliers continue to clamp down on cancelation and attrition clauses globally.
View the full report here.
Lead image report cover courtesy of CWT Meetings & Events.