Welcome to the latest edition of huddle’s event industry news, our rundown of the event news you need to stay up to date on the industry. Whether you are an event professional or new to the world of event management, we have what you need to know right now. This week we see changing preferences from young event attendees, the impact of AI on multilingual events, the impact of labor action and optimism about growth in the meetings industry. Check out our quick rundown to stay informed on the latest event industry news.
Younger Attendees Reshape Conference Expectations
A recent survey by ASM Global has yielded insights into what Millennial and Gen Z attendees want from meetings and conferences. With under-40 attendees now representing 42% of all conference participants, their preferences are driving significant changes in event planning and execution.
Key findings include:
- Work-Conference Balance: Many attendees now seek dedicated spaces within event venues to handle work calls and stay connected with their offices. The report recommends “hush hubs” – quiet work environments that allow attendees to balance conference participation with work responsibilities.
- Evolving F&B Preferences: 44% of younger attendees desire more variety in food options, including health-conscious, locally sourced, gluten-free, dairy-free, vegan, and vegetarian choices. Trending items include gluten-free pizza, birria tacos, hard seltzer, and zero-proof beer.
- Immersive Digital Experiences: A significant number of under-40 respondents emphasized the importance of immersive digital experiences and effective social media engagement before and during events.
These findings suggest a need for event planners to reimagine their approaches to cater to changing expectations and ensure memorable experiences for all attendees.
AI: The Future of Translation at Multilingual Meetings
In an increasingly globalized event landscape, effective communication across language barriers has become crucial. A recent report highlights why AI is emerging as the future of translation at multilingual meetings:
- 79% of planners report an increase in non-first-language English-speaking attendees.
- 53% say at least one-fourth of their attendees aren’t first-language English speakers.
- 88% of event professionals have witnessed attendees speaking at least two languages besides English during events.
- 40% report six or more languages being spoken at their meetings.
AI-powered translation tools, such as those provided by Wordly, are proving to be valuable and cost-efficient solutions for meeting these diverse language needs. These tools not only enhance accessibility but also improve engagement and learning outcomes by enabling attendees to participate in their preferred language.
Labor Strikes Impact Hotel Industry
The hotel industry is facing significant challenges due to ongoing labor strikes. Over 9,000 hotel workers in nine cities, including Boston, Honolulu, San Francisco, and Seattle, went on strike recently. With more strikes authorized in other cities and about 40,000 hotel workers having contracts expiring over the next year, this trend is likely to continue.
Key issues include demands for higher wages and adequate staffing levels. Event planners are advised to:
- Contact hotel venues to confirm all promised services will be delivered as per the contract.
- Monitor the situation closely and be prepared to make changes if necessary.
- Consider including labor disruption remedies in contracts.
- Explore alternative venues or solutions to avoid crossing picket lines.
Organizations like the Informed Meetings Exchange (INMEX) are providing resources to help planners navigate these challenges and steer clients towards dispute-free hotels.
Cautious Optimism for Meetings Industry Growth
A recent report from Deloitte shows a sense of optimism in the meetings industry despite the ongoing challenges and complexities of the global business environment. From hotel bookings to meeting sizes, the industry is showing continuing signs of expansion and recovery. Here are some of th ekey findings:
- 21 of the top 25 largest hotel markets showed higher group demand for meetings in the first half of 2024 compared to the previous year.
- Five markets (Tampa, Orlando, Dallas, Nashville, and Las Vegas) have surpassed 2019 levels.
- Deloitte reports that conferences, trade shows, and exhibitions are playing a significant role in travel growth.
- Event volume has remained steady in 2024, with a 5% increase in U.S. event volume in July compared to the previous year.
- Meetings are getting bigger and slightly longer, according to Knowland data.
Hilton’s CEO Chris Nassetta noted very strong growth in meetings and events for the full year, highlighting the sector’s resilience and potential for recovery.
Business Travel Spending Set to Break Records
Research from The Global Business Travel Association (GBTA) forecasts that global business travel spending will reach a record $1.48 trillion by the end of 2024, surpassing the 2019 level of $1.43 trillion.
This continues the modest growth story we have seen recently, with total spending slowly ticking up to reach 2019 levels over recent years. Some key points from the report include:
- Projected growth to exceed $2 trillion by 2028.
- Asia Pacific was the fastest-growing region in 2023 (36% growth), followed by Eastern Europe (33%) and North America (25%).
- China and the U.S. are expected to be the top two markets for overall business travel spending in 2024.
- Attending meetings, seminars, and training remains the most common purpose of business travel, followed by conventions.
However, challenges such as inflation, geopolitical tensions, and workforce issues continue to impact the industry’s full recovery.
Thanks for joining us in another instalment of Huddle’s Event Industry News. If you want to know more, contact an expert at Huddle today to find out how you can make your event program save your bottom line and the planet!
