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Majority of meetings buyers see signs of recovery
More than 60% of the corporate and government conference and events buyers who responded to a recent Meetings Industry Association’s (MIA) survey said claim their own organisations have begun to see signs of the economic recovery, Ian Whiteling, Joint Editor in Chief, at Meetings Review.

The report is the fourth in an ongoing series from the MIA on the “actual Impact of the credit crunch” on the conference and events market, and also reveals the performance of the industry across a number of indicative factors, highlighting emerging trends in each sector.

Sponsored by the Confex Group, the report was conducted during October and November 2009. The survey results detail the performance and predicted performance of the industry over the prior six months and coming six months, as forecast by individuals representing venues and buyers from all sectors of the industry.

The report reveals that as the recovery progresses, 37.2% of respondents felt the greatest challenges will be increasing yield, while 15.3% felt it would be achieving value for money for clients. Indeed, the importance of delivering value for money featured prominently across answers to several questions, and was sighted as the highest priority when selecting venues by 69.4%.

Consistent with the findings of the three previous reports, the fourth confirms that lead times continue to shorten, with 87% of respondents claiming this to be the case. Meanwhile, 74% stated that lead times are now between two and eight weeks.

“With this series of reports developing, we’re receiving an ever clearer picture of how the recession has affected the meetings industry and are beginning to see how it will recover,” said MIA chief executive Jane Evans.

“The opportunities to win business are expected to grow in 2010, and the MIA is working to prepare our members and ensure they are well positioned to achieve maximum success.”

The MIA survey, the Actual Impact of the Credit Crunch – Autumn 2009, is available direct from the association.