- IAPCO has also collected and published its own statistical results related to this industry in which growth went from 1,154 meetings in 2006 to 3,454 meetings in 2010
- In spite of the economic downturn during which companies cut back on unnecessary costs, the growth in corporate meeting numbers remained constant making it an essential income source for the US economy
Shifting Roles in Destination Management Companies
- Corporate meetings, especially those that require travel to different countries are not usually organized in-house
- Increasingly companies outsource the planning and organizing of corporate meetings to external planners called Destination
- Management companies (DMCs) who specialize in the destinations they represent
- As more and more corporate meetings tend to be combined with incentive travel, companies are increases are increasingly looking for a one-stop service
Technology, cost savings and green meetings
- In a search for other cost-effective alternatives, companies are employing tools such as web conferencing, VDO conferencing and virtual meetings to
Compliment corporate meetings since they have proven to be cost-effective options
- Apart from adopting technology to avoid excessive cost in corporate meetings, energy conservation is another trend in the industry
- Sustainability and green initiatives will continue to be another important factor employed by clients when choosing meeting destinations and venues
- The shift in demand for green or environmentally friendly meetings has also increased the demand for facilities or meeting venues that can accommodate such needs
- Taking into account the state of the global economy an concerns over global warming, many professionals believe the industry is headed in a direction that involves intensive use of technology and greener initiatives to save corporate meeting costs
- Corporate meetings previously held at venues at distant destinations will increasingly move to nearer locations