According to a survey by American Express Global Business Travel Meetings & Events, the majority of meetings and events professionals expect an increase in spending and in-person demand in 2024. About 67% of respondents anticipate a year-over-year increase in meeting spending, with 13% projecting an increase of more than 10%.
Cost is identified as the top challenge for meetings in 2024 by 53% of respondents, followed by budget cuts at 44%. Interestingly, only 23% expect tracking carbon emissions to be a challenge. Despite sustainability concerns, 80% of respondents have well-defined strategic meeting management programs, and over two-thirds consider sustainability “very” or “extremely” important in planning events.
The survey reveals that 59% anticipate in-person events in 2024, 21% virtual, and 20% hybrid. Regarding sustainability challenges, 40% cite minimizing waste, 39% struggle with identifying sustainable suppliers, and 35% face budget constraints in implementing sustainable practices for meetings.
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