Martin Fullard, Director of News and Content at Davies Tanner, delves into the insights of the Global Destination Report 2023, shedding light on challenges and opportunities in the global business events economy. The report indicates a positive trend in the economic impact of business meetings, with 75% noting an increase in direct economic value. International meetings particularly experienced substantial growth. While the emphasis on legacy goals persists, assessing their impact proves challenging.
Funding emerges as a pivotal factor, with 46% of destinations reporting an increase in budget, indicating government acknowledgment and support for the business events industry. Those facing decreases or stagnant funding (54%) feel their governments don’t fully comprehend the sector’s importance. The report identifies threats such as climate change, sustainability, economic factors, political unrest, and geographical accessibility. Education is deemed a key countermeasure against threats, underscoring the need for a comprehensive understanding of the importance of business events for industry resilience and future growth.
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