M&E spend up in 2013: CWT

M&E spend up in 2013: CWT
By admin

Meeting and events spending is set to increase in 2013, while group sizes are likely to soften as inflation takes its toll in the Asia Pacific, new figures suggest.

The latest Carlson Wagonlit Travel (CWT) forecast predicts that meetings and events spending will increase six percent next year as economies in the Asia Pacific region begin to stabilize.

Group sizes are also set to decrease around 3.8% as organisations opt for a higher quantity of smaller meetings to offset rising supplier prices.

In other findings, Australian airline prices are likely to increase up to 1.3% and daily hotel rates are set to increase between 3.4 to 6.4%.

Delivering the findings earlier this week, senior vice president global product marketing and CWT Solutions Group Nick Vournakis explained that inflation and market uncertainty were to blame.

“Price increases in 2013 will begin to level off in most regions compared to 2012 as booming economies like Asia Pacific’s begin to normalize, and as uncertainty remains in Europe,” he said. “[But] slightly higher prices will be the reality again next year as demand for travel outpaces supply in most places.”

Further afield, daily meeting and event spending is forecast to increase 11% in Latin America in 2013 and just one percent in Europe. Group sizes are estimated to increase six percent in North America.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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