Planners should expect meetings and events (M&E) providers around the world to increase prices in 2014, bumping up per attendee costs, according to Carlson Wagonlit Travel’s (CWT) just-released 2014 Travel Price Forecast.
CWT’s key M&E findings include:
- Latin America will see the highest (four to seven per cent) price increases for daily attendees. As a result, group size in the region will fall by as much as two percent, and the region may see a switch to domestic instead of international meetings.
- In Asia Pacific, a booming M&E industry will see group size increase three to five per cent, while daily costs per attendee rise four to five per cent.
- Ongoing economic concerns in the Eurozone are making meeting planners cautious, at the same time as challenging meeting suppliers. Daily attendee costs will remain flat as suppliers reduce their prices to stimulate demand, while attendee numbers could reduce by as much as three per cent as planners continue to exercise restraint.
- Demand for meeting space continues to outstrip supply in North America, with group size increasing by up to 1.5 per cent, leading to daily attendee costs rising as much as 5.5 per cent.
Overall, CWT is forecasting that worldwide travel prices will increase moderately in 2014. These increases are in line with the limited economic growth expected across the globe.