2010 Market Report Executive Summary

February 22, 2010

The results are in for our 14th Annual Market Report – the oldest, and only, benchmarking study for the Canadian meetings and incentive travel industry. In summary, optimism is back for 2010, and the predictions overwhelming.

Here are the highlights. To view the full executive summary in pdf click here.

Industry Averages
Overall, the Canadian meetings industry retracted by 13% in 2009, versus 2008, and is forecasted to increase 14% in 2010, versus 2009, representing a huge rebound back to 2008 levels.

Meetings
Percentage of Canadian meeting planners who feel meetings will stay the same or increase in 2010, versus 2009:

Canada: 77%
U.S.: 55%
International: 52%

Return on Investment
89% of Canadian meeting planners do not measure, or do not have a standard method of measuring, the ROI on their events.

51% of Canadian meeting planners have felt more pressure to calculate ROI on your meetings/events since the recession started.

Green Meetings
13% – reported decrease in green meetings in 2009, from 2008.

Incentive Travel
Organizations reported a 32% drop in incentive-travel spending in 2009, versus 2008, but are projecting a 29% increase in 2010, versus 2009. Overall incentive-travel spending by organizations will be down 12% in 2010, versus 2008.

Top Incentive Travel Destinations
Canada – Toronto, Vancouver, Montreal, Banff, Calgary

U.S. – Las Vegas, New York, Scottsdale, Washington, Hawaii

Mexico/Caribbean – Mexico, Bahamas, Barbados, Jamaica, Caribbean Cruise

International – Spain, Italy, France, United Kingdom, Germany