Closer to home...companies are likely to hold travel conferences closer to home. Photo: Paul Rovere
The travel conference is back, but companies will be paying more attention to return on investment.
Walk around the CBD of any big city and you're sure to spot people wearing identical T-shirts and caps covered in slogans.
They're probably in town for a conference.
The worldwide conference industry is worth $US650 billion ($748 billion), and that's one reason why governments work so hard to entice major events to their big cities.
But the industry was hit in 2009, with a 20 per cent drop in the number of people travelling for conferences compared with 2007.
That is set to change, as companies that put off regular large meetings and conferences for two years are back in planning mode again.
"It's bouncing back quite strongly," Carlson Wagonlit Travel managing director Australia David Greenland says.
"Meetings and events have been an increasingly topical area for corporations."
However, organisers are now more prudent and likely to shun extravagance.
Australian companies are now more likely to hold conferences at home rather than overseas, and they are paying much closer attention to return on investment, Greenland says.
The conference market is returning first in the Middle East, and it probably won't bounce back fully in Europe and North America until at least next year, he says.
Las Vegas, boasting the largest and probably best conference facilities in the world, is still a popular venue
Greenland envisages China will take off eventually as a conference location, though they are a new phenomenon there.
Carlson Wagonlit Travel, a corporate travel management company headquartered in Paris, has just released a report advising what companies can do to get the most from their investment in meetings and events.
It foresees a future in which managers will go ahead with conferences only if they address clear business objectives.
It says companies in the pharmaceutical, IT, banking/finance and consulting industries may spend as much as four per cent of their revenue on meetings and events.
The report suggests eight steps that can optimise meeting and event management.
They include: negotiating group airfares for groups of 10 or more people; considering complimentary services or waived cancellation/attrition penalties when negotiating with hotels; and developing standard contract terms and conditions to promote consistent quality.
AAP
