The 2012 China and Asia Meetings Industry Research report will be the 4th annual report produced by Reed Travel Exhibitions.
The research report provides valuable insight into the meetings and incentives industry in China and Asia as well as up to date market information on the latest trends and developments over the past 12 months.
All industry professionals are invited to complete the industry survey which forms the basis of the report, this year a total of 445 buyers and 180 suppliers were involved.
The results of the research are presented onsite at the exhibition by Sally Greenhill from The Right Solution who produces the report on behalf of Reed Travel Exhibitions.
The Results - An Overview
The results of this year’s annual China and Asia Meetings Industry Research Report shows that China and Asia offer huge potential for growth in the domestic, regional, international inbound and outbound markets for all types of meetings and events.
Buyer Results Overview
- The percentage of respondents organising conferences and meetings has risen to 74% from 64% in 2010. Similarly those organising international conventions and congresses has also risen.
- Inbound international events to China have also grown indicating a rise in interest in the region and outbound events have also increased in number.
- The most popular destinations for outbound business include Taiwan, Macau, South Korea, Singapore, Thailand and Malaysia. Beyond Asia, North America was the most popular followed by Europe, Middle East and Africa.
- The most important influencing factors when placing an event was cost followed by location, quality of accommodation, quality of service and the size of the venue plus time of year.
- Rating satisfaction levels for their events in China showed that there is still room for improvement in facilities as 44% rated destinations used as very good or excellent – a reduction from 60% last year sighting the need for more training and professional skills to handle business.
- 50% of respondants expect an increase in event budgets in future and 34% think they will stay the same.
- The economic climate and pressure to reduce costs remain the factors most likely to influence events in the next 12 months. Passport and visa issues have become more important as the volume of outbound business has increased. CSR and environmental issues are now influential for over 80% of respondents, a significant shift over previous years.
Supplier Results Overview
- Suppliers cited conferences and meetings as the event types they are most involved with at 64% whilst incentives were not far behind at 53%.
- Travel Agencies remain the number 1 position as third party organisers although the growth of the PCO has risen considerably from 6th last year to 2nd in 2011.
- Pharma and medical clients dominated the sector once again, the Financial services/banking rose from 6th position in last year’s research to 2nd place.
- Suppliers matched the buyer’s responses well in predicting the outbound areas of most interest to their Chinese clients with Asia still dominating, Europe in second place followed by Australasia.
- Future business growth is predicted by suppliers to come from China with 56% mentioning Beijing, 45% Shanghai, 34% Hong Kong and 27% Taiwan, but additional areas of interest are shown as North and West China, the whole Bohai-rim region, the Pearl river delta and the Yangtze river delta.
- 70% of supplier respondents are targeting corporate organisations for business in future, 34% third party organisers/agencies and 29% the not for profit organisations and associations.
- Critically whilst the research showed caution for the year ahead compared to the 2010 survey, reflective of the economic situation worldwide. 52% still predict an increase in the volume of events yet only 27% suggest an increase in budgets for events. 34% will be increasing their marketing and promotional budgets. 32% show that they will increase their selection of long haul destinations.