JANET TAN-COLLIS
CEO, East West Executive Travellers
SINGAPORE
The financial downturn delivered a severe blow and waves of uncertainty were felt by our industry worldwide. Governments saved the day with financial intervention, and demands were made that organisations implement sound and sustainable business practices.
Some developed new guidelines and policies as to when and how business travel and meetings should be conducted.
The three key areas most organisations now look to improve on are transparency, control and value-adding. This transition and transformation will include relearning and rebuilding the way things are done. The challenge will not only be for corporations, but also for acceptance of a new modus operandi by our industry.
This year may see some recovery in the meetings market, but my guess is it will be unpredictable, uncertain and patchy. What is for certain is that we must have the belief and show the commitment that our work is an integral part of driving business results.
SUMATE SUDASNAPresident, Thailand Incentive & Convention Association
THAILAND
The face of business events has changed forever and all committed players need to be extremely well informed and adaptable to satisfy the ever-changing needs of the customer. New laws and recommended practices are affecting event design, participation and delivery. We must learn about them and adapt accordingly.
As in every situation, there will always be winners and losers in the process. Those taking the opportunity to drive sales, enhance relationships and boost morale by using travel will see their businesses remain on the lead. I hope to see more of this in the coming years.
For suppliers, diversification is the key. It will not be easy, and perhaps impossible for some. Consolidation, integration and amalgamation come in many forms, and these moves will continue throughout 2010. I would like to see greater cohesion among suppliers – especially in protecting each other, lifting service standards and proving that travel and events help businesses achieve their objectives.
ANTONY SPANBROOKManaging director, Luminous EMC
HONG KONG
Any economic upturn will have a delayed effect as clients wary of a further downturn; therefore any true upturn effect will be mid-year. In a tough 2009, clients that stayed the distance on live events and conferences were in the automotive and IT/Telco sectors and this will continue. Financial services is already showing positive signs in the form of larger Investor Forums.
Internal communications projects are on the rise, possibly driven by the wave of new personnel coming on around the region and this is a good sign. We are getting more notice on projects as clients that had to cancel or downsize projects last year are finally able to commit. In lean times clients ask for more, lately in the form of content development and audience acquisition.
Finally we see a trend towards ‘green’ events both in terms of theme and systems to ensure social responsibility. We have many clients making decisions on décor, based on rental and recycling. We see so much waste in our industry so it is good to see this. We are not yet at the stage of doing carbon audits of events, but it is not far off.
STANLEY CHUChairman, Hong Kong Exhibition & Convention Industry Association
HONG KONG
Next year will see stability in the market but not a strong rebound. The economic situation in the US, Europe and Japan means people are saving rather than spending, which has a direct effect on the success of sourcing fairs in southern China. We are banking on the growth of China, which emerged after the crisis as a strong marketplace for domestic consumption and therefore a source of buyers.
One problem area in Hong Kong has been the neglect of the convention business in favour of exhibitions. Macau has expanded healthily in the past three years, but Hong Kong seems to have missed out. A 2,000-person congress in Hong Kong needs to be split up across multiple venues, which becomes a logistical problem with regards to execution, coordination, communication and coordination. HKECIA is proposing that some of the new West Kowloon facilities should be multipurpose so they can serve the convention business as well.