On 31 July 2017 Paris was officially awarded to host the 2024 Summer Olympics. This is fantastic news for event professionals who are forward thinking and looking to offer their delegates a unique once in a lifetime corporate hospitality experiences at a major international event.
As we were expecting for this to happen, three weeks earlier, The MICE Blog and Atout France held an event in London at the Hoxton Shoreditch Hotel about Corporate Hospitality in France. At the event there was a lot of discussion about the Olympics, and now we are glad to say that this became a reality.
Event proposal often evoke mixed feelings among event professionals. Some see them as an opportunity to shine and share their brightest ideas to win a new business, others take a more cautious approach due to risk of copying ideas, and see them rather as time consuming and tedious. One way or another, every event business needs them to grow and prosper.
The current business environment makes things more challenging. It has evolved to require a new set of expectations. For example, budgets are getting tighter, lead time shorter with always increasing delivery standards and new means of communication. As a result, event proposals need to correspond to always increasing expectations.
A survey conducted among top UK event agencies by C & IT shows positive outlook for incentive travel. The results, published in July 2017 show positive growth specifically for B2B incentives in 2017, with growing popularity of long-haul destinations, including South America and Asia. Additionally, according to Meeting Professionals International (MPI) quarterly Meetings Outlook report published in May 2017, meeting budgets are raising, giving more creative freedom to planners to pitch for favourite long haul destinations.
Given the positive outlook for long haul incentive travel and good budgets, I take this opportunity to present you with a destination you might well consider for your next corporate event – Thavorn Hotels & Resorts in Phuket, Thailand.
Major trend that is shaping the events industry, and MICE in particular this year, is influencer marketing. We know it from other industries – leisure travel, food, fashion, parenting etc. As much as there are many similarities with other industries, MICE sector works differently with influencers and has different set of expectations.
The product or service in the MICE industry is more complex, as well as the decision making process. In general, in the B2C sector influencers are tasked to promote a product for £20, or £200 or so, and the price sensitivity is lower. In the MICE industry, on the other hand, the sales funnel is longer because the product is more complex, more expensive and the decision making process is longer. An influencer who is tasked to to promote a MICE destination, for example, can contribute to the overall economy both directly and indirectly.
I graduated from Regent’s University London with BA International Events Management end of 2014 and it’s incredible to think how many things have changed in the event business environment within this short period of time! Brexit, security, GDPR, VR, AI and social influencers are just few of the topics we barely covered during our degree but now are instrumental to our daily jobs.
Seeing the fast development in the skills set required by event managers today, universities won’t be able to cope with such speed to equip students with latest trends to kick start their career in the events industry. They give a solid foundation to start with, but this has to be reinforced with extra curriculum activities to stay competitive and be employable.