IMEX America Index of Optimism Captures Spirit of Progress

Meetings and events industry business and optimism is on the rise according to a group of North American buyers and suppliers surveyed in the latest IMEX America Index of Optimism, the IMEX Group.

Conducted in Q1 the Index asked 200 respondents to describe their mood over the previous six months and covered topics such as new business, levels of optimism, use of technology, professionalism and the expected effect of the presidential election on the meetings, events and incentive travel industry. Of the participants 64 percent were buyers, with suppliers comprising the remaining 36 percent.

Showing ongoing business improvement, a strong 88 percent of respondents said they had attracted new sources of business in the previous six month period (up from just over 77 percent in the previous July 2011 IMEX America Index of Optimism).

The survey showed optimism among US buyers and suppliers to be on the rise with a little over 79 percent reporting they felt more optimistic than in the summer of 2011.  9 percent remain less optimistic and 12 percent were not sure. Compared to July 2011, when only 66 percent felt optimistic about the future, this 13 percent increase suggests a more positive outlook has returned, and both buyers and suppliers are feeling slightly more bullish about business prospects for the remainder of 2012.

When asked whether there was evidence that large meetings and events were attracting higher or lower numbers of attendees over the past six months, just over 53 percent noted a rise in numbers - a slight, positive increase from the 50 percent indicated in the July 2011 Index.  For 27 percent there was no reported rise in delegate numbers and 20 percent remained unsure.

The survey also asked if spending per participant at these events was on the rise. Results were virtually split down the middle with 38 percent saying yes, nearly 40 percent saying no, and the remainder declaring they were not sure.

When asked the “crystal ball” question everyone wants the answer to, whether the industry had seen the worst of the market difficulties yet, results swung to more positive ground. 49 percent said they felt the worst had passed.  31 percent believe there is more uncertainty to come, and 20 percent can’t decide either way.  These findings show less doubt and pessimism than in July 2011 when just 30 percent felt the worst had past and 34 percent felt there was more uncertainty around the corner.

Professionalism, Technology & the US Presidential Election Enrich Feedback
Further, The IMEX America Index of Optimism also sought feedback on the importance of continued professional development and industry recognition, as well as hot technologies and the upcoming US presidential election and its potential effect on the industry.

Just over 81 percent agreed that continued work is critical to build and reinforce the professionalism of the industry, acknowledging that this helps to impress the true value of the industry upon stakeholders and other influential groups.

In comment-format questions regarding use of social media and ‘hot’ technologies, Twitter, Facebook, smart phones, tablets and apps continue to dominate industry professionals’ lives and habits.  However, respondents emphasized their search for value rather than novelty, and only rate those technologies and devices that help them create better marketing programs and sponsorships, build stronger client relationships or deliver a richer attendee interaction or greater convenience.