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CWT M&E, the global meetings and events division of CWT, says the $840 billion industry is poised for an 8% growth in 2020 despite looming geopolitical and economic headwinds, according to its 2020 Future Trends Report, published today.
The report notes the protracted trade war between the US and China is creating general uncertainty in the global business community heading into 2020. Adding to the anxiety is the future of Brexit and its cascading impact on the European Union. Over in Asia, the protests in Hong Kong that started in June have put businesses on alert, as continued unrest in the city is bound to impact demand across the region. Growing concern over the impact of climate change is also increasingly clouding business sentiment.
Despite these issues, there are reasons to be upbeat, says Kurt Ekert, President and CEO at CWT.