MPI Forecasts Meeting Budget Shortfalls for 2015

The fall 2014 edition of the Meetings Outlook published by Meeting Professionals International (MPI) shows increasing costs for services across the meeting and event spectrum in concert with only slight budgetary growth.

Key predictions for 2015 include the following:

• Costs will increase greater than budgets with air travel (5 percent) and F&B/catering (4 percent) growing the most.
• Overall budget growth: 1.7 percent.
• Organizations are investing more in employees.
• Of all meeting/event types, training, educational events and sales meetings will grow the most.
• Incentives also will be on the rise after several weak years.
• Overall business for meeting and event professionals in the U.S. and Europe will grow at 3.2 percent and 3.6 percent, respectively.

To view the full report, visit www.mpiweb.org/meetingsoutlook.