EIC’s Global Business Events Barometer Shows An Increase In Meetings & Events

The Events Industry Council’s Global Business Events Barometer 2021 Q3 Release shows data that indicates that group business has increased significantly in the third quarter of last year, compared to the previous year at the same time.

Key findings

Recovery of business events activity continued in the third quarter of 2021, resulting in an improved outlook heading into 2022 based on indicators tracked by Events Industry Council as part of its newly released Global Business Events Barometer.

Indicators show the level of business events being held globally, such as conventions and meetings, is still far short of pre-pandemic levels. Hotel group room nights in 2021 Q3 were only 53% of 2019 Q3 levels, and RFP activity for events in future periods were 50% of 2019 Q3 levels. However, activity levels have improved relative to a year ago, when group hotel room nights and RFP activity were just 31% and 22% of 2019 Q3 levels, respectively. Gains have come as public health conditions improve in many regions and as organizations and individuals return to in-person events that serve critically important roles. Initial steps of recovery are occurring first among smaller events (RFP activity at 52% of 2019 Q3 levels) than large and medium events (46%), and events booked with shorter lead times. Many companies have resumed a level of domestic travel (57% of companies), which is well ahead of the share of companies that have resumed international travel (20%).

The recovery of group events activity during 2021 Q3 was strongest in the Middle East, Asia Pacific, Africa and North America, as indicated by hotel group room nights. RFP activity for events in future periods has recovered relatively more firmly in North America, Latin America and the Caribbean, and the Middle East.

In normal times, business events represent a vibrant mix of gatherings, from small events to large, complex conventions, and include events with local, regional, and international attendees. The resumption and reinvigoration of the sector is dependent on multiple factors, including improving public health conditions, and will take time. The Global Business Events Barometer provides key data points tracking the full global scope of the recovery. Hotel group room nights provides a measure of guest stays that occurred during 2021 Q3 and which were booked as part of a group (e.g., as part of a room block). Traditionally, many of these room nights relate to business events. RFP activity represents requests for proposals released by business professionals during 2021 Q3 seeking venues and accommodations for future events.

To see more details, click here.