The fourth edition of the Grass Roots Meetings Industry Report, launched in February, showed signs of growth in the meetings market and forecast an upturn in events, especially in Q4 of this year. Budgets will continue to be under scrutiny and with the anticipated cuts in the public sector, agents and venues that have relied on this business to get them through 2009, may find themselves under pressure.
For the first time, perception played a role in the downturn. "Another factor in the collapse of the demand for meetings and events was corporates' fear of being seen to spend money," said Des McLaughlin, Grass Roots' managing director, venue procurement.