Ana M. López
Research expert covering travel, tourism and hospitality
Digitalization of the meetings industry - statistics & facts
The meetings industry, part of the broader business tourism sector, represents all organizers, suppliers, and travelers associated with meetings, exhibitions and trade fairs, congresses, conferences, and incentive trips. In 2020, while the coronavirus (COVID-19) pandemic forced this sector to cancel, reschedule, or move in-person events online, the market size of the global meetings industry was estimated at roughly one trillion U.S. dollars. As the health crisis limited the opportunity to run face-to-face events, the industry looked at alternative ways to conduct business, adopting either online-only or hybrid solutions. As a result, roughly 30 percent of association meetings held globally were exclusively virtual in 2020, and half of the fairs projected worldwide in 2021 included digital or hybrid formats.
Digitalization of meetings
According to a 2021 study by the International Congress and Convention Association (ICCA), the North American association meetings sector seemed particularly prone to run online events during the pandemic. In that region, virtual association meetings accounted for 39 percent of this industry’s events in 2020, while 30 percent of meetings in Europe and 25 percent in Asia were online. When considering the subjects of virtual meetings held worldwide, nearly half of all technology-oriented events embraced a virtual format that year, and roughly a third of meetings based on educational topics did the same. Overall, the average registration fee of virtual meetings was significantly lower than that of regular ones in 2020. However, budgeting for business events during the pandemic was a matter of concern for event planners and suppliers, a 2021 survey revealed. According to the study, around 30 percent of respondents considered the pricing of hybrid events as the main financial challenge for the business event sector.Digitalization of exhibitions and trade shows
The digitalization of the meetings industry includes developments and strategies that go beyond the sole nature of the event itself, such as the introduction of apps, digital advertising, and digital signage. In this sense, a June 2021 poll on the main digital processes implemented in the global exhibition industry showed that four in ten surveyed companies focused on digital solutions for individual exhibitions or products, and 22 percent developed a digital strategy for the whole firm. Looking from the visitors’ perspective, webinars were among the preferred digital tools in the exhibition industry worldwide as of December 2020. Meanwhile, as the COVID-19 pandemic dictated a new normal in terms of health and safety procedures, digital business cards topped the list of the main contactless safety measures expected to be adopted by exhibitions worldwide.
