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What To Expect For Business Events in 2022

Corporate travel is slowly coming back in the wake of the pandemic. Experts predict that 2022 will be a year of recovery for the business events industry. As executives ease back into attending business events next year, there will be a few changes.

Seasoned travelers are looking to take that long-coveted bucket list trip that they have been putting off.

Corporate travel is slowly coming back in the wake of the pandemic. Experts predict that 2022 will be a year of recovery for the business events industry. As executives ease back into attending business events next year, there will be a few changes.

The Future of Event Travel

Virtual and In Person Meetings

Next year, virtual and in-person meetings will be the most popular formats for business events. However, hybrid events, where in-person and virtual are combined or work in tandem, have not caught on as much as some would have hoped it would. One reason for this is the cost comparison between a live and virtual format for the same event.

Trends in 2022

Events in 2022 are predicted to have short lead times and will be smaller in size. Des McLaughlin, Managing Director of Meet Events said, “While inquiries and confirmations have been on the rise, events have been smaller in size with very short lead-in times, generating a lower spend. This is likely to continue for the first six months of 2022.” There is also a movement toward more local and experimental events, as well.

Higher Costs and Different Expectations

Since event venues were shut down for most of the pandemic, they lost revenue. Unfortunately, the costs will increase next year as they try to recover business while facing the rising costs of energy bills and supply chain issues. Venues will have no choice but to pass these rising costs onto companies.

The events industry will not only have to adjust the costs but will also have to change expectations. This is due to the ongoing staffing shortages that decrease the service levels and resources. Attendees should not expect pre-pandemic levels or service for quite some time.

A High Demand for Expertise

As international travel re-opens, there will be a demand for local event planners to bring their expertise to the table. Businesses will need the support and advice from agencies to help them work through the local red tape to ensure the safety of all involved in this post-pandemic environment.

Everything Green

Sustainability will continue to be a huge trend for businesses in 2022. Agencies, venues, and businesses alike will work together proactively in achieving sustainability goals. Many in the industry wonder if the predicted timeline of 2030 is a realistic timeframe for all business travel and events to be net-zero. However, most in the industry are committed to supporting all sustainability initiatives.

Collaboration

During the height of the pandemic, collaboration between companies was paramount for survival. This culture of collaboration is predicted to continue and thrive in 2022 and beyond.

Traveler’s Q can assist your company with all its event travel management services. Our travel planners can guide your company into the future of event travel – reach out today.