Planners expect full industry recovery by Q2 2021, MPI survey finds
The Meeting Professionals International (MPI) association has published the first results of its ongoing survey.
The survey examines the near-future business landscape as the industry moves closer to a post-COVID-19 world. The survey focuses on three topics: destinations, staffing and recovery.
So far, the survey has had 400 responses from planners (55 per cent) and suppliers (41 per cent).
Overall, respondents said 58 per cent of staff at their organisation have been furloughed or made redundant. Suppliers have been hit the hardest with a total of 76 per cent of staff either furloughed (42 per cent) or laid off (34 per cent).
Planners have been slightly less impacted, with respondents indicating 23 per cent of staff being put on furlough and 19 per cent of staff being made redundant.
Respondents seemed hopeful that business will begin to pick up in the second and third quarter of the year. 27 per cent of respondents agreed this will happen in September.
However, the second-highest result was for ‘sometime in 2021’ with 18 per cent believing business will be slow until next year.
In terms of making a full recovery, the majority of planners, (24 per cent) think this will happen in Q2 2021. Whereas 28 per cent of suppliers believe a full recovery can be expected earlier in Q1 2021.
Perception of destination and venue type
The survey revealed planners now view domestic destinations and those closer to home, in a more favourable light.
When presented with 23 types of destinations and venues, 70 per cent said they now view ‘online/virtual’ meetings in a more positive light than before the coronavirus pandemic.
42 per cent of respondents also said they would be more likely to book an event in a destination that responded quickly to the pandemic.
AMI is conducting its own survey to examine the effects coronavirus has had on the international associations meeting market.
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Published Date: 23/04/2020