Tuesday, September 26, 2023

The average daily expenditure of the meeting traveler is 335 euros, which is three times that of the holiday tourist.

Madrid, 27 (Europa Press)

According to data from the BrainTrust consulting firm, the meetings industry is expected to exceed 10,435 million euros spent in 2022 in Spain and is expected to reach a volume of more than 12,100 million in 2023, assuming an average spending of around 335 euros. daily, three times what a vacationing tourist generates.

The positive impact of the business and meeting industry is very important to national economies, as it drives a lot of business, adjusts demand seasonally, consumes few resources, promotes employment, and provides value to destinations and communities. Leaves a lot of property and legacy.

The meetings industry is set to reach a turnover of close to 10,435 million euros in Spain in 2022, almost double the figure achieved last year. And the forecasts for this year 2023 are very positive in which the trade volume is expected to increase to 12,100 million Euros.

2022 has been the year of tourism recovery. While it is true that, according to data from the World Travel and Tourism Council (WTTC), world tourism was still on a recovery of 63% compared to 2019 levels, the main tourist powers at receptive levels are significantly above that global average. Was

After the pandemic, holiday tourism has returned strongly, but where the recovery has been most noticeable is in the meetings and events industry, which registered the year 2022 with a very remarkable recovery and very optimistic prospects for 2023 .

According to figures from the Spain Convention Bureau, the network of local entities that currently groups 63 congress venues within the Spanish Federation of Municipalities and Provinces (FEMP), last year Spain closed close to 10,435 million euros in business in the region, Which is only 15% less as compared to 2019 and practically double what was achieved in 2021.

Both existing data and industry experts conclude that face-to-face meetings are “back to stay” and that the hybrid or virtual component will remain as a tool that improves connectivity, sustainability and complements events, Allows to improve and add value.

Evidence of this is that, according to a barometer carried out by the Spain Convention Bureau, in 2023 more than 80% of meetings will once again be held in person and it is expected that half of the meeting places will have more people. More than 75% annual average.

Thus, forecasts indicate that this 2023 it could exceed 12,100 million euros, which is already at pre-pandemic levels, more than the recovery of business travel, which has suffered more recession, Because it does not expect its recovery till 2025 globally. level.

Smart Segmentation.

Spain is one of the best countries to hold meetings due to its high level of experience and flexibility as well as its reasonable value for money when compared to other destinations with higher rates such as France, Italy or the United Kingdom.

According to experts, markets close to Spain represent an opportunity to attract more discerning customers, but to do so, an intelligent segmentation strategy must be implemented. And it is that this market is very interesting for companies, because the average daily spending of the meeting traveler rises to 335 euros, triple the spending of the holiday tourist.

The study, carried out by BrainTrust Consultancy, shows that there are various areas of opportunity for the growth of meetings in Spain, particularly in nearby markets such as Germany, the United Kingdom, France, the Benelux, Italy and Portugal.

Spain’s position in this section can be considered privileged, but a return to normalcy, according to experts, must be supported by a “logical and necessary” change of the proposal to meet the needs and objectives of the organizers.

The experts ensure that destinations must take into account the new needs of customers, both organizers and attendees, focusing on digitization and technologies on the one hand and clear developments in the leisure experience on the other; New venues and enclaves for the event as well as other elements such as sustainability or the professionalism of the area.

Adapting the offer to new existing demand involves adopting advanced segmentation strategies, “not only by markets or sectors of activity of origin, but also by understanding the target audiences each destination wishes to address according to its strengths and potentials.” and then seeks to analyze where it is located and which is the most optimized offer for each customer, thus increasing the chances of success and ruling out those market segments or niches that are incompatible with the destination’s offer do not fit.

The development will therefore go through the development of meetings that generate a greater connection between attendees through personal experiences, greater social awareness both at the environmental level and in accessibility and diversity” to boost attendance, in addition to creating a local experience Required for, overnight stay and increase average expenses”.

World Nation News Desk
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