Industry Trends
The top challenge faced today when booking events in today's market is market compression and agreeing on contract clauses and terms.
Every month HopSkip analyzes data from around the meeting and events industry to understand trends in the market. HopSkip picks a few of the most relevant trends from research conducted throughout the month, and we share those data points with the rest of the community.
HopSkip Market Analysis: April 2023
Data Point #1:
In April 2023, the average size of in-person MICE events increased by 12% compared to 2022.
Conference and Incentive Travel (C&IT) Magazine
What this tells us:
This stat suggests that people are becoming more comfortable attending larger gatherings, a positive sign for the industry's recovery.
Data Point #2:
In April 2023, there was a 20% increase in the use of event management software compared to 2022.
Cvent
What this tells us:
This stat demonstrates the growing reliance on technology to streamline event planning and execution processes.
Data Point #3:
In April 2023, 40% of events were organized by professional event management companies, up from 35% in 2022.
International Association of Professional Congress Organisers (IAPCO)
What this tells us:
This stat indicates a growing demand for professional event management services, which can help improve event quality and outcomes.
Data Point #4:
In April 2023, there was a 15% increase in the use of artificial intelligence (AI) and chatbots for event planning and attendee engagement compared to 2022
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Event Industry News
What this tells us:
This trend showcases the growing role of AI in enhancing event experiences and streamlining event management processes.
Every month HopSkip analyzes data from around the meeting and events industry to understand trends in the market. HopSkip picks a few of the most relevant trends from research conducted throughout the month, and we share those data points with the rest of the community.