Reining in business event costs in a time of economic uncertainty is critical in the coming year, according to BCD Meetings & Events’ What’s Trending 2025 report.
“Across all regions as customer budgets tighten, ‘doing more with less’ will become a common theme, making cost containment a top priority,” Bruce Morgan, global president of BCD Meetings & Events, told Skift Meetings.
Economic Uncertainty a Concern
The ability to adapt quickly to changing conditions is crucial when planning business events. Budget control takes on even greater importance during times of economic uncertainty.
AI will help, said Morgan. “AI is already making waves, and while it’s often discussed, its real potential lies in both helping our teams work more creatively and efficiently and enhancing the experiences we deliver to our customers,” he said.
Before launching any AI-driven initiative, there are things to keep in mind. A framework that addresses compliance, security, and its responsible use is important, the report notes.
Other Trends
Personalization: Tailored experiences are essential, even as companies face financial constraints.
Storytelling: The demand for meaningful storytelling is growing, said Morgan.
Sustainability: Companies — especially multinational ones — are increasingly focused on tracking their environmental impacts. Data is important in aligning strategies with sustainability goals.
“While cost still wins out in decision making, companies are starting to dive deeper into tracking their impacts and understanding meeting owner and attendee behaviors to better adapt their M&E strategies around sustainability,” said Morgan.
Regional Insights
North America: The North American meetings and events market grows by 20% year-over-year. Hotel execs are upbeat about 2025.
UK: The mood in the UK is optimistic. Business volumes are returning to pre-pandemic levels. Clients are eager to hold meetings, but creative solutions are needed to stretch flat or slightly increased budgets.
EMEA: Business sentiment remains positive, with in-person events crucial for companies despite ongoing challenges like the wars in Ukraine and Israel and rising inflation.
Asia Pacific: Business is growing rapidly, driven by face-to-face meetings, which account for about 80% of events. Budgets are expected to stay flat in 2025, and while third-party suppliers are increasing flexibility, lead times for planning remain tight, requiring quick responses to RFPs.
Latin America: The region remains a growth area. That is despite concerns about environmental changes, inequality, and political instability. Especially in countries like Mexico and Venezuela.
