Internal Meetings and AI Accelerate Industry Growth: AmexGBT

67% of respondents say corporate meetings and events budgets are increasing

Internal meetings are expected to continue to significantly drive growth within the meetings and events industry in 2024. This is primarily driven by organizations seeking to build relationships and connect their distributed workforces according to the 13th Annual Global Meetings and Events Forecast, produced by American Express GBT Meetings & Events.

The 2024 Forecast surveyed more than 500 meetings and events professionals from around the world, with additional commentary from more than a dozen industry leaders. Meetings professionals expect internal meetings to see the strongest growth of all meeting types, with 48% of respondents predicting more attendees next year.

Gerardo Tejado, SVP, Professional Services, Amex GBT, said: “With more distributed workforces than ever, companies are re-evaluating the importance of internal interactions for team cohesion, productivity, creativity, engagement, employee welfare. It’s never been clearer that in-person meetings and interactions are irreplaceable, with face-to-face connections and building relationships serving as cornerstones of personal and professional success. Our Forecast indicates that 2024 will be a dynamic year – not only are budgets and attendee numbers rising, but we’re also seeing technology adoption accelerating dramatically.”

According to Amex GBT’s Hotel Monitor 2024, hotel rates will likely continue to rise in most locations globally during 2024, and meetings and events are expected to replace the diminishing demand of leisure travel. Tejado said: ”Meeting planners must harness the available tools effectively by using technology for task automation, revising meeting program policies to accelerate budget approvals, and integrating business and meetings travel.”