The Right Solution are pleased to announce the publication of the IBTM Global Meetings Industry Research 2013 into the China and SE Asia region. Please download a copy of the report. (see end of article)
The IBTM Global meetings industry research 2013 into the China and SE Asia region was launched 2nd September during CIBTM in Beijing. Sally Greenhill presented the findings of this year’s study looking at buying trends, destination choice, budgets and volume of events in Asia and the top issues affecting the meetings industry according to buyers and suppliers.
Although economies worldwide are now reporting growth for the first time since the Global Financial Crisis began, the forecasts for Asian countries are much higher than elsewhere in the world. This economic health is reflected in the meetings industry with the research results showing growth in volume and budgets. Although the recent reductions in government spending in China are affecting the market with goverment and administration down from first placed industry sector in 2012 to 8th place this year, buyers and suppliers remain optimistic about growth opportunites in China and Asia. Pharmaceutical/healthcare was the highest placed sector this year despite compliance (adherence to pharma codes)being the latest buzzword in the meetings industry. This was followed by automotive, which is enjoying high levels of growth in China and Asia.
Total spend in Asia by 214 buyers who provided volume and value figures was US$207,075,000 (RMB 1,267,381,830) with an average spend per buyer per destination of US$224,453 (RMB 1,373,742) and mean spend per event of US$48,798 up from $45,877 last year. 4 buyers had budgets of over $10 million showing just how powerful many of the players in Asia now are.
68% of the buyer respondents had held a total of 6,106 events in China over the last 12 months, an average of 44 revents per buyer, a much higher figure than last year. The average spend per buyer in China was US$818,038 (RMB 5,007,783). Indonesia revealed its significant growth in recent years by being third highest country in value terms after Japan with average buyer spend of US$417,241.
Although Beijing and Shanghai remain popular destinations there were high levels of meetings taking place in Guangzhou, Hainan, and Xiamen. The second and third tier cities in China are shown to be increasign volume of meetings this year.
Outbound business from China and Asia has increased substantially since ht survey began in 2007 with top countries USA, Australia, UK, Italy and France.
Average number of attendees per meeting was 250, with far higher proportions of large events (500 plus) taking place in Asia than elsewhere in the world.
Development of venues, hotels and transport systems continues at an incredible rate yet demand is keeping pace, if not struggling to find availability and reasonable rates at times.
The UIA meeting statistics for 2012 show the top three countries from Asia (Singapore, Japan and Korea Republic) taking 23.7% of the world’s international association meetings during 2012, followed by China at 19th position and Malaysia at 20th. The ICCA international meetings statistics for 2012 reveal that China hosted 311 meetings, behind Japan with 341.
Many associations are keen to expand membership in China and Asia and look to host their meetings in the region in order to promote membership. Yet in China the rapid growth of the domestic meetings market means there can be competition for availability of venues and hotel rooms. The move by the Chinese government to steer away from strong reliance on manufacturing to a service based economy certainly seems to be providing a solid base for growth of the nation’s meetings industry.