Cost Cutting Could Lead to Big Changes for Meetings in 2019

As meeting and event planners prepare for 2019, it's clear that financial pressure is poised to define the path of the sector going forward. American Express Meetings & Events polled 700 event professionals on the shifting dynamics across the industry going into next year, looking at the factors that affect where planners hold meetings and the ramifications of global trends on how they operate. Planners worldwide reported that commission cuts are affecting how they fund their meetings. In North America, for instance, 68 percent of those polled said they are dealing with lower commission rates than in previous years. This is all happening as more events are taking place with larger groups across a wider variety of destinations. Costs are going to have to be cut, and North American planners said reducing the length of events is likely the first step. Offsite evening events and optional activities are also elements that will be reduced due to budgeting restrictions. “Ove