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$1.5 trillion global meetings industry celebrates that meetings are expected to bounce back stronger

GMID 2021 (Global Meetings Industry Day) took place virtually all over the world on April 8th. Hosted by MMB (Meetings Mean Business), various industry associations such as MPI, SITE held their own agendas, discussing various event industry topics. As reported in Northstar Meetings Group, April 9, 2021, MPI (Meeting Planners International) key takeaway focussed on the value and purpose of meetings and preparing for recovery. Preparing for recovery includes a potential staffing shortage to manage the expected pent-up demand – this is music to everyone’s ears.

Meeting Escrow’s team feels that focusing on recovery is essential, and that encompasses many different aspects. These include not only a potential staffing shortage but challenges finding space because events that couldn’t happen in 2020 & 2021 will be moved to 2022 and beyond, not to mention regular events that were already booked for that time period. Medical protocols by both vendor infrastructure and protocols and on-site health checking. Lastly, we hear from clients that financial risk management tools will also play a bigger role given that risk is not a rarity anymore but rather now built into their company’s risk management plan. Please read our case studies to learn about our financial risk management solutions helped our clients.

Cautious optimism was on the agenda at the State of the Industry panel at Meeting Professionals International's Global Meetings Industry Day: Virtual. The panel, a centerpiece of the 12-hour program of virtual events hosted by MPI on April 8 as a celebration of the value of the events industry, featured speakers representing destinations, trade shows, associations and other sectors. The panelists discussed current priorities and how the past year is likely to affect events over the long term.

The pandemic had not simply disrupted the industry, they agreed, but also forced organizations to reevaluate their structure and that of their partners.


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