EIC launches 2022 Q1 Global Business Events Barometer

EIC is pleased to have launched its 2022 Q1 Global Business Events Barometer which monitors the changes within the market relative to pre-pandemic (2019) levels and explores two key areas, hotel group room nights and request for proposal (RFP) activity.

According to the Barometer, 80% of global companies surveyed resumed domestic travel in 2022 Q1 (up 16% from 2021 Q4), and more than half (55%) had resumed international travel (up 77% from the previous quarter) following the easing of Covid travel restrictions across the world.

However, recovery across the business events sector eased in 2022 Q1, in part due to the impact of the Omicron variant in key markets. The slight step back in the recovery was indicated by both RFPs (down 2% from 2021 Q4) and hotel group room nights (down 10% from previous quarter).

There were some modest recoveries in group activity through the start of 2022, occurring in the Middle East, North America and Asia Pacific regions, as indicated by the hotel group room nights index.

The Barometer also revealed a slight decrease (down 3% from the previous quarter) in events booked with shorter lead times (within 12 months). RFP activity for events in future periods increased slightly (up 2% from the previous quarter) but was still significantly lower than 2019 levels.

EIC would like to thank the following leading organisations for generously supporting and sponsoring the report: ADMEI, AHLA, ASAE, Freeman, IACC, IAEE, IRF, Los Angeles Tourism & Convention Board, Maritz Global Events, Meetings Mean Business, MGM Resorts International, MPI, Northstar Meetings Group, NYC and Co, PCMA, RCMA, SISO and SITE.

Download the full report here