31/10/2018

Meetings industry shares optimistic outlook for 2019

The UK’s meetings industry is looking towards 2019 with optimism following a successful summer and an uplift in enquiries for the year ahead.

According to the latest figures from miaTouchstone, the Meetings Industry Association (mia) online benchmarking tool, there were 49% more meetings held over the summer (June to August) than during the same period in 2017.

The figures continue the growing trend for meetings with the overall number up 25% over the last two years.

Other positive figures from the latest miaTouchstone report include a typical increase of 2 to 3% on the average daily delegate rate (DDR) compared to the same months in 2017 while there has been a 10% in the average DDR over the last three years – from just under £40 in 2015 to £43.50 in 2018.

The industry also experienced an increase of around 7% in average enquiry levels between June and August compared to the same period in 2017, indicating further sustained growth into 2019.

Jane Longhurst, chief executive of the mia, said the industry’s performance had been impressive, particularly under the shadow of ongoing Brexit negotiations.

She said: “It is great to report that the feelgood factor many of us experienced during the summer months extended to the industry as we saw both the number of meetings and DDR rate rise during the period.

“It is also encouraging to hear that most participating members are enjoying strong demand and are continuing to receive enquiries for 2019, particularly as forecasts for the UK economy are very cautious.

“We are hopeful that 2018 will end on a high and are pleased to hear that many members are looking optimistically towards 2019.”