SHERIDAN, WYOMING – Mar. 5, 2025 — The latest Q4 2024 Meetings & Events Pulse Survey from Global DMC Partners (GDP) reveals a tightening of budgets within the meetings and events industry. The survey, which gathered 127 responses from industry professionals across various regions, highlights key trends affecting planners and suppliers, including rising costs, sustainability integration, DEI efforts, and the increasing adoption of AI.
Generational Workforce Trends in MICE
The Meetings, Incentives, Conferences, and Exhibitions (MICE) workforce is currently dominated by Generation X (50%), followed by Baby Boomers (25%) and Millennials (23%). This generational mix offers a balance of experience and fresh perspectives, shaping the evolving landscape of event planning.
Global Budgets Continue to Tighten
A major takeaway from the survey is that nearly 50% of planners report static budgets from 2024 to 2025, a stark contrast to the previous survey, where nearly 40% of respondents saw budget increases. Only 25% of respondents reported an increase in budgets this year. Regional variations indicate that 32% of U.S./Canada respondents experienced budget growth, while only 15% of international planners saw the same trend. Despite constrained budgets, expectations for high-quality event experiences remain, making cost management increasingly crucial.
Rising Costs Challenge Event Planners
Event professionals continue to grapple with rising costs across multiple categories, particularly hotels, food & beverage (F&B), airfare, and audiovisual (A/V) services. The survey found that 42% of planners have observed an 11-20% increase in hotel and venue costs, while 35% report similar increases in F&B expenses. Airfare and A/V costs have also surged, with 20% of planners noting hikes of 21-30%. These financial constraints are compelling planners to find strategic ways to manage expenses while maintaining event quality.
Strategies for Cost Management
To mitigate rising expenses, event planners are employing several cost-saving tactics. These include reducing attendee numbers, selecting second or third-tier markets, reusing event materials, shortening event durations, and incorporating more leisure time. Additionally, early contracting has proven to be a key factor in securing better deals and controlling expenditures.
Top Challenges for Event Planners
High costs remain the most significant challenge for event planners across all regions. U.S./Canada respondents cite venue availability as a pressing issue, whereas international planners place greater emphasis on budget management. Planners also report increased difficulty in negotiating contracts, with 12% more respondents stating that negotiation flexibility has decreased since the last survey.
Destination Selection Priorities
Price remains the most critical factor when selecting event destinations, followed by travel costs and flight availability. Meanwhile, factors such as exchange rates, language, and sustainability rank lower in priority. With budget constraints tightening, affordability plays a key role in the decision-making process.
Planning and Lead Time Considerations
Lead times for planning vary based on event type. Incentive programs typically require 13-24 months of planning, while meetings and conferences are often scheduled within 4-6 months. The survey found that planners are reaching out to Destination Management Companies (DMCs) closer to event dates, often within 7-9 months, with some as late as 2-3 months in advance.
DEI, Sustainability & Wellness Integration
The survey reveals significant regional differences in Diversity, Equity, and Inclusion (DEI) and sustainability efforts. International planners are more likely to integrate DEI (41%) and sustainability (55%) into most of their programs, compared to just 23% and 19% of U.S./Canadian planners, respectively. Key sustainability efforts include reducing plastic waste, using locally sourced food, and selecting venues within walking distance.
In terms of wellness, healthier F&B options are the most frequently integrated component, followed by relaxing and physically active experiences. However, family-friendly activities remain a lower priority, with 70% of planners rarely or never incorporating them.
AI Adoption in Event Planning
AI adoption continues to grow, with 57% of event professionals now incorporating AI tools into their planning processes. Chatbots lead the way, used by 87% of respondents, followed by grammar checkers (51%) and translation tools (30%). AI-powered content creation and note-taking tools are also gaining traction.
The Future of Meetings & Events
Despite budget constraints and rising costs, the demand for high-quality, immersive event experiences remains strong. As Global DMC Partners President and CEO Catherine Chaulet noted, "Despite facing budget restraints, planners are still expected to deliver tailored and top-notch, immersive and flexible attendee experiences. Sustainability is no longer optional, and there is a demand for wellness-focused event formats, healthier, locally sourced food options, and stress-reducing experiences. Tightening budgets is causing more vendor scrutiny, and planners are insisting on no surprise costs or hidden fees."
The findings of the Q4 2024 Meetings & Events Pulse Survey highlight the evolving challenges and strategic adaptations required within the meetings and events industry. While budgets are tightening, planners are leveraging innovative solutions to maintain event quality and meet the rising expectations of clients and attendees alike.
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